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.