# data[].attributes.body
A blog MIGHT be a good source, but remember--ANYBODY can make a blog. I could make a blog about financial literacy--it doesn't mean that I know anything. An academic article is a much more authoritative source.
Either way, this is not an APA citation.

# data[].attributes.body
Youtube cannot be the author.

# data[].attributes.body
Meraji, S. M., & Tagle, A. (2021, August 3). Want to teach your kids about money? Start by including them in the conversation. NPR. \
https://www.npr.org/2021/07/27/1021262899/finance-money-tips-kids-families-conversations

# data[].attributes.attachment_link.readable_text
subscribe to Life Kit podcast

subscribe to Life Kit podcast

Do you remember how you first started learning about money?

Setting up a lemonade stand? Selling Girl Scout cookies? Or maybe just watching how your parents dealt with household expenses?

Our upbringing plays a big part in shaping our relationship with money "because our kids see and do everything that we do," says financial expert Jen Hemphill.

It's a lesson she learned firsthand. When she was young, Hemphill's family moved from Colombia to the U.S., and money was often tight.

"I didn't ask my parents for money because they had already told me they didn't have it," she says. "I was that kid."

Hemphill carried that ultra-frugal "we can't afford it" attitude into her adult life - until she realized just how much that singular mindset was limiting her family's ability to financially grow and thrive. Now, as an accredited financial counselor and host of the Her Dinero Matters podcast, Hemphill helps other people take control of their own money stories and aids parents in finding their family's best financial footing.

A healthy money mindset in the household starts by making a team effort, she says.

Read on for some top tips on financial literacy for kids and families from our interview with Hemphill, or click the link at top to listen to the full episode.

Talk about money as a family, openly and often

Money can feel like a taboo topic in a lot of households. Hemphill says the only way to shake off the awkwardness is to have regular family discussions about money in which everyone in the household is included. A lot of parents might feel inclined to leave younger children out of money conversations to shield them from hard topics or money woes, but Hemphill says these talks don't have to be serious or scary.

"I always start with money wins," Hemphill says. "It could be anything from finding some money on the street to being able to resist some impulse spending when you were out and about."

Sharing positive money stories is an easy, casual way to help your family normalize thinking about and discussing financial planning, says Hemphill. She suggests setting aside time at least once a month for a family money talk in which everyone gets a say and can contribute to the family's financial goals.

If you're unsure about what's OK to discuss, Hemphill suggests the Money as You Grow guide from the Consumer Financial Protection Bureau as a great resource for crafting age-appropriate conversations.

Including kids of all ages in small acts of financial decision-making in the real world is another great way to keep the whole family actively money minded. If you're at the grocery store, says Hemphill, you could try giving your 5-year-old the opportunity to pick the bread you're going to buy from a few options and then talk to the child about their reasoning. Or if you're out going back-to-school shopping, you could do some price comparisons with your tween to help grow the child's saving muscles.

An allowance isn't one size fits all

The essential element when deciding about an allowance, says Hemphill, is to remember "you know your kid best." Don't be swayed by your own childhood experience or what your peers might be doing. She has worked with parents who don't agree with assigning financial value to essential household duties, and others who find an allowance to be a great motivator.

From there, parents should first look at their own budgets and assess how much of an allowance they could comfortably afford. Then, to decide on an age-appropriate offering, think about what your child needs money for and any goals you've crafted with them. Because "if they're 5 years old versus 13, the amount is going to be different, right?"

When you've settled on your when, why and how much, make sure the terms of the allowance are clear-cut: Will it be tied to chores, behavior or neither? Are the children required to save a certain amount? For older kids, could you offer more in allowance and then make them responsible for buying some of their own necessities?

An allowance can be a powerful learning tool, says Hemphill, because it gives your child the opportunity to manage their own money and still have you to guide them if they fail.

"Make those mistakes early on so you can have the discussion of 'OK, what could have been done differently, and how would that have benefited you better if you did?' " Hemphill says.

Start saving as early as possible

Savings is the most important financial habit to instill early on, advises Hemphill.

If you can make saving a regular part of life when kids are young, she says, it'll "be a no-brainer" when it's time for them to fly the coop. You can start with kids as young as toddler age, says Hemphill, by using a good old-fashioned piggy bank!

She suggests trying a give-save-spend bank, which can work as a fun and easy tool for even the youngest little ones to start thinking about goal-setting as well as helping others. Then, whenever your child gets some birthday money or a monthly allowance, make sure to talk with your child about the best way to divvy up the dough. If you want to take savings goals even further, you can encourage your kids to always put 20% of new earnings into their savings slot, says Hemphill.

