Schwab MoneyWise ®

Rules of the Road at Every Age

Putting kids on the road to financial independence.

Our Two Cents

You don't have to know everything about finances to teach kids about money. The lessons of your own life—including your mistakes—can be a great foundation and learning opportunity for your children.

Learning about money is an incredibly important aspect of being a successful adult; however, financial education is virtually nonexistent in schools. That’s why it’s very important to be proactive and teach your children about money early on.

An open dialogue about money

For many families, talking about money is uncomfortable, but it’s important to move beyond that. Here are some guidelines to make teaching money skills easier for you and more rewarding for your family:

  • Make money conversations a part of everyday life. On a trip to the store or while planning a family vacation, talk about how you budget and save.
  • Set a good example. Friends and the media have a lot of influence on kids, but your spending habits have the most influence.
  • Use age-appropriate activities. Consider your child's age and maturity. No two kids are alike and neither are their approaches to money.
  • Talk to girls and boys in the same way. They need to learn the same lessons about spending, saving, borrowing and investing.
  • Try to be open about family finances. Find areas where you are comfortable involving kids in family financial decisions.

Keep learning

Now that you've gone through the basics, discover more about how to talk to kids and teens about different money topics.


The information on this website is for educational purposes only. It is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner, or investment manager.

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