talking to your kids about money

Talking To Your Kids About Money: Kids Talk Take 2


Welcome to the second episode of The Lady in the Black’s series dedicated to financial literacy for children. Kids Talk is an entertaining and insightful series that explores how children perceive the value, use, and management of money. If you haven’t considered talking to your kids about money, you might be surprised at how much they have already picked up.

Kids learn about the world around them in many different ways. Some things they learn from their parents, others from their peers, and even more at school. However, financial literacy starts at home.

Adults who had parents who purposefully made a point to teach their children about money have a huge leg up on those that didn’t. (Unfortunately, I fall into the “didn’t” camp. You can read about what I learned about money from my father here.) I have, however, started conversations with my own daughter about money. She’s a huge supporter of my blog and calls herself The Kid in the Black. (You can read her first interview here.)

If you aren’t sure about how to go about initiating conversations about finances with your family, check this post or visit I found their information to be concise and easy to navigate.

Of course, there are other personal finance bloggers who may be able to share their insights as well. Check the RockStar Finance directory for personal finance bloggers specializing in family finances. I’ll make a particular recommendation to visit My Sons Father. He’s a dad with 2 boys, a keen sense for LEGOS, and a fun take on life.

Talking To Your Kids About Money: Take 2 Double Feature

Kids Talk Take 2 is a double-feature; interviews with two young kids. These two cuties don’t need lots of words to show how much they care about money…or their moms.


Little Drummer Boy (boy, age 6)

Many years ago, I met a woman who would be my project manager for the next 3 years and a friend for much longer. Wrangling a strong creative personality such as myself is no easy task but Jess managed to whip me into shape in no time. By the time I left the company, I was convinced she knew everything and I did exactly what she asked without question. Hopefully her 6-year old son, Myles, knows enough to follow her lead as well.

His mom describes Myles as a “very literal six-year-old who loves Pokemon, Transformers, basketball, and soccer. He thinks the tooth fairy is cheaping out as time goes on but knows it’s important to save for college. Not important enough to actually do chores for an allowance, though.”

How important is money to you in your life?

Umm, saving?

What do you think everybody should know about money?

Umm, they can use it on stuff.

Anything else?

Like dollars, too. And the dimes, too.

Why is money good?

So you can have stuff with it.

Is money ever bad?


How does mommy make money?

She goes to work.

How does daddy make money?

He goes to work.

How can you make money as a kid?

You can save it for college.

But how can you earn it?

By doing chores and helping people.

Do you know what a budget is?


Do you know what interest is?


What do you think it’s important to spend money on?


Is it important to save money?


What’s the best way to save money?

To not spend it on stuff.

What happens to money when you put it in the bank?

They save it.

How much money do you think we need to be rich?

A million.

Can you be rich without money?


Are you rich?


Do you have a million dollars I can borrow?


Do you know what job you want when you grow up?

A Rockstar

Do you know if rockstars make a lot of money?


Do you want to tell us anything else about money?


Sugar and Spice Girl (girl, age 5)

A fellow financial blogger recently featured one my posts in his weekly Dreamcatcher series and we got to chatting. Not only did he inform me that The Lady in the Black has a groupie but he also agreed to interview his adorable 5-year old daughter for Kids Talk.

I Dream of Fire has this to say about his kid. “This 5-year-old spitfire enjoys long bike rides, group hugs, any movie featuring a princess, and all food with a sugar content greater than 90 percent. She’s well-trained in the art of picking up pennies and can spot a Costco sample station from 50 yards.” (Uh-oh, IPickUpPennies has some competition!)

There’s just something so sweet and pure about this little one’s financial innocence.

What do you think people use money for?

To buy things.

How do people get money?

From the bank.

How else might they get money?

I don’t know.

Do you think money is important? Why?

Because you can go to stores, and if you don’t have money you can’t go to stores and buy things.

When do you think you’ll start getting money of your own?

I don’t know.

Do you want to just guess?


Will you save your money for bigger things, or spend it on smaller things?

Maybe little teensy toys and maybe big toys, like Brownie (stuffed animal dog).

What kinds of things will you buy?

Maybe some sunglasses.

When you find money on the ground, what do you do?

Put it in a jar, like you do.

What are some important things that you don’t need money to have?

Going on cruise ships.

What else?

To buy cherries on the cruise. (Ed. Note: She’s heavy into the Maraschino cherry futures market.)

If I gave you $100 right now, what would you do with it?

Buy some cherries. Cruise cherries.

How about you? Have you started talking to your kids about money? Want to submit an interview to Kids Talk, contact me here or Tweet me @TheLITB.



  1. How cool! I really like how you brought children into the personal finance world with such class. Teaching our children how to handle money and the long-term effects of their decisions in a way that reframes the current mindset on debt and money is going to be a huge challenge.

  2. Greatness answers. Wouldn’t life be better if we all gave such straightforward and simple responses.

    My son (2) is learning slowly but surely about how money works. It’s fun to see the gears turn.

    1. I agree. Imagine the world if you could just go up to some one and say “Hi, do you want to be my friend?”

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