9 Tips for Teaching Kids About Money (2026)

Financial experts share advice on fostering financial literacy and independence among young people.

Apr. 11, 2026 at 11:36am

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A high-contrast, silkscreen-style illustration featuring a repeating grid of a single iconic money-related object, such as a piggy bank or credit card, rendered in a vibrant, neon color palette to conceptually represent the value of teaching kids about personal finance.Bright, bold visuals capture the importance of instilling healthy money habits in young people to set them up for long-term financial security and independence.Chicago Today

Financial Planning experts Carrie Schwab-Pomerantz and Chris Kawashima share their top tips for instilling healthy money habits in kids at three crucial early stages of life - introducing the value of money, encouraging saving and investing, and helping them manage credit and budgets as young adults.

Why it matters

Many young people aren't getting a proper education in personal finance fundamentals like budgeting, investing, and saving. This article provides practical guidance for parents to ensure their kids are prepared to achieve financial security and independence as adults.

The details

The experts recommend starting early by giving kids an allowance tied to chores, encouraging them to save a portion of their money, and eventually opening custodial investment accounts to teach them about the stock market. As teenagers, they suggest introducing credit cards as authorized users and helping them set budgets for their first jobs after college. Throughout, the focus is on developing good money habits like delayed gratification, responsible credit usage, and long-term investing.

  • Financial Planning experts shared these tips in April 2026.
  • As of 2022, just 23 states required a personal finance course for high school graduation.

The players

Carrie Schwab-Pomerantz

CFP® professional, president of Charles Schwab Foundation, managing director of Schwab Community Services, and board chair of Schwab Charitable.

Chris Kawashima

CFP® professional and a senior research analyst at the Schwab Center for Financial Research.

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What they’re saying

“When I talk to people about their own financial educations, I hear a lot about regret—regret that they didn't learn the fundamentals sooner.”

— Carrie Schwab-Pomerantz, CFP® professional, president of Charles Schwab Foundation, managing director of Schwab Community Services, and board chair of Schwab Charitable

“It's really up to each of us to ensure our kids are prepared to thrive as adults. Otherwise, it could take them years to figure it out, all while saving too little and spending too much—both of which are huge barriers to financial security.”

— Chris Kawashima, CFP® professional and a senior research analyst at the Schwab Center for Financial Research

What’s next

As more states move to require personal finance education in schools, this article provides a helpful roadmap for parents to take an active role in developing their children's financial literacy and independence.

The takeaway

By teaching kids about money management, budgeting, saving, and investing from an early age, parents can give their children a significant head start in achieving long-term financial security and success.