Many parents say they were never taught how to manage money, and that can make it hard to know where to begin with their own kids.<\/p>\n
During Financial Literacy Month, the In Your Corner podcast from CBS News Philadelphia explores how families can start building smart money habits early, even in a world where cash is rarely used and spending often feels invisible.<\/p>\n
Certified financial planner Regina McCann Hess says kids begin learning about money long before parents realize it.<\/p>\n
“They learn the money mindset early,” she said.<\/p>\n
Everyday moments matter<\/p>\n
McCann Hess says everyday situations, like grocery shopping or saying no to an unplanned purchase, can help kids understand how money works.<\/p>\n
She says those small conversations help set expectations and normalize talking about spending and saving.<\/p>\n
How to teach kids about money (at every age) | In Your Corner Podcast, Ep. 18<\/a> by Making money tangible again<\/p>\n With so many transactions happening digitally, McCann Hess recommends using cash to help kids visualize money.<\/p>\n “I think it’s a great way to teach children with the cash,” she said.<\/p>\n She suggests giving kids a set amount and letting them decide how to divide it.<\/p>\n “They can see, OK, well, I’m going to put $3 in my save and $4 in my spend and $3 in my donate,” she said.<\/p>\n Watching money accumulate over time helps make the lesson stick.<\/p>\n Needs vs. wants<\/p>\n Another key lesson is teaching kids the difference between what they want and what they need.<\/p>\n “You don’t need the latest phone,” McCann Hess said.<\/p>\n She says letting kids save toward goals, instead of buying things immediately, teaches patience and long\u2011term thinking.<\/p>\n Starting earlier than you think<\/p>\n McCann Hess emphasizes that parents don’t need to be financial experts to get started. What matters most is starting the conversation and keeping it going as kids grow.<\/p>\n “The sooner you start, most people don’t even want to talk about money,” she said. “It’s like one of the most uncomfortable things.”<\/p>\n She says making money a normal topic at home helps kids feel more confident later in life.<\/p>\n You can hear the full discussion on the latest episode of the In Your Corner podcast. Each week features a different guest expert. You can find new episodes posted every Wednesday on the CBS Philadelphia YouTube channel.<\/p>\n Looking for help with a consumer issue?\u00a0Click here to submit your complaint to In Your Corner<\/a>.<\/p>\n \n More from CBS News\n <\/p>\n
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