How to use intentional parenting to raise money-savvy kids

Money doesn't grow on trees, and neither do money-smart kids. Cultivating financial literacy takes a little work and lots of love. But it's a parenting investment that pays off big time. It starts with intentional parenting. 

What is intentional parenting?

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Intentional parenting means being deliberate and purposeful with your actions as a parent, even (and especially) while teaching kids about finances. It means taking time to think about your parenting goals and values and using those as a guide for teaching life skills like money management. By having an intentional plan, you can help shape your child's financial habits and attitudes.

Intentional parenting strategies for raising money-savvy kids

1. Start early. As soon as your child is old enough to understand the concept of money, start teaching them basic financial principles. Things like counting and sorting different types of coins or learning how to make a budget for their allowance.

2. Lead by example. Kids often learn by observing and imitating their parents' behaviors. Model responsible spending habits and involve your kids in household financial decisions to help them understand the value of money and money management.

3. Use teachable moments. You can turn everyday situations into valuable learning opportunities for kids. If you're at the grocery store, explain the difference between needs and wants as you decide what to buy together.

4. Practice delayed gratification. In a world of instant gratification, teaching your child the value of patience can translate into a valuable lesson in financial management. Whether saving for a toy or waiting to buy something on sale, this skill will serve your child well.

5. Talk openly about money. Many parents avoid discussing it with their kids, but open communication is key to raising financially responsible children. Don't be afraid to discuss budgeting, saving, and even financial mistakes with your child.

Why intentional parenting works for raising money-savvy kids

With Intentional parenting, you can take a proactive approach to shaping your child's financial habits. By strategically weaving in money-specific concepts, you can instill positive values and behaviors to help them in the future. It also creates a strong foundation for open communication and trust between parent and child.

Remember: Solid financial decisions come with experience

As your kids get older, involve them in financial decisions that affect the family. Have them create a grocery list within a budget or include them in discussions about big purchases. By giving them a voice and showing that their opinions are valued, you’re teaching them to be responsible decision-makers with money.

Manage money safely together 

Intentional parenting and financial literacy go hand-in-hand with tools like the Greenlight debit card. You can set up allowances, track spending, and assign chores and rewards. Because you’re in control, it’s the perfect tool to safely teach kids financial responsibility and budgeting.

Intentional parenting can be a powerful way to raise money-smart kids. It takes patience and, yes — intention, but it's worth it!