Every child needs
Teaching your kids about money has to be part of your parenting to-do list.
Great news: you can do this even if you weren't taught about money. Even if you still feel underprepared with financial decisions.
Money School started in 2010 to help parents teach their own kids, and we're proud to continue doing that today.
What kids need to learn first
There are three underlying principles kids should understand long before they need to be able to work out which ETF they want to buy:
1. Reduce waste
We spend a large part of our lives exchanging precious hours for a wage. We need to make the most of what we earn by not wasting it.
2. Find your 'enough'
Endless consumerism is a feature of the modern online world, not a bug. We need to know what 'enough' looks like and manage our money accordingly.
3. Choose for Future You
Every choice we make means giving something up. In economics, this is known as opportunity cost. Make choices with Future You in mind.
"Like money in general, there are very few absolute rules when it comes to teaching your children about money. Personal values and morals matter in financial decisions, and every family is different. You know your child and your family best. You are in the best position to decide how they'll learn effectively."
Lacey Filipich, Founder and Author of Money School
How Money School can help
Whether you want to teach your kids with our resources or they prefer to learn directly from us, here's some resources to help:
Raising Financially Savvy Kids Course, A$47
Get activities to do with your children at home to help them learn to save, buy assets and understand basic economic principles.
Listen: Podcasts
Lacey speaks about financial education for kids at home and in school regularly on radio and podcasts.
Read: Articles
Check out our articles for outlets like ABC and Kidspot, along with our in-house blogs.
Maker Kids Course, A$55
Aimed at 10-12 year olds, Maker Kids helps young people start their own businesses so they can learn about money first-hand.
Buy Now Pay Later Course, A$7
Aimed at tweens, teens and young adults, this course explains how Buy Now Pay Later (BNPL) works, and how to use it wisely if you must.
Get the book
Reviews of Money School's international award-winning book often say 'this should be compulsory high school reading!' Note: does contain the S word.
Podcasts Appearances
On financial education for children, at home and at school
The Growth Concept
How to Protect Your Wealth in an Uncertain Future: Climate Change, Property & Investing
Length (mins):
59
It's Not About The Money (Australia) Podcast
S2E5: It's About The Messages We Give Kids
Length (mins):
54
Start Well
Money School - Lacey Filipich
Length (mins):
57
Banking On Girls
12: How Lacey Filipich successfully retired at 31, and how she’s teaching kids to have the same opportunity
Length (mins):
23
Articles
On financial education for children, at home and at school
Nine Honey
Money Manners: 'Should we give my teenager money when she doesn't work much?'
Nine Honey
Money Manners: 'Should I be charging my older children board or rent?'
Nine Honey
Money Manners: 'My older children still expect me to pay for everything'
Money School
What might personal finance look like in a climate change affected Australia?