With Mother’s Day falling in May, it felt fitting to share a bit about my upbringing. Growing up, I was fortunate to have a mom who not only taught me many important lessons but also dedicated her career to teaching countless other children as a public school teacher. She believed education came first and valued continuous learning. Today, I approach the advice I give in much the same way, by teaching, not telling. I strongly believe education empowers people to make thoughtful, confident decisions. Some of the most impactful money lessons can start at home, long before adulthood. Throughout this article we’ll explore a few simple financial principles parents can begin teaching their children early on.
The first lesson is a foundational one, delayed gratification. Almost every positive financial outcome builds on this skill: the ability to delay an immediate reward for something more meaningful later on. This can be taught through simple actions, like saving an allowance or waiting to purchase something instead of spending right away. Learning to wait helps build patience, reduces impulse-driven decisions, and often lays the groundwork for saving and investing later in life.
The next lesson is a timeless one that can be introduced at a young age: spend less than you make. While this principle can be harder to demonstrate directly with children, one effective approach is involving them in everyday money conversations. Talking through financial choices helps set realistic expectations and encourages intentional planning. Learning this lesson early can set them up for the future, so when they begin earning money themselves, they already understand the importance of living within their means.
This next lesson may not seem important until it’s needed, and then it becomes everything. That lesson is saving for a rainy day. Parents can teach this by encouraging children to set aside a small portion of money for “just in case.” There may be no obvious need to save in the moment, but unexpected situations eventually arise. By discussing surprises in a calm, non‑scary way, children learn the value of being prepared and can carry that mindset into adulthood, helping reduce stress when things don’t go as planned.
The following lesson applies not only to finances, but to many areas of life: opportunity cost. Choosing one thing means giving up another. This concept can be taught at a young age and is something children will carry with them well beyond money decisions. Early on, it might be choosing an experience over a toy. As they grow, it could mean completing homework earlier in the week to enjoy more free time later. Through this lesson, children learn that trade‑offs are a natural part of decision‑making and that weighing both sides is essential.
The final lesson is a bit more advanced, but it doesn’t have to be technical. It’s investing for the future, or as I like to call it, playing the long game. One simple way to explain investing is through the metaphor of planting seeds. By starting with something small and nurturing it over time, it has the potential to grow into something meaningful in the future. This lesson encourages a long‑term perspective and reinforces the idea of delayed gratification discussed earlier.
Ultimately, these lessons aren’t about raising financial experts, they’re about teaching children timeless principles about money. When kids learn patience, awareness, and long‑term thinking early on, money becomes less intimidating and more intentional as they grow. This Mother’s Day, I’m especially grateful for the lessons my mom taught me, along with the many other women in my life who have helped shape the way I think, learn, and lead.
-by Jacob Young, AAMS®
Financial Advisor, RJFS
313 East 10th Ave.
Bowling Green, KY 42101
Phone: 270-846-2656
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