How To Teach Your Kids About Money

Hey, guys! Welcome to your one-step resource for helping your kids learn good money habits. Watch this video for more details:

Earning Money

Kids can (and should) start learning the value of hard work from an early age! In this section, you’ll find content that will help you teach your kids about how to earn money.

  • Step 1: Help them set a savings goal.

    Let’s be real: Your kids will want to buy something at some point. As the parent, help them define their goals by guiding them on which purchases they’re allowed to make and showing them how to earn money so they can buy what they want with cash.

  • Step 2: Teach the connection between work and money.

    Kids need to know that money comes from work (not debt). Explain that when people have jobs and do their work, they get paid—and when they don’t do their work, they don’t get paid. Commission-based chores are a great way to help them learn this.

  • Step 3: Set clear expectations on chores.

    You decide which chores to pay your kids for and which ones are expected of them as a family member. And you make the rules on how much each chore is worth based on your budget, your child’s age, etc. You can also help your kids find other ways of earning money that go beyond chores.

Read More

How To Make Money As A Kid

Chores for Kids

Doing chores is one of the best ways for kids to start earning money (and helping you out)! Here are some great age-appropriate chores to try.

Should Kids Get An Allowance?

Should Kids Get an Allowance?

There’s a big difference between getting an allowance and earning a commission. Let’s talk about why I think one is better than the other.

Using Money

Making money is exciting for kids—but it’s super important that they know how to use that money wisely. In this section, you’ll find content that will help you teach your kids all about what to do with the cash they’ve earned.

  • Step 1: Explain that giving comes first.

    Tell them about the power of generosity and that there are plenty of ways to give money (at least 10% of what they earn), whether it’s to a church, charity or individual. You can help them brainstorm creative ways to give their time and talents too.

  • Step 2: Keep encouraging them to save.

    Explain that saving can be hard, but it helps us be patient, and it’s worth it when we finally reach our goals. As they earn money, help them organize it into giving, saving and spending envelopes or jars.

  • Step 3: Teach them how to spend the right way.

    Celebrate their hard work with them and help them make a simple plan (aka a budget) for exactly how they’re going to spend their money based on the goals they’ve already set.

Read More

Teaching Children How To Save

3 Lessons We Learned From a No-Spend Summer

A no-spend summer (or even a no-spend month) can be a great way for kids to learn the power of saving firsthand. Here’s what happened when we tried this with the Cruze kids!

15 Ways To Teach Kids How To Save

15 Ways to Teach Kids About Money

Here are plenty of tips and ideas for what your kids can do with their earnings, organized by age group (because these money skills matter at any age)!

Using Money

preview of Give, Save, Spend labels

Daily Gratitude Activity

This worksheet gives your kids space to write down or draw something they’re grateful for each day. It’s a perfect way to start having simple, ongoing conversations about gratitude as a family!

preview of Give, Save, Spend labels

Coloring Pages From My New Books

Help your kids get off their screens and get creative! Print off these coloring pages of their favorite characters from my books I’m Glad for Where I Am and I’m Glad for What I Have.

preview of Give, Save, Spend labels

Give, Save, Spend Labels

Here’s a simple—and cute—way for your kids to keep track of their money so they can start using their earnings to bless others, build wealth, and spend with intentionality.

preview of Daily Chore Chart

Daily Chore Chart

This fun, easy-to-use chart will help your kids keep track of the chores they’ve done—and still need to do—while keeping their goal in sight.

preview of No Spend Calendar

No-Spend-Month Calendar

If your kids try a no-spend-month challenge, they can color in this calendar to track their progress and how much money they save throughout the month.

Sign up now to get access to all the free downloads on this page, plus you'll get my newsletter with plenty of other free content and resources to help you (and your kids) win with money.

By submitting this form you are agreeing to the Ramsey Solutions Terms of Use and Privacy Policy.

Check Out My New Kids Book!

You guys . . . I just wrote my second kids book. This one will help you start meaningful conversations with your little ones about gratitude (a topic that goes hand in hand with money). It’s available now, and I couldn’t be more excited to share it with you and your family!

preview of Rachel Cruze's new kids book "I'm Glad For What I Have"

More Helpful Resources

Let's Connect!

YouTube Instagram TikTok Facebook Twitter