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Money conversations with your 3-5 year olds!


In the olden days, saying that we are very well off was considered to be indecent and hence we would remember our grandmothers and grandfathers never bring out the topic of money in front of us. In fact, I remember, my maternal as well as paternal grandparents asking  me to be thankful and grateful for whatever we had. Moving on to the parents or 20th-century parenting techniques, parents always suggested their kids that studying or getting good grades was the right way to get rich. I was really blessed to have both my parents work in a government bank so conversations around money always centred around “Getting a good government job” and you will be sorted for life. Somehow I never understood that and always thought Business was the correct way to get rich, But…were these the right money conversations which we were having and what should ideally be the conversations that we should be having with our kids? Is telling them that we are poor a good way or should they be allowed to indulge? The answer lies with each parent.

Mommy, how much money do we have? 

Hah! now when your preschooler (3-5year old) asks you this question, most mums would just want to disappear but answer this question intelligently and you will have a sorted kiddo for at least some time!

How I answered this question is by saying that we have all the money in the world to get whatever you like baby, it’s just that you should be a good girl and do all the right things.

Daddy are we rich?

Even if you are not a dad and reading this, this is a clue that you could then be able to tell this to your hubby!

Dads generally tend to take everything very lightly and not dwell on the seriousness of the topic so the best way to ask your babies dad to answer this question by asking a question back.

So when S(Rennys Dad) got asked this question he answered by asking “What is rich baby?” We then saw a very confused Renny thinking and asking her daddy “Ahhh…like Barbie rich.” (Barbie is a series about these Barbie dolls on Netflix) So we again replied her by saying that “Barbies are just dolls and that’s a cartoon so they can just create anything with their imagination but in real life rich means having a good life. And are we having a good life? Are we happy?” Renny replied yes and I think we made her happy.

Other good ways not to take the money conversation haywire is to Always relate the good stuff back to money and never the bad stuff! 

So good behaviour, gratitude, caring nature, love, family values are some things that you can inculcate while answering about money like “You are such a great kid and that is what makes us all rich!” 

On the other hand saying things like “We are poor and We don’t have money or we cannot afford it” should be avoided at all costs

Other ways to teach kids the importance of money could be….

  1. Asking them to help you out grocery shopping
  2. Planning a shopping budget for them
  3. Planning for a big goal in their life
  4. Planning a vacation and involving them with basic aspects

I am sure mommies you all have some great and distinct ways of parenting and thus must have dealt with these issues in an awesome manner.If you would like to add anything more to this topic please feel free to comment.

Lots of love,

Keep on rocking mommies


SuperMOM Mitali