Money with Your Children: How to Build Financial Wisdom from the Ground Up
💭 Why Talk About Money with Your Kids?
For many parents, “the money talk” feels awkward, confusing, or even off-limits. But as Jim Crider and Cade Grimm share in this episode, it doesn’t have to be.
This episode is designed for parents who want to raise grounded, thoughtful, financially literate kids without creating stress or entitlement. It meets the audience’s intent for faith-centered, real-world parenting guidance and actionable family finance insight in one honest conversation.
Talking about money early — and often — isn’t just about teaching your kids to count coins. It’s about showing them how values, priorities, and decisions connect to the way we use money every day.
Jim opens the conversation with honesty: like most parents, he’s learning as he goes. As a dad of four, he admits there’s no playbook for getting it right, but every experience offers an opportunity to guide his kids toward thoughtful financial habits.
👶 When Should You Start Talking About Money?
Research suggests kids begin developing money habits as early as age three. Cade shares insights from a 2016 report showing that children ages 6 to 12 form lasting patterns in how they handle finances — but even preschoolers can start learning basic concepts through play and observation.
The takeaway?
You don’t have to wait until your kids are old enough for an allowance to talk about money. Start by weaving small lessons into everyday life — choosing between toys, snacks, or activities. Every small decision is an early lesson in trade-offs and priorities.
💡 Teaching Opportunity Cost: The “Golf Cart or Colorado” Lesson
Jim shares a real story that captures this idea perfectly.
After a family trip to Telluride, his kids wanted to buy a fancy golf cart. Instead of saying, “We can’t afford it,” he asked, “Would you rather have a golf cart or another family vacation next year?”
That question sparked reflection — and the kids unanimously chose the vacation.
It wasn’t about the money; it was about what mattered most. In that moment, Jim taught his children how to weigh options, think long-term, and align spending with values — all before elementary school.
🧠 “We Don’t Have Money for That” vs. “We’re Choosing Differently”
Jim and Cade both push back against the common phrase, “We can’t afford that.”
Instead, they recommend reframing it:
“We don’t have money for that right now because we’re choosing to spend differently.”
This small shift teaches children that money is a tool — not a source of fear or limitation. It helps them see that financial decisions are about intentional choices, not scarcity.
Cade connects this same principle to time: teaching his two-year-old to prioritize one activity before bed is an early exercise in understanding opportunity cost — even before kids grasp the concept of money.
🏠 Modeling Values through Everyday Decisions
As the conversation deepens, Jim and Cade emphasize that how parents use money speaks louder than lectures.
Jim shares how he and Kendra make intentional spending decisions that align with their family’s priorities — like investing in healthy food over luxury cars or trendy gadgets.
He also tells a story from Kendra’s childhood, when her parents built a modest home so that everyone — regardless of background — felt welcome. It’s a reminder that kids learn generosity, humility, and stewardship by watching how their parents live.
💬 Should Kids Get an Allowance?
Jim and Cade explore the timeless parenting debate: should you give your kids an allowance?
Both agree there’s value in earning, not just receiving. Cade never got a regular allowance — he earned his money through lemonade stands, garage sales, and small ventures. It taught him the connection between effort and reward.
Jim’s family uses a mix of both: his kids are expected to help with regular chores because they’re part of the family, but he occasionally pays them for extra work that goes beyond their normal responsibilities. It’s about balance — teaching that contribution matters, but entitlement doesn’t.
🧱 Building Work Ethic and Perspective
As the boys get older, the topic of real jobs comes up. Jim started working early; Kendra’s parents treated her studies as her job since she was excelling in school. Cade reflects on his own experience treating golf as a full-time commitment — and later realizing the value of experiencing the “real world” side of work.
Together, they land on a key truth:
Work isn’t just about money — it’s about character.
Consistency, humility, and effort build far more value than a paycheck alone.
👨👩👧👦 Talking About Money with Adult Children
The second half of the episode moves into later stages of life.
Should parents talk openly about inheritance, financial legacy, or aging?
Jim says yes — absolutely. Avoiding these conversations leads to confusion and division.
Instead of secrecy, transparency fosters unity. Whether it’s discussing estate plans or sentimental heirlooms, the goal is the same: maintain open communication so your family doesn’t have to guess your intentions later.
One creative idea shared in the episode: a “Monopoly money auction” where family members bid on meaningful heirlooms. It keeps things fun, fair, and full of stories rather than conflict.
💬 The Hard but Necessary Conversations
Jim and Cade don’t shy away from the tougher side of family finance either — aging parents who may need help, shifting roles between generations, and how to ask for (or offer) support with grace.
The message?
Love, honesty, and humility make even the hardest financial talks easier.
If parents model transparency, gratitude, and service, kids grow up confident enough to do the same for their own families one day.
🪙 Final Thoughts: It’s About More Than Money
Money is just the surface — the real lesson is in how we think, decide, and value.
When parents invite their children into thoughtful money conversations, they aren’t just shaping budgets — they’re shaping hearts, minds, and futures.
🧭 Key Takeaways:
Start talking about money early — even through play or simple choices.
Replace “we can’t afford it” with “we’re choosing to spend differently.”
Model values by showing how your spending aligns with your priorities.
Keep financial discussions open into adulthood, including inheritance and legacy.
Communication and consistency matter more than perfection.
🎧 Listen & Subscribe:
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