3 Occasions to Talk Money With Your Child
July 28, 2025 School, Employment and Volunteering
Parents
Having financial knowledge and skills is just as important as learning how to read and write. Everyone — even young people — has short-, medium-, and long-term financial goals. That’s why learning how to understand and manage money is a key life skill.
Why is it important to talk about money with teenagers?
It is recommended to introduce kids to basic financial concepts from a young age. This helps them make smart choices based on their goals — whether it’s going out with friends, saving for a new phone, or eventually moving out on their own.
All of these steps take planning and equipment which recquires money. By helping your teen make thoughtful decisions now, you’re setting them up for smart money habits in adulthood.
Here are three great occasions to talk about money, in a way that doesn’t feel overwhelming for them, or you.
1. When your teen gets their first job
Getting a first job often means opening a bank account (if they haven’t already) to deposit their paycheques. This is a great moment to highlight the benefits of having an income, without the pressure of big adult expenses.
Take time to talk with them about what they’d like to do in the next year. Maybe they have a personal project or goal and together, you can explore how regular savings (based on their own terms) can help them get there.
Even if they don’t have a job yet, this conversation can still apply to managing allowance or gift money. If you're comfortable offering a symbolic “salary” in exchange for chores, this can simulate a real income and make the conversation more engaging.
Encourage them to track what they earn and spend, this builds the habit of awareness.
Knowing where your money goes helps you understand what you could have saved and think more carefully about future spending.
2. The family’s grocery and restaurant budget
Quebec is the Canadian province where people spend the highest portion of their budget on food. While you don’t need to share all your financial details, involving your teen in the grocery budget can prepare them for one of the biggest expenses they’ll face as adults.
This exercise shows how one extra restaurant outing can impact the family’s overall food budget. It’s a way to expose teens to the real-life decisions parents often have to make behind the scenes.
3. Family projects (house, vacations, education savings…)
Financial learning starts at home. When you openly talk about your family’s plans, whether it’s buying a home, taking a vacation, or contributing to their RESP, you’re helping them understand how saving and investing make these goals possible
These are great opportunities to introduce basic financial ideas, like income, spending, saving, investing, insurance, and borrowing all through real-life examples.
It’s never too early to start teaching financial concepts. The lessons you share now will help build a strong foundation for their future.
You’re an expert without even realizing it
With this approach, you’ll quickly see that you don’t need to be a financial expert to teach your teen important lessons. The goal isn’t to turn them into a finance guru, it’s to give them the tools they need to feel confident and informed.
When combined with what they learn in school or from books you recommend, these everyday conversations become a perfect complement to their financial education.
And if you ever feel unsure or want extra support, know that there are many organizations that can help. Carrefour jeunesse-emploi de Laval is one of them.
Reference (in French)
