Set Your Kids Up for Financial Success

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My daughter has been saving money her whole life and I feel I have always tried to teach her how to be smart about money but I recently learned some tips on how to set your kids up for financial success that I have never implemented before.

They forced me to take a closer look at my own outlook on money and showed me a new approach to take when teaching my daughter about it as well.

Setting Kids up for financial success

I have always been the kind of person that sweats every last penny when shopping. I even wait to bag my groceries so I can watch the items being scanned to avoid being over charged. I always look for coupons online before making any major purchases or visiting any restaurants.

It’s kind of like an obsession of mine but I just can’t stand the feeling that I am wasting money.

Worrying about my families finances and trying to make sure we always have enough has kept me awake many nights and it causes terrible anxiety. Somehow I feel like worrying and constant planning is going to help out but I now know that is part of the problem according to Julie Ann Cairns, the author of The Abundance Code: How to Bust the 7 Money Myths for a Rich Life Now

You’d like your kids to be smart about money.  But wouldn’t you also like to help pave their way to an abundant and satisfying financial life in the future?

If so, there’s a lot more to it than teaching them to budget and spend wisely!

In fact, in some cases the count-your-pennies approach may even sabotage this possibility by passing on fears that “there’s never enough” or “money can easily slip away” and creating beliefs that limit what kids strive for and attain.

Deeply-rooted beliefs about money tend to be self-fulfilling prophecies, says Julie Ann. So one of the best tools you can give kids is a mindset that’s receptive to opportunities for creating abundance.

She offers 4 simple tips for achieving this:

  • Try not to make the concepts of lack and scarcity dictate money conversations with your kids.  When these topics do come up, keep them in perspective by balancing them with stories of hope and progress.
  • Talk together about technological innovations and how they can help increase abundance and well-being throughout the world. Magazines like Discover and Scientific American are rich with examples.
  • Brainstorm about creative ways to make out-of-reach or wish-list budget items accessible rather than saying, “No, we could never afford it.”
  • Encourage kids to be generous by sharing and giving, emphasizing that what goes around comes around and that participating generously in our interconnected ecosystem helps make it — and our own lives — much better.

Above all, be mindful of how certain language such as “money doesn’t grow on trees,” “time is money,” and “money is the root of all evil” can instill fears, anxieties and limiting beliefs that your children will internalize.  This will shape their expectations and behavior in ways that could potentially undermine their prospects for financial success.


  1. Thanks for sharing this, Melissa! Julie Ann’s ideas have certainly gotten me thinking about how I talk to my kids about money.

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