Wealth Doesn’t Mean the Same Thing to Everyone at Home

Families use the same words about money, but they don’t always mean the same things.

Parents often talk about money in broader terms.
“We’re fine.”
“We need to be careful.”
“Things are expensive right now.”

Kids see it as even more abstract than parents.
“Can I buy this?”
“Why not?”
“Do we have enough?”

While none of those seem like inherently bad ways to look at money, they leave room for families to shore up their understanding of, and communication around money.

Research shows that many parents want to teach money, but they don’t always explain how decisions are made. Kids see outcomes, not reasons. Sometimes the answer is yes. Sometimes it’s no. Over time, money starts to feel unpredictable.

That’s where confusion sets in.

When money isn’t concrete, kids don’t learn patterns. They don’t see what’s planned, what’s already used, or how choices affect plans and balances. Adults, meanwhile, assume kids will “get it eventually.”

They usually don’t.

Families who feel more confident about money tend to share something simple: The Truth. Often that starts with tracking money together in a shared place, rather than keeping it abstract or private. Tools like IDK My Money are designed for exactly that kind of shared visibility.

When money is visible and tracked consistently, conversations change. Decisions feel less random and our kids start connecting spending to outcomes. And so do we.

“Everything Is More Expensive” — What Paying Attention Actually Changes

If you ask families why money feels harder right now, you’ll hear the same thing:

“Everything is more expensive.”

And that feeling isn’t made up…prices did spike. Groceries, gas, rent — all of it hit at once. And for most, wages didn’t keep up. All of a sudden doing the same things suddenly cost more.

But here’s what’s interesting:

The stress around money often grows faster than the numbers themselves. Most families don’t actively track their spending because it feels overwhelming, tedious, or pointless. So money becomes something you feel, not something you see.

You swipe your card.
You glance at your balance.
You assume everything is getting worse.
You start to seriously consider which family members you can sell without feeling bad.

When money is invisible, anxiety fills in the gaps.

Families who pay attention don’t escape inflation — but they experience it differently.

They start noticing things like:

• Some prices really did go up and stayed there

• Some spiked and then came back down

• Some fluctuate week to week

• Some “expensive months” were actually driven by one or two categories (or discretionary spending we didn’t think about)

While that awareness might not make things any cheaper, it does make the picture more clear. Instead of “everything is more expensive,” the story becomes:

“This is where costs changed. This is where they didn’t. This is what we CAN do about it.”

That shift in mindset matters more than most realize.

Why discipline isn’t the starting point

Most money tools assume the problem is behavior:

• Budget harder.

• Spend less.

• Try again next month.

But discipline doesn’t help if you don’t actually understand what’s happening. Visibility comes first.

When money is visible:

• Decisions feel smaller

• Trade-offs feel intentional

• Stress subsides

• Choirs sing heavenly melodies as angels descend from the clouds (results not typical)
  

How IDK Can Help

IDK My Budget wasn’t built to tell families what to do with their money. It was built to make money visible — bills, debt, commitments — so stress turns into strategy.

Paying attention doesn’t fix inflation.
But it fixes confusion.

And in a season where money already feels heavy, that foundation makes everything else easier to carry.

Most Parents Teach Money Now (But It’s Still Hard)

More parents than ever, today, are trying to teach kids about money.

Research shows that most U.S. parents have taken at least one step to help their kids learn how saving works. Some help kids set savings goals. Others open a savings account for them.

But even with good intentions, money is still hard to talk about.

Many adults didn’t grow up learning about money themselves. In fact, one in five older parents said they never taught saving at all. That means a lot of parents are learning money skills while trying to pass them on.

So what does teaching money usually look like?

How Families Learn Money Together

Most families start simple.

Some use piggy banks or savings jars, so kids can see money grow. Others use allowances, usually small weekly amounts. Many parents connect allowance to chores to show that money comes from work.

Parents also teach money during normal life:

• grocery shopping

• trips to the bank

• planning a birthday party

• choosing one thing instead of another

These moments help kids understand that money is limited and choices matter.

Where Things Break Down

Even with these efforts, many parents still feel unsure.

Money tools often assume adults already understand money. They rely on charts, categories, and numbers that make sense after you know what you’re looking at.

For kids—and for parents who don’t feel confident—this creates friction.

Parents feel like they need to explain everything first.
Kids feel like money is abstract and confusing.

So learning stalls.

Starting With Visibility Instead

Some families are starting to focus less on rules and more on visibility.

Instead of teaching kids what they should do, they focus on helping kids see what’s happening. Where money comes from. Where it goes. What it’s already for.

Tools like IDK My Money make this approach even simpler. Money is shown visually, so changes are easy to notice without needing a lesson first. “You had $X. You spent $Y on [this thing]. Now you have $Z.”

This makes cash flow easier to understand—without turning it into a lecture.

MakING It All Make Cents

Parents want to teach their kids about money, but many don’t have the foundations down themselves. Today’s kids don’t need extra classes or extensive financial education and parents don’t need to be experts (that all comes with time). Families just need to put a spotlight on their money.

That’s where learning actually begins.

Sources

• NerdWallet – research on parents teaching saving, generational gaps, and teaching methods

• Ipsos – surveys on allowance use and typical weekly amounts

• The Week – reporting on T. Rowe Price research about allowance and chores

• MoneyTimeKids.com – examples of teaching money through everyday errands