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Simple how-to steps to teach your kids great money habits

Updated: Dec 13, 2023

Simple how-to steps to teach your kids great money habits

Today, we are featuring a guest blog post written by Melanie Rousseau, the founder of Money Mamato

My journey to financial independence started at the age of 16, and it has been quite an interesting ride so far. From eating peanut butter for dinner in college to buying my first real estate property at 26 in downtown Toronto with a mediocre income, I have experienced the ups and downs of my finances.

So I get you; I know the feeling of trying to move through the fear of not being able to make your next rent payment or figuring out how to stretch your grocery budget to make it through the week. Being a mom of 2 and seeing my grocery bill grow as fast as my kids grow reminds me of how important expanding our money mindset is.

Jokes aside, I have also witnessed the abundance of what life has to offer and how much support we possess when we believe that we are worthy of wealth. So, if you find yourself in a sticky financial situation today,

I want you to know that you can bounce back.

You can reach a point of financial satisfaction and more: financial freedom. Every day, you have another chance, and once you create a financial abundance environment for yourself, your kids will benefit tremendously from your groundwork. Wouldn't it be nice?

This is why my passion for helping parents teach their kids about finances early is my MISSION!

The first question I always get is: "But where do I start?" since I like to make things easy and simple, here are 5 steps you can implement today to give your kids a head start!

here are 5 steps you can implement today to give your kids a head start with money

1) Talk about money like it is your BFF

Our kids are listening more than we think they are, so when talking about money, talk about it like it's your best friend and the most supportive "friend" you can ever have. Talk about it positively and enhance the relationship with it by adding affirmations like:

I love money, and money loves me - I am a money magnet - Money flows into my bank account easily.

When you pay your bills, be mindful to express gratitude that "you get to" have/pay your electricity bill; for instance, I have to pay my electricity bill with an annoying tone of voice.

2) Bring your kids into your decisions

We tend to assume that our kids are too young to bring them in on our money decisions. Yet, they are such sponges that you will engrave a strong money habit early. This is why I strongly encourage this step as

knowledge + experiences = CONFIDENCE

Resulting in giving your kiddos a BIG head start. The most important part is to make it fun. It will also allow them to ask questions and become curious about the reason why you make certain financial decisions, manage debts, and create your money plan.

3) Be mindful of your words when you talk about money.

Perfect example and the most frequent thing I hear is, "We can't afford this." I would like you to consider instead saying: "It isn't aligned with Mama’s financial wants/goals/vision/money plan.”

Focusing on what you can't afford will not bring you more wealth; it will most likely block the vibe of possibilities if anything. Daydreaming about things you want to see happening is actually a good thing. If you can imagine it, you can have it! So again, you GET to choose where you allocate your money - teaching your kids that they are in the driver's seat of their finances will keep their minds and energy flowing where they want to go and have.

4) Expand your mindset

A great way to do this is to sample your dreams and show your kids to do the same early on so they will make it a natural habit to trick their brains into believing they already have it.

For example, if you would like to have a house, go and visit your dream home.

5) Introduce money concepts early

I started talking about money to my son at age 3 after we returned from Mexico and started a 'Beach' bank when he asked to return to the beach. I used this opportunity to talk about the concept of savings.

Another opportunity I had with him was when he asked me to give him an allowance as his other friends were receiving it. I shared with him that paying for chores isn't aligned with my values, but I suggested brainstorming ideas with him about how he could earn money. Then I took it a step further and showed him if he started saving $100 a month from age 10 to 20, he could become a millionaire, so the compounded interest was introduced. From that point on, I got him so motivated that he created a business of tie-dye shirts to come up with the $100/month.


Money Mama is there to help you with the what ifs of life and makes it easy to protect your business and income.

Money Mama is here to help you and your kids win - visit their website or follow on IG @moneymamato. You can also check out more blogs from Money Mama here.


What's next?

If you would like to know more about why starting early counts, download the Compounding Interest Booklet on their website:

You can follow Untangle Money on Instagram, Pinterest and LinkedIn to see more content about women and money, personal finances and planning for your financial future. You can also check out our other blog posts here!

Women should consult us to help them plan finances

At Untangle Money, we help women understand their (real!) financial picture and obtain financial guidance from people who actually, really get it; this is why.

We offer affordable options so that we are accessible to everyone. We would love to help you, too!

Join the community of hundreds of other women looking to strengthen their financial well-being. You can check out our products and plans here or

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