Let’s be honest—having wealth can make life a lot more enjoyable. But the best parts aren’t flashy cars or extravagant vacations. True wealth brings something deeper: peace of mind, the freedom to choose how you spend your time, and the thrilling realization each morning that you’re in control of your day. That’s a feeling I want to pass on to my son.
As a parent, my ultimate goal is to help my child grow into a happy, capable adult. And part of that means teaching him about money—not just how to make it, but how to master it. Because in today’s world, much of the advice handed down to children, even with good intentions, can lead to financial traps instead of freedom.
Many families, regardless of income, fall into the same pattern: financing new cars in the name of safety, paying for wildly expensive education without considering career prospects, or stretching themselves thin to keep up appearances in high-income communities. The problem isn’t just with the advice—it’s that these ideas often come from a place of fear or misunderstanding, not empowerment.
I recently read The Opposite of Spoiled by Ron Lieber, a thoughtful book that explores how parents can raise kids with healthy attitudes toward money. But it also made me realize just how complicated we’ve made things. When I was a kid growing up in a small town in the 1980s, financial lessons were simpler—and often more effective. There was no pressure to keep up with neighbors or host elaborate toddler parties. Instead, we learned that money came from work, and if you didn’t waste it, you could build a good life.
That’s the mindset I’m trying to pass on to my son today.
Making Money Make Sense
In our household, money isn’t a taboo topic. My 9-year-old knows where money comes from, how spending it means it’s gone, and how investing it can make it grow. He understands that financial independence—owning assets that generate income—means you don’t have to spend your life commuting to a job you don’t enjoy. That concept is built into our everyday routine.
For example, we keep a running spreadsheet—his version of a bank account. He deposits money with me, withdraws it when he wants to spend, and earns 10% annual interest, compounded monthly, on his balance. It’s a simple yet powerful lesson: the longer he saves, the more his money works for him. At this point, his account earns about $5 a month—tangible proof that patience pays.
He earns money from relatives and gets paid a dime for every mile he bikes or walks. Since we’re mostly car-free, those miles add up fast. He’s already logged over 1,200 miles on his little bike. Over time, I expect him to find his own income sources, whether through part-time jobs or entrepreneurial ventures.
Education Beyond School
Some parents treat school as the only “job” a kid should have. I see education as a broader experience. Jobs—even ones as humble as stocking shelves—teach responsibility, communication, and the value of hard work. My own formative memories came from jobs in high school, not from class lectures. I want my son to gain that kind of experience too.
Spending with Purpose
Despite having control over his money, my son doesn’t spend recklessly. His main interests—video games, books, NERF blasters, and a few apps—are where most of his money goes. But even then, he often weighs the value of what he buys. Occasionally, he surprises me with remarkable generosity, offering to pay for things other kids can’t afford or to help when something breaks at home. That generosity tells me he understands money isn’t just for himself.
As parents, we still provide the basics. I helped him build his own computer, and we share educational tools, books, and experiences as part of being a family. Organized activities are covered too—though like me, he prefers free-form adventures with friends over scheduled classes.
Leading by Example
One of the most powerful lessons comes from how we live. Our family’s annual spending is modest—about $25,000—despite having enough savings and assets to spend much more. That’s intentional. We live well below our means because we see no reason to increase spending just because we can.
When your own needs are limited, any surplus becomes a chance to give. Our version of the “giving pledge” is informal but real. There won’t be a massive inheritance, because each generation should learn how to create their own abundance. What we give instead is knowledge and freedom.
Pushing Kids? Or Preparing Them?
In high-income communities, stress runs high among kids pressured to excel in elite schools and top-tier careers. But if money can’t buy happiness, why are so many wealthy kids miserable?
Too often, parents confuse preparation with pressure. They want their kids to be “competitive,” thinking it’s the only path to success. But I believe life isn’t a competition. It’s a collaboration. The world rewards those who contribute, create, and cooperate—not just those who hustle the hardest.
We’ve been taught that success means constant striving. But if you already have enough, why chase more? I want my son to feel empowered, not afraid. To rise into his own niche, not squeeze into someone else’s definition of success.
What I Truly Want Him to Learn
At the core of everything I teach him is this: you control money—it doesn’t control you.
Here are the principles I’m passing on:
- Income is self-generated. It’s not rationed by employers or handed down. It’s earned by learning, working, and creating value.
- Spending is a choice. Terms like “expenses” or “cost of living” suggest helplessness. Call it “your spending” and own it. You can always choose differently.
- Money is not the goal. It’s a tool. Once you’ve mastered it, you can move on to life’s real rewards—personal growth, connection, purpose.
This journey is ongoing. I don’t have all the answers, but I’m doing my best to build a solid foundation. If my son learns to view money as a tool for freedom, generosity, and purpose—then I’ll know I’ve succeeded.
That’s the real legacy I hope to leave behind.
