Money Lessons Start at Home – What Are Kids Really Learning?
At Make Sense of Pence, our Money Wise Workshops spark some incredible discussions about money, but one of the biggest lessons we’ve learned? Children aren’t just learning about money in the classroom—they’re absorbing it at home.
Like sponges, they pick up conversations, attitudes, and experiences that shape their understanding of finance long before they open a bank account or get their first payslip. And sometimes, the answers they give in our workshops provide a fascinating glimpse into what they’ve been hearing.
Where Does Money Come From? Kids Have Some Ideas…
One of the first questions we ask in every workshop is:
💬 “How do we get money?”
The usual suspects always show up—working, doing chores, receiving gifts—but recently, we’ve been hearing some new and unexpected answers. And we can’t help but wonder: Are these lessons being taught, or are they just being overheard?
Here are some of the most surprising (and thought-provoking) responses we’ve had from students recently:
💰 “If someone dies, they might leave you money.”
Not incorrect—this is inheritance, after all. But hearing it from a 7-year-old makes you pause. Has there been a recent family bereavement? Has money been discussed in that context at home? It’s fascinating to think that, for some children, their understanding of wealth transfer comes from real-life family situations.
🏥 “If you get injured, you can get compensation.”
Again, not wrong—but a financial concept you wouldn’t expect to hear from a 10-year-old. Have they overheard discussions about personal injury claims? Has someone in their family been through a legal process?
🛠️ “If something breaks, the insurance company gives you money.”
A smart and very grown-up answer. This student had clearly grasped the concept of insurance, but it begs the question—has there been a recent claim in the household? Do they now see insurance as a standard way of ‘getting’ money?
📈 “I should have invested in Apple 10 years ago.”
Possibly the most unexpected response of all. An 11-year-old girl confidently stated she was frustrated that she hadn’t invested in Apple a decade ago. A sharp observation, but almost certainly a thought borrowed from a parent, a family member, or a conversation overheard at home.
These examples tell us something important:
📢 Children don’t just learn about money from what we teach them—they learn from what they hear, see, and experience in everyday life.
The Influence of Home on Financial Mindsets
The conversations we have at home shape the financial habits our children develop. Whether it’s stress about bills, excitement over a bonus, or regret over an investment not made, kids are paying attention—even when we don’t realise it.
They’re listening when we:
✅ Argue about money – “We can’t afford that right now.”
✅ Make financial choices – “We’re saving up for a holiday.”
✅ Talk about risk and reward – “If only I had invested in…”
And these snippets of conversation become the foundations of their financial understanding.
That’s why early financial education is so important—because if we don’t take the time to teach children about money in a structured, thoughtful way, they’ll fill in the gaps themselves.
What Can We Do?
👨👩👧👦 Talk about money openly.
Normalise conversations about spending, saving, and earning.
💡 Ask them what they think.
Challenge their assumptions. “What do you think investing means?”
🛍️ Help them make choices.
If they receive pocket money, guide them through a spend vs. save decision.
🏫 Support financial education in schools.
Schools play a huge role, but families reinforce what’s learned.
The key? Make sure they’re hearing the right lessons.