By Andre Shammas
As a tax preparer and accountant in El Cajon, California, I talk to adults every day who feel overwhelmed by money—how to budget it, how to save it, and especially how to understand their taxes. What’s even more common is hearing them say, “I wish someone taught me this when I was younger.”
And that’s exactly the point.
Teaching kids about money doesn’t have to be complicated, awkward, or boring. In fact, some of the best lessons about taxes, budgeting, and smart spending can happen right around the dinner table.
If you’re a parent, grandparent, or even a cool uncle or aunt, here’s how you can introduce financial conversations in a way that actually sticks—with zero lectures required.
Start With the Basics—In Their World
When kids are young, money is a mystery. They see you swipe a card, tap your phone, or click a button, and poof—stuff arrives. So the first lesson is about value.
Try explaining what things cost in terms they understand. For example:
- “This pizza cost $20. That’s the same as four weeks of your allowance.”
- “A family trip to the movies costs us as much as groceries for a day.”
Use simple comparisons. If they’re saving for something, help them calculate how many weeks it will take to buy it. That math is more memorable than anything they’ll learn in a textbook.
Use Real-Life Moments to Teach
You don’t need a curriculum to teach money smarts. Just use what’s already happening.
At the grocery store: Give them a small budget—maybe $5 or $10—and let them choose one or two items. They’ll learn about price, quantity, and staying within limits.
During tax season: Show them your W-2 or explain that adults don’t get to keep everything they earn. Tell them, “When I earn $100, I don’t bring home $100. Part of that goes to taxes—money that helps pay for schools, roads, and firefighters.”
When paying bills: Let older kids help review a water bill or an electricity statement. Ask them why one month might be higher or lower than another.
These aren’t “boring” lessons—they’re just real life.
Make Saving a Habit Early
One of the best lessons I learned growing up was the value of saving before spending. When kids get money—whether it’s from chores, a birthday, or a part-time job—teach them to split it:
- Spend some
- Save some
- Give some
You can even use labeled jars or envelopes. This creates a visual reminder of where their money is going.
I tell my clients this all the time: Saving is a habit, not a skill. The earlier you build it, the stronger it becomes.
Talk Taxes in Simple Terms
Taxes don’t have to be a scary or confusing topic for kids. If they’re old enough to earn money (like babysitting or mowing lawns), explain how taxes work:
- If they make over a certain amount, they may need to file a return.
- Some money goes to federal and state programs.
- Even if they get a refund, they need to understand where that money came from.
If your teen has a part-time job, sit down with them during tax time. Show them how to read a W-2, what withholding means, and how to file a simple return.
In our office at Shammas Bureau, I’ve seen how empowering this can be. One client’s teenage daughter filed her first tax return and was so proud she understood something most of her friends didn’t. That confidence? It sticks.
Play Games That Teach
Games are a great way to make money topics fun. A few ideas:
- Monopoly teaches property, rent, and risk.
- The Game of Life shows how education, jobs, and family choices impact finances.
- Online apps like PiggyBot or Bankaroo make it easy for kids to track virtual allowances.
Even made-up games can work. Challenge your kids to find the cheapest item on the grocery list. Have a savings contest. Let them “run the budget” for a family movie night.
Make it fun, and they’ll keep learning without even realizing it.
Be Honest About Mistakes
No one is perfect with money—not even accountants. I always remind parents to share their own financial missteps when appropriate. Whether it was overspending in college, forgetting to file taxes one year, or learning to budget late in life, these stories are valuable.
Kids respect honesty. It shows them that learning about money is a lifelong process—and that it’s okay to ask questions.
Model What You Teach
Kids don’t always listen to what we say—but they do watch what we do.
If you want your kids to value saving, talk openly about your own savings goals. If you want them to understand budgeting, show them how you plan monthly expenses. If you want them to avoid debt, explain why you wait to buy things until you can afford them.
Andre Shammas is a tax preparer—but I’m also a father. I know that the most powerful money lesson I can teach my kids is how I handle my own.
Keep It Casual, Keep It Consistent
Talking to kids about money isn’t a one-time thing. It’s an ongoing conversation, built from everyday choices and small teaching moments.
You don’t need to be a finance expert. You just need to be willing to talk about money openly, simply, and with curiosity.
Start the conversation early. Keep it light. And remember—when your kids understand money, you’re not just helping their future—you’re improving yours too.
Because one day, they’ll be the ones teaching their kids at the dinner table. And thanks to you, they’ll know exactly where to start.