Like I’ve said before, I’m an expert at parenting.

LOLOLOLOL.

Never gets old. #momjoke

Mostly I’m just trying to:

• load my kids up with veggies

• get them a good night’s sleep

• lean on my husband for everything else (thanks, Kyle!!!!!! 😘)

Our kids are 6 and 8 years old, so while they’re not yet using AI agents to start their own companies, we are intentionally introducing some financial and entrepreneurial concepts.

I’ll update this post in 20 years to let you know how we did. 😆

Here are the 5 money lessons we’re teaching our kids, based on what I’ve heard talking to founders, experienced in my own life, and learned from people smarter than me!

5 Money Lessons I’m Teaching My Kids

1. Talk about money

The first rule about money is…talk about money!

(Opposite of Fight Club 😉)

Financial literacy starts starts by making it okay and normal to talk about money!

Treat money like a:

• tool

• resource

• topic for learning

Money is NOT:

• taboo

• secret

• only for adults or rich people

I will forever be on my soapbox for founders to lead with money when talking to VCs and for women to be encouraged to talk openly about money (salaries, negotiations, strategies, deal terms).

I think it’s true for kids too.

Some parents want to “protect” kids from the stress of money.

I totally understand that but I’ve also seen it backfire when those kids get into debt or make poor financial choices because of lack of knowledge.

When you discuss money (in an age-appropriate way), you prepare and empower kids!

2. Save 50%

When our kids started getting Tooth Fairy and birthday money, a big question came up:

How much do you need to save vs. spend?

We held a family meeting to discuss.

We talked about why saving was important:

• Saving gives you options.

• Decreases stress when emergencies happen.

• Enables job flexibility.

• Lets you do things like travel and start companies. 😉

Our kids suggested 50% savings rate. Boom! Done.

Now, with any “income,” we transfer half into their bank account and show them on our phone.

The rest is available for them to spend on what they want.

Pokemon cards, golf tees, and activity books of course.

One of the saddest conversations I have is when someone would love to start a company, but their lifestyle is too expensive to make a change.

I’ve known other founders who have given themselves second and third startup lives because their living expenses were low and savings robust.

Of course, you can’t always do this. Maybe you have dependents or you’re paying off student loans.

But keeping lifestyle inflation in check will always serve you.

Save lots and live within your means to give yourself maximum flexibility as a founder and beyond!

3. Want more money? Start a business.

Occasionally our kids will want to buy something more expensive or generally “want more money.”

We say: “Great! Let’s talk about how to start a business.”

• Ask neighbors about their problems.

• Things like:

  • Taking out the trash

  • Picking up dog 💩

  • Yard work

So far, the desire for “more money” has quickly faded when our kids hear they need to talk to an adult. 😂

We have had some successful forays into online selling:

• Our kids cleaned the old double stroller and got a % of the online sale.

• One child sold toys on Facebook Marketplace to learn about value arbitrage and the circular economy! (That’s what he learned, right? I keep telling myself that. 😉)

I’ve seen the “flyers” made by great founders when they were kids. Hustling from an early age!

4. Work is not only about money.

Possibly controversial. We don’t pay for chores.

(Here’s our chore system.)

Everyone must pitch in. It’s part of being a family and running a household. It takes work and everyone contributes.

We do this for several reasons:

• Parental sanity. Kids can do more than you think and it helps the daily grind when kids do chores! The reminders and debates are annoying. But I like that I’m not doing all the work solo. I’d rather nag them now than later.

• Independence and overall life satisfaction. Research shows that doing chores is great for kids’ confidence, resilience, making friends, being healthier, academic performance, and just about everything. So yeah. We’re doing chores.

• Learn the joy of a job well done. While great founders love to make money, they also have a great work ethic. Most success comes from giving first, doing the right things, and putting in work without knowing the specific payoff.

• Be part of a team and understand collaboration. Every now and then, our kids will get fired up and actually help each other with chores. And even when they’re complaining or bickering (aka most of the time), they are still gonna learn teamwork dammit!

5. Ask for what you want (and how you ask matters!)

Not a money lesson per se, but very related.

The best founders and most successful people ask for what they want.

If you don’t ask, the answer is always no.

^^one of my favorite blogs of all time. Adam Blitzer shared it with me in the early days of Pardot and it stuck with me 15 years later!

Most things are possible — but you have to ask and you need to ask in a way that make people want to help you.

“THAT’S NO FAIR, I WANT A COOKIE!” is usually not as effective as, “That cookie looks delicious. Would I be able to have one please?”

And you’d be surprised at how many adults still use, “That’s not fair” as a way to ask for something. 😆

Kid Examples:

• Our kids order their own food at restaurants

• They call their grandparents to ask questions (e.g. can I borrow this book?)

• They need to ask when they want to join a playground game, get free sprinkles, or anything else!

How do you get invited to a key event, solicit a customer testimonial, meet the CEO, and generally do things that grow your company and build wealth?

You need to ask.

And how do you get repeat invites, testimonials, and intros?

You need to be really appreciative and grateful so people help you again!

What’s your best money advice? What are you teaching kids about money? If you have adult kids, what worked and what would you do differently? I’d love to hear!