Money lessons to teach your children at every age

Financial literacy is a commonly overlooked life skill, though it plays a crucial role in shaping children’s future decisions from their first car to planning for retirement. An RMIT expert shares age‑appropriate concepts and practical ways parents and carers can build money skills from childhood through to early adulthood.

Professor Angel Zhong, School of Economics, Finance and Marketing

"Financial literacy is one of the most important skills children can learn, yet it is often overlooked.

"For primary school children, simple tools like pocket money and clear jars can make money tangible, teaching valuable techniques like saving, spending, and delayed gratification. Small mistakes, like burning through their allowance too fast, help build better financial judgement early.

"Secondary school kids benefit from real‑world money experience: opening bank accounts, understanding interest, tracking spending, and learning the difference between debit and credit. Conversations about needs versus wants become more meaningful as teens start earning their own income.

"For young adults stepping into work, early awareness of superannuation and compound growth can shape long‑term financial security. Even small contributions at 18 can grow significantly over a lifetime.

"The message is clear: financial education isn’t just about money - it strengthens decision‑making, responsibility, and confidence."

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Money lessons to teach your children at every age