'Talk About Finances At The Dinner Table,' Expert Shares Why

Starting young is one of the best wealth-building strategies. Warren Buffett, one of the greatest investors of all time, began investing at just 14. Today, social media is filled with stories of Generation Z individuals achieving financial success early, with some reaching their first million in their early 20s.

As parents, how can we teach our kids about finances so we can set them up for success? We found out that it's not as hard as we think it is.

Teaching Kids About Money Through Everyday Conversations

In an interview with Salve Duplito of Salve Says, the award-winning financial journalist and a mother of four revealed she has been teaching her children about managing money since they were little.

"We talk about inflation, GDP, banking, and investing at the dinner table, while on trips, or even while watching TV. They are naturally curious, so they keep asking questions," Duplito tells Smart Parenting. "Children should learn finance seamlessly as part of life, not as a separate class. Otherwise, they’ll see it as a specialized skill rather than a life skill," she explained.

"Teaching them how to save money is easy, but everything starts when they are little—not so much in what you say, but in what you do at home. How they see you is more powerful than any lecture about making, keeping, and growing money." —Salve Duplito

She emphasizes the importance of teaching kids where money comes from—through work and investments, not just gifts or allowances.

"Teach them that hard work is needed—whether it's doing chores, studying, or helping others. Teaching them how to save money, what stocks and bonds are or where to invest is easy, but everything starts when they are little—not so much in what you say, but in what you do at home. How they see you is more powerful than any lecture about making, keeping, and growing money. Working should bring joy, not stress, because it allows them to buy the things they need. And don’t just teach them to save—teach them how to spend wisely, too," she added.

In an article by Ameena Rey-Franc of Thrifty Pinay, she encourages parents to teach their kids age-appropriate lessons about money. For example, kids as young as 2 by familiarizing them with the colors and numbers found in paper bills. When they turn 4 or 5, teach them how to pay. Big kids age 6 to 8 can be taught how to budget, until they are ready to learn how to negotiate and invest. 

Tips from Parents on Raising Money-Smart Kids

In support of Duplito's point, we asked parents at the Smart Parenting Village, a Facebook community of parents, their experience on teaching finances to their children. 

1. Teach them that money comes from hard work

Mommy Esmenda Anna, a stay-at-home mom of two, ages 19 and 6, has been teaching her kids about money since they were little.

"As early as 5 or 6, I teach them the value of every peso. I explain how their dad works hard abroad so we can live comfortably," she shared.

Her daughter started receiving an allowance in Grade 2, and she has been teaching her to save and invest since then. Even her 6-year-old son already has savings.

"It's not just inheritance (money, property, etc.) that I should pass on to him, but also proper knowledge on managing it. As parents, we should be financially literate so we can teach them well, too." —Maine Cemanes-Verona

2. Enroll kids in school that teaches about finances

Melchie Ortiz-Caz, a working mom of three, ages 3, 9, and 11, is grateful that her children's school in Muntinlupa includes financial literacy in the curriculum.

She explained that in school, they learn about savings, needs vs. wants, and basic budgeting. Their school holds age-appropriate activities like budgeting Php 300-500 for grocery shopping or selling food for a profit to learn about income and expenses.

If your child's school doesn’t offer financial literacy classes, there are online courses that teach kids how to manage money, like Kiddopreneur and Udemy.

3. Improve your mindset about money

Maine Cemanes-Verona, an HR professional and mom to a 10-year-old, believes parents must first educate themselves about finances so they can practice what they preach.

"For me, financial knowledge is just as important as inheritance. I read books and watch videos about money management so I can teach my child wisely," she said.

Her son's money is currently invested in a cooperative and a bank, thanks to a scholarship benefit from her company. She teaches him to budget his fixed weekly allowance.

"As parents, we should be financially literate so we can teach them well, too." she added.

4. Teach kids how to earn, not just to save

Children don't have to wait until adulthood to start earning. I remember selling small items to my classmates when I was in Grade 3, and my mom gave me a commission for each sale. This motivated me to be business-minded until college, and now that I'm an entrepreneur.

Parents should encourage their kids to take on small money-making ventures early on. For example, Dream Lab in Makati offers unique, experimental activities where children experience running different types of establishments.

There are also online platforms that offer financial literacy programs designed to teach kids about entrepreneurship and money management.

Teaching kids financial literacy is a life skill

In today’s fast-changing world, financial literacy is a life skill every child should have. As parents, we owe it to our children to equip them with knowledge that can help them in the long run.

By teaching them at an early age, making financial education part of everyday life, and leading by example, we can raise money-smart kids who are prepared for a financially secure future.