How We Influence Our Kids Financially

I recently attended an event, an organization in which I’ve belonged for many years. Ron Blue, the founder of the organization, was the speaker. I admire Ron for the knowledge and impact of his faith-based financial advice. In fact, my parents read Ron’s book, , when I was in middle school and they taught me principles from that book to start my financial education. I may very well serve as a financial advisor today because of Ron Blue’s influence. 


At the event, Ron told a story of someone who asked him how to teach their kids about money. I thought the response was simple, effective, and would work at many ages and stages. 


  1. More is caught than taught. (so ask yourself how you’re doing as an example)
  2. You learn to manage money by managing money. (give children age-appropriate financial responsibilities)


Ron’s second point goes along with what my parents did after reading his book. My parents told me they were going to give me more money but with it came the responsibility of having to buy more of my own items such as shoes and clothes. At first I felt rich but I quickly learned how much things cost and how fast money goes. It was a valuable lesson. It also incorporated the ideas of giving and saving. 


If your children are grown and have money habits of their own, it isn’t necessarily too late. Multi-generational planning is often done to help educate grown children and start giving them more insight into their parents’ financial picture for various reasons. This time may be used to communicate about finances, healthcare, values, personal decisions and to pass life lessons down to future generations. I’ve heard it said that it is important to  and this is an opportunity to do that.


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Rancho Bernardo Financial Planner