As kids get older or show some interest, consider setting up a kid-friendly bank account. Hemphill advises shopping around: Look for banks that will waive certain fees or don't have a standard minimum balance requirement. When you've found the right one, she suggests taking your kid into the bank with you, if possible, to open an account together and cash in on that teachable moment.

Don't wait - it's never too late

When parents lack confidence or control of their own financial situation, they can be less willing to talk about money with their children. But if you wait until your finances are perfect before teaching kids about money, "then you're doing a disservice to your kid."

Children are impacted by a parent's financial decisions whether or not you choose to include them in the conversation, stresses Hemphill. If you're transparent about your money choices instead of leaving kids in the dark, you're setting them up better for success by helping them understand the power money can hold and providing opportunities to learn from your mistakes together.

"The sheer act of talking about it brings confidence," says Hemphill, so don't stress if your financial life feels a bit out of sorts or if you didn't practice good money habits with your kids from the get-go. "It's never too late. A lot of grown-ups never talked to their parents about money, right?"

You don't have to be perfect, Hemphill reminds us - you just have to start the conversation.
The audio portion of this episode was produced by Andee Tagle with engineering support from Neil Tevault. We'd love to hear from you. If you have a good life hack, leave us a voicemail at If you love Life Kit and want more, subscribe to our newsletter.202-216-9823, or email us at LifeKit@npr.org. Your tip could appear in an upcoming episode.

# data[].attributes.attachment_link.title
Want to teach your kids about money? Start by including them in the conversation : Life Kit

# data[].attributes.attachment_link.description
Money can feel like a taboo topic in a lot of households, but talking about it regularly can take the awkwardness out of it.Kids see and do everything that we do, and that's true when it comes to money, says financial expert Jen Hemphill.In this episode, Hemphill shares her top tips for financial literacy for kids and families, including how to start those conversations and creating a healthy money mindset for everyone.

# data[].attributes.body
Kiyosaki R. (2019). Don’t go to School, Don’t pay Taxes, Get Into Debt. YouTube. https://www.youtube.com/watch?v=c-1VSa5-ODQ.

# data[].attributes.body
https://www.debt.ca/blog/the-benefits-of-teaching-financial-literacy-to-the-youth.

# data[].attributes.headline
Teaching financial literacy to the youth: Kids and money

# data[].attributes.subject
Teaching financial literacy to the youth: Kids and money

# data[].attributes.body
(With this words I don't pretend to underestimate or criticize schools, is just a point of view of the author and also a general word to introduce a specific topic)

People sitting inside their heads the words from their parents saying, go to school, get a job, pay taxes, save money among others. This create poor people (Hypnosis training). How do i change my live? -You change your words

# data[].attributes.body
https://prezi.com/cot0xlwkrnpj/teens-guide-to-financial-statements/

# data[].attributes.body
Kiyosaki, R. T. (2012). Rich dad's rich kid, smart kid: give your child a financial head start. Plata.

# data[].attributes.body
Nicolas,
When I start in the center, I am not really clear about your main topic. I know a little bit from what I saw last year, but when I read what you have here, I am a little confused. "Raising workers" doesn't immediately sound like a bad thing, so when you say it is "the problem in our society," I immediately have dounbs. What is a different way you could say that so that people will immediately understand what you are trying to communicate? Maybe a suggestion would be instead of focusing on the problem, focus on the solution. "Importance of forming their financial lives from AN early age," might be a better starting point because it is proposing something to do (to PROJECT!).

# data[].attributes.body
One of the principal reasons for teenagers to make decisions comes from their families, in this case the problem of become from families who have been raised in another era (industrial era), involving us their ideologies that worked 30 years ago.

# data[].attributes.body
The purpose of this Senior Project is to be able to influence the education of young people, teens or even children, and help them begin to build their financial lives, even before leaving High School.

# data[].attributes.body
Teens and children are not being educated from an early age in what will be the rest of their lives when they finish their studies. Since a few years ago, they have been taught in  an educational format made hundreds of years ago. This consists in memorizing and spitting out basic topics on a sheet of paper. Then study what their parents or, in the best case, what they want in a university, and finally look for a good job that guarantees “Financial Security”

# data[].attributes.headline
Don’t go to School, Don’t pay Taxes, Get Into Debt.

# data[].attributes.subject
Don’t go to School, Don’t pay Taxes, Get Into Debt.

# data[].attributes.headline
Defects committed by families and educational system in teens

# data[].attributes.subject
Defects committed by families and educational system in teens

# data[].attributes.headline
"Importance of forming their financial lives from early ages"

# data[].attributes.subject
"Importance of forming their financial lives from early ages"

# data[].attributes.headline
Raising employees, the problem in our society

# data[].attributes.subject
Raising employees, the problem in our society

# data[].attributes.body
Main Topic