And how to start building their financial future today
As parents, we teach kids to say “please” and “thank you” – but do we teach them how to save, spend, or plan for their future?
A recent article from Eastspring Investments outlined 20 smart money lessons for kids. We’ve pulled five that stand out the most for today’s digital world – and added a simple way to put them into action.
1. Needs vs. Wants
Before your child understands budgets, they need to recognize priorities. New sneakers might be fun – but groceries, rent, and gas come first.
Try this: When shopping, talk through what’s essential and what’s extra. This creates a habit of thoughtful spending.
2. Saving First
Teaching kids to save a portion of every gift, allowance, or earnings builds long-term thinking.
Try this: Use the 3-jar method (Spend, Save, Share) – or better yet, move savings into a custodial account where it can grow.
3. Understanding Digital Money
Swiping a card or tapping a phone can make money feel unlimited. Help kids understand that invisible money is still real money.
Try this: Narrate your digital transactions. “We just spent $72 on groceries. That comes out of our weekly budget.”
4. Why Investing Matters
Saving is important – but teaching kids how money can grow is a game-changer.
Try this: A custodial investment account, like a UNest UTMA, allows parents to invest on a child’s behalf for long-term goals.
5. It’s Never Too Early
Money habits start young – and the earlier your child learns, the more confident they’ll be later.
Try this: Automate a small monthly contribution to your child’s account. Even $10–$25/month can create real opportunity over time.
Wrap-Up
Raising financially savvy kids starts with small conversations – and small actions. A consistent saving and investing habit, supported by tools like UNest, helps make those lessons stick.
