While talking about money can feel taboo or awkward, it can be one of the most important conversations a family can have. And what's a better place to have it than at the dinner table? That's where real, everyday conversations happen, making it the perfect setting to start discussing finances.

Just as we normalize talking about our day or the weather, the same can be done for money. By incorporating financial topics into daily chats, you can break the stigma and raise a more financially savvy family. Intentionally incorporating finances into dinner conversation can strengthen trust, improve financial literacy, align family goals and reduce future surprises.
 

Build financial literacy through daily conversation.

Having a regular conversation around finances helps demystify the topic. Consistently discussing money loosens the taboo and makes financial concepts easier to grasp.

Addressing finances at the dinner table can be a great way to bring up and understand core financial concepts such as saving and spending. Start small by having each family member share their own thoughts in a casual setting. Everyone can learn where each person stands and fill in potential knowledge gaps. The number of financial skills and knowledge will only grow over time.
 

Decrease financial anxiety through an inclusive environment.

Having an open forum about the highs and lows of finances reduces fear around them. The dinner table setting provides a safe space to ask for help and advice as children get older. It's also a place where discussing finances can feel less stressful.

As you start the conversation, encourage family members to share any fears they have about money. This transparency can be a good way to ease into it and remove any anxiety around handling or discussing finances.
 

Tie finances to everyday life.

The dinner table can be an excellent time to highlight the link between financial wellness and daily household activities. While already sharing conversations about the day, consider how a financial element might come into play.

Having a general awareness of what it takes to earn money and where money goes helps children understand the value of a dollar. If they can see a visual example of earning and spending money, like food on the table, it becomes easier to understand why financial discussions are so important.
 

Promote critical thinking around finances.

Having conversations around finances helps children navigate the topic from an early age and develop with the discussion. However, the key is to keep the discussions age appropriate.

When children are young, the conversation might include identifying money and its value. Bonus points if they receive a weekly allowance and can discuss what they plan to do with the money. As children get older, they'll feel more equipped to handle their first paycheck, compare needs versus wants, and ask more complex questions about managing money.

Another way to build critical thinking is to involve children in family financial decisions where appropriate. Everyone may not need to be present for every financial decision, but consider what might be worth a full family conversation.
 

Create financial confidence.

It's important to remember that the goal isn't to create future accountants or make heavy financial decisions. Ultimately, regular financial talk can create an open line of communication and help young people become financially confident adults. Start with one simple money-related question at your next family dinner and see where the conversation leads.

Frequently asked questions

What topics are safe to discuss with kids? What should be avoided?
Consider age-appropriate conversations that might be tied to kids' everyday lives. The goal is to create open conversation without creating stress around money, so it might be smart to avoid more complex budget and expense topics until they're older.

How do you start a money conversation with your family?
Think of simple, easy-to-grasp concepts when you're starting out. Depending on the age of children, this might be money identification or general conversation about how money shapes different aspects of life.

How often should families talk about finances?
The dinner table creates a daily, regular place to talk about finances. However, it doesn't have to be the topic of every dinner. The goal is to create the space to bring it up if needed.

What are the benefits of family money talks?
Family money talks create an open conversation around finances, allowing children to ask questions and get advice.

How can money talks improve financial literacy?
Discussing finances regularly across different situations builds knowledge of money and how it fits into daily life. Regular money talks can also allow children to talk through financial decisions and develop a skillset to handle their own finances when they get older.