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
