Raising Entrepreneurial Girls


7 practical tips to help your girl become a savvy spender and saver.

Financially confident kids grow up to be financially confident adults. That’s why it’s never too soon to share some “cents and sensibility” with your girl. Being money-smart at an early age has a lot of benefits, too. It hones math skills, introduces the idea of delayed gratification, and reminds kids that money doesn’t grow on trees. So, every time you share financial lessons with your girl, the more financially empowered she becomes.

Ready to start having cash conversations with your girl? We have some tips that can help!

1. Let her buy something for herself.
Allow your girl to pay for a small-ticket item with money you give her. She can earn the money in exchange for a household chore or use her allowance. Let her keep the change after her purchase and use this experience to introduce the ideas of spending and saving.

2. Use kid-friendly financial terms.
Arm your girl with easy-to-remember money definitions. Explain what a bank is and what it does, and define savings, investments, debt, credit, interest, and the like as simple as possible. For example, credit can be described as “purchase an item now but pay it back later,” while interest can be “the additional money you have to pay when you don’t pay bills on time.”

3. Open a bank account for her.
Besides her at-home piggy bank, your girl can keep her money safe in the bank. A bank account also serves as a valuable tool for increasing awareness about saving, independence, and financial responsibility. Banking options available for minors vary by state, so choose the best one you can manage for your girl until she turns 18.

4. Involve her in your family budget planning.
Planning a vacation, buying a new car, or saving up for emergencies? Get her involved. Discuss where weekly or monthly funds come from and how much has to be set aside to meet shared goals. If your girl is too young to participate, just start to get her comfortable discussing wants vs. needs and budget vs. expenses.

5. Phrase it positively.
Whenever your girl hears, “That’s too expensive!” she may grow up to believe that everything’s out of reach. Instead, encourage her to come up with thoughtful ways she can afford her wish list. She can either launch money-generating opportunities or create a conscious spending plan.

6. Take joy in the simple things.
The best things in life are free! Share with your girl that money cannot buy everything and demonstrate to her how to prioritize time spent with loved ones and how to get into the spirit of giving. Help your girl understand that small acts of kindness, especially toward the less privileged, are worth more than material things.

7. Encourage her to start planning her future today. Have your girl tap into the power of foresight and imagine a bright financial future for herself. And make sure she’s not afraid taking risks and that’s she’s open to making the inevitable mistakes along the way. She can also strengthen her good money habits through side hustles and part-time jobs, which provide life lessons and skills that she’ll use throughout her lifetime.

Teaching your girl how to handle money responsibly takes time and practice. So our list of tips on raising financially confident kids is not intended to be exhaustive. Do what works best for you and your girl. If saving, investing, and giving back have yet to become second nature for your girl, that’s OK. She’ll get there with your support, patience, and guidance. Remember, kids learn things in life by observing others. So keep leading by example. It’s also a meaningful way to develop a tighter bond with your girl.

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