Back-to-School, Back-to-Basics: Teaching Kids About Money
by Anoushka Mirchandani, Founder & CEO
This was my first back-to-school season as a parent. And wow, it hit me harder than I expected.
It was not just pencils and notebooks. It was sports sign-ups, activity fees, new clothes, and all the little extras that sneak up fast.
I had one of those “how did this add up so quickly?” moments staring at my credit card statement.
But instead of stressing quietly, I decided this was a good time to start talking to my kids about money.
Not in big, heavy lectures. Just in small, everyday ways that help them connect the dots.
Here are a few things I am learning to do as I go:
1. Give Them a Budget They Can See
When we went school shopping, I didn’t just say “pick something.”
I gave them a number: “Here’s how much we have for backpacks, you get to choose.”
My kids are 5 and 4, so the math isn’t there yet, but they understood the bigger lesson.
Money is not endless. Choices matter.
To make it easier, I showed them four backpacks that fit in the budget and had them choose from those four.
It gave them freedom within limits, which is exactly what budgeting really is.
2. Teach Trade-Offs in Real Time
When my kids wanted two folders and two notebooks each, I didn’t just say no.
Instead, I explained that we had to make a choice.
If they picked both now, we wouldn’t have enough left for other things they might want later.
If they picked one, they could save and get the other another time.
That’s what trade-offs are. Choosing one thing usually means giving something else up.
Even at 4 and 5, kids can start to understand that money isn’t about getting everything at once. It’s about learning how to prioritize.
3. Connect Spending to Something They Care About
When my kids asked for a snack at checkout, I didn’t just say no.
I explained, “We’re saving for ice cream on Saturday.”
Suddenly, “not now” turned into “something better later.”
That is how saving starts to click for kids.
It’s not about taking away. It’s about showing them that waiting can lead to something they care about even more.
4. Let Them See Wins
When we stayed within our budget, I made sure to celebrate with them:
“Because you made those choices, now we have enough left for pizza night.”
Linking their decisions to something fun helped money feel like empowerment instead of restriction.
They saw that being mindful didn’t just mean saying no. It also created room for yes.
5. Keep It Simple and Repeat
The truth is, they won’t get it all at once. But the repetition matters.
Every time they see that money has limits, trade-offs, and rewards, they are building a foundation.
Just like brushing teeth, it sticks because it’s part of daily life.
Back-to-school came with its surprises, but it also gave me the chance to start money conversations earlier than I thought I would.
The lessons are small now, but I know they will grow with my kids.
Because at the end of the day, teaching them about money is not about the perfect budget or fancy math.
It’s about giving them the confidence to make choices, understand trade-offs, and connect spending to what matters most.
If you want tools that make these lessons easier for you (and more fun for your kids down the line), join the SIMMER waitlist.
We’re building a way to help every family learn money in real life, together.
