Episode 15 : TOP 5 Money Lessons Parents Fail to Teach

Episode 55:The Top 5 Money Lessons Parents Fail to Teach Their Kids...

Kids, what have your parents taught you about money?

And adults, what did your parents not teach you that maybe you wish you’d had a heads up?

In today’s episode, we tackle the top five money lessons parents fail to teach their kids.

Hey everyone! Welcome back to the Cash Kid Podcast — where we teach kids, teens, and even some adults how to earn, save, and invest money.

I’m your host — the Cash Kid — and today, we’re diving into something that’s been on my mind for a while...

The Top 5 Money Lessons Parents Fail to Teach Their Kids...
(and don’t worry — if you’re a parent listening — this isn’t about making anyone feel bad. It’s about all of us learning how to be better and set up the next generation for success.)

So let’s get into it!

🎯 #1: Not Teaching the Value of Money and Hard Work

One of the biggest mistakes I see is when parents just give kids money...without connecting it to any effort.
It sounds awesome, right? Free money!
But the problem is, it teaches kids that money just appears...without work.

Now, I’m not referring to money they get for a birthday or holiday. It’s the scenario of them asking for money and you just freely handing it over.

It’s like if a teen knocked on your door, said they would mow your lawn for $50 bucks. You pay them and then they just walk away. You just lost money and still need to mow your lawn.

How can we fix that?

• Tie money to chores or responsibilities around the house.

• Encourage us to earn money through side jobs like mowing lawns, dog-walking, or babysitting.

• And share stories about your own work! Kids learn a lot by hearing how you make and manage your money.

When kids understand that hard work equals rewards...we start respecting money and ourselves a lot more.

Plus, we’re less likely to be willing to give up or spend our money on unnecessary items as we know how hard it was to earn that money in the first place.

🎯 #2: Not Talking About Budgeting and Saving

You hand a kid twenty bucks...and 10 minutes later it's gone.
Sound familiar?

That's because budgeting and saving don't come naturally — they have to be taught.

Here’s a simple fix:

• Teach us to split our money into "Save, Spend, and Give" jars.

• Help us set real savings goals — like saving up for a bike or a cool gadget.

• And most importantly...explain the difference between "needs" and "wants."
  We need food. We want the latest new OnCloud shoes or clothes. There’s a big difference!

Greenlight is an app I use to set up save, spend, and give categories. It’s all digital and easy to move money from one bucket to the next. Parents and kids both have access to it to monitor it and help reach the goals together.

Budgeting isn’t boring when you turn it into a challenge or a goal we’re excited about.

🎯 #3: Avoiding Conversations About Debt and Credit

A lot of parents think, "My kid doesn’t need to worry about credit cards yet."
But here’s the thing — by the time we do get a credit card, if we don’t understand how debt works, we can get into serious trouble.

A better way?

• Start small. Let your kid "borrow" $5 with the promise to pay it back with a little interest.

• Talk about how credit scores work and why they matter.

• And share real stories from your life — like how you bought your house, your car, or even mistakes you made with debt.

Money mistakes happen...but learning early can help us avoid some big ones later.

One of the tried and true measure is when a teen turns 16 they can be made an authorized user on their parents credit card and have them only use it to buy gas and pay that back every month. It helps to build their credit and experience in how credit works… and that it’s gotta be paid back… or you’re in debt.

🎯 #4: Not Encouraging Entrepreneurship and Investing

Saving is good — but growing your money is even better.
And guess what?
Kids can totally understand investing and entrepreneurship if someone takes the time to explain it.

What are some ways you can help:

• Introduce simple concepts like stocks, bonds, and ETFs.

• Support our business ideas — like selling bracelets, mowing lawns, or even running a YouTube channel!

• And point us to real success stories of young entrepreneurs who started early.

You never know — the next Elon Musk or Oprah Winfrey might be sitting at your kitchen table! Don’t be the one to discourage them. Find a way to help them expand on their business mindset in a educated way.

🎯 #5: Not Setting a Good Financial Example

Parents, we’re watching you — even when you think we’re not!
If you’re always swiping credit cards, shopping online, or arguing about money...that’s what we learn.

Here’s what helps:

• Be open about money. Let us see the family budget.

• Talk about savings goals you're working on.

• And let us be part of little decisions, like picking cheaper groceries or planning a budget-friendly family outing.

The more we see smart money moves in action, the more likely we are to copy them!

And be honest with us. If you’ve made bad financial choices before and feel we could learn from it, share so we can avoid those same mistakes.

And if you don’t have the answer, help them find the right one. Make it an activity to do together.

[Closing Thought]

At the end of the day, parents don’t have to be perfect about money to raise financially smart kids.
It just takes honesty, a little guidance, and making money talks normal — not scary.

Kids WANT to learn.
We want to be independent and successful with our money.

So whether you're a parent, grandparent, or a kid tuning in — remember: it’s never too early (or too late!) to start learning about money.

🎙️ CASH KID (closing voice):
Thanks for hanging out with me today on the Cash Kid Podcast!
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And hey — if you liked this one, share it with a friend or parent who could use a little money motivation too.

See you next time. Remember, anyone can be a Cash Kid. You just have to learn how to become one. Cash Kid, out!