Why start teaching money early
In many Indian households, money is a taboo topic. We tell children to focus on marks and promise they will "figure out finances later." That mindset leaves them unprepared for adulthood.
A University of Phoenix article on financial literacy notes that money skills can be learned earlier than you might expect, and that teaching kids about finances strengthens the whole family's approach to planning, budgeting, and saving. Children learn by modelling adults. Every grocery run or bill payment is a chance to involve them. When you pay for food, ask your preschooler whether to use cash or card and count coins together. They will grasp that money is limited and choices matter.
Everyday lessons that build financial confidence
A founder's journey with money and entrepreneurship
I did not grow up talking about budgets. My first personal finance lesson was a bounced cheque at age 22. Since then, I have made it a mission to normalise conversations about money with my kids.
When we planned a family vacation, we involved them in comparing flight prices and allocating funds for souvenirs. Last year my daughter organised a bake sale to raise money for animal shelters. She learned to price cupcakes, promote the sale, and manage her costs. Watching her beam as she handed over the donation reminded me that financial literacy is not about hoarding wealth. It is about empowerment and generosity.
Teaching money skills early equips our children to build independent, resilient lives. Pairing financial literacy with entrepreneurial experiences shows them that they can create value and make a difference. Let's move beyond marks and empower our young people to manage resources wisely and dream boldly.
Frequently asked questions
At what age should I start teaching kids about money?
As soon as they can count. Pre-schoolers can match coins to candies. By 8-10 they can manage a small allowance. By 13-14 they can run a small income-earning activity. The earlier, the more natural it becomes — money stops feeling mysterious.
Should I give my kids a fixed allowance?
A small fixed allowance teaches budgeting. Pair it with optional bonus earnings for extra effort (chores beyond the basic, freelance-style projects). The combination teaches that some income is dependable and some has to be earned through initiative.
How do I teach a teenager about entrepreneurship without overwhelming them?
Start small and tangible. One weekend project — a bake sale, a tutoring gig, a Depop / Instagram art shop. Let them set the price, do the work, count the money. The lesson is in the experience, not the lecture.
