As a Financial Adviser, What I’m Teaching My Kids About Money, Investing, and Legacy
As a father of three young boys, one of my biggest responsibilities isn’t just providing for them financially, it’s teaching them how money works, what wealth really means, and how to build a healthy relationship with it from a young age.
Whether we realise it or not, our kids are learning from us every single day.
They’re watching how we speak about money.
How we react to bills.
How we spend.
How we save.
How we give.
How we handle stress.
Even when we think they’re not listening, they are.
One of my favourite quotes is by Bruce Lee:
“The goal isn’t to give your kids what you didn’t have. The goal is to teach them what you didn’t know.”
Research shows that many core money habits and attitudes are formed by the age of 7.
Long before children understand concepts like investing, superannuation, or budgeting, they are observing how money is talked about, how financial decisions are made, and the emotions attached to money within the household.
That means the conversations, behaviours, and examples we model in the early years can have a lasting impact on how our children think and feel about money as they grow up.
That’s why I believe financial literacy shouldn’t start in high school.
It should start at home through everyday conversations and experiences that help our children understand the value of money and making intentional choices.
The goal isn't to create financial experts, but to build healthy money habits and confidence that can positively influence their financial decisions later in life.
Making Money Fun
One misconception parents have is assuming their children are “too young” to understand money.
Children understand stories, games, emotions, and patterns long before they understand numbers.
So the key is making financial lessons age-appropriate and relatable to their world.
When my oldest son was 3, I started teaching him the difference between assets and liabilities through a simple matching game.
One side had the words ‘Asset and Liability.’
The other side had images of a home, shares, rental property, and a car.
The game was simple: Match the asset, Match the liability.
Which we told him:
Assets put money into your pocket.
Liabilities take money out of your pocket.
Not through lectures. Through repetition, play, fun and conversation.
That’s how children learn best.
What surprised me most was how quickly he grasped the concept and started recognising examples in everyday life, proving that children are often capable of understanding far more than we give them credit for.
As he got older, we evolved the conversations from simply identifying assets and liabilities to discussing how assets can generate income, why people invest, and how money can be used to create more opportunities in the future.
Money Needs To Be Visible
A lot of us grew up in households where money was hidden.
Parents didn’t talk about it, and kids weren’t included in discussions.
Bank accounts, bills, investing, debt, all of it felt secretive.
But I believe secrecy creates fear and confusion around money.
I want my boys to understand that money is a tool.
Something to learn about, not avoid.
So I involve them.
I show them our bills, and explain why we pay them.
I show them our accounts.
I explain investing in simple, age-appropriate language.
I encourage questions.
One funny example was when one of my sons was shocked to discover that we have to pay for water after seeing our water bill.
It became a great teaching moment.
We talked about how the longer we stay in the shower, the more water we use and the higher the bill becomes.
The same applies to washing our hands, doing the dishes, and many of the everyday activities we often take for granted.
These simple conversations help connect money to real life, making financial concepts more tangible and easier for your children to understand.
Because legacy isn’t just leaving wealth behind.
It’s leaving behind knowledge.
Capability. Confidence. Stewardship.
I want my children to understand that our family's wealth comes with both opportunity and responsibility.
My goal isn't for them to simply inherit wealth one day.
It's for them to understand how it was created, how it is managed, and what it takes to grow it over time.
To appreciate wealth and continue building it, they need to learn how to manage money, make good decisions, and create wealth for themselves.
Make Money Lessons Real
Children learn best when lessons connect to something they already understand and can experience firsthand.
One simple game I’ve played with my boys to explain tax involves food.
Before they eat, I’ll jokingly take away a portion of their food and ask:
“How does that make you feel?”
Suddenly, taxes become real.
Not political. Not theoretical. Real.
It creates conversation and builds awareness.
It sparks curiosity, creates conversation, and helps them understand that when we earn money, a portion goes towards funding the services and infrastructure we all use.
The same principle applies to investing.
I explain investing to my boys like planting seeds.
You don’t plant a seed and dig it up the next day, asking where the tree is.
You water it.
You nurture it.
You give it time.
You stay patient.
That’s investing.
Small, consistent actions repeated over time can produce remarkable results, but only if you're patient enough to let them grow.
In a world increasingly driven by instant gratification, teaching children the value of patience, delayed gratification, and long-term thinking may be one of the most important financial lessons we can give them.
These qualities don't just help build wealth.
They help build resilience, discipline, and better decision-making in all areas of life.
Your Kids Will Copy Your Relationship With Money
This is the part most parents underestimate.
Your children won’t just learn from what you teach them.
They’ll learn from who you are around money.
If money always feels stressful, chaotic, or avoided, they absorb that.
If money is used to impress others or keep up appearances, they absorb that too.
If money conversations are filled with fear, shame, or arguments, children often internalise those emotions and carry them into adulthood.
But the opposite is also true.
If they see planning…
Patience…
Discipline…
Generosity…
Intentional decision-making…
And open, healthy conversations about money...
They learn those behaviours as well.
That's why one of the best things you can do for your children financially is to work on your own relationship with money first.
Many parents focus on what they should teach their kids, but often the bigger opportunity is improving their own financial habits, knowledge, and behaviours.
Just like the safety briefing on an aeroplane tells you to put your own oxygen mask on first.
Becoming financially literate yourself puts you in a far better position to guide your children.
Financial literacy isn't just teaching kids how to save, invest, and make money.
It's teaching them how to think about money.
And more often than not, they'll learn that not from what you say, but from what they see.
Final Thoughts
The goal isn't to raise children who depend on your wealth.
It's to raise children who know how to create, manage, and grow it.
Kids who understand the value of money.
Kids who can delay gratification.
Who understand the fundamentals of investing and wealth creation.
Who are comfortable having conversations about money rather than avoiding them.
And who know how to build financial security without losing sight of their values, relationships, health, and wellbeing.
Because our children won’t just inherit what we leave behind financially.
They’ll inherit something far more influential.
Our habits.
Our beliefs.
Our emotional patterns around money.
And the way we behave with it.
So every parent is left with a simple but important question:
What is my child learning about money simply by watching me?
Because whether we realise it or not, the lessons have already begun.
And in many cases, those lessons will shape their financial future far more than anything they're taught in a classroom.
What areas of your finances need attention?
Take our free 2-minute Wealth Scorecard that will help you better understand your financial situation and determine what areas of your finances require attention.
About the Author
John Cachia is a seasoned financial adviser and dedicated parent of three boys. With a passion for financial literacy and wealth management, John has been in the industry since the young age of 14. His early start in finance has provided him with a wealth of experience and insight, which he now uses to guide families towards achieving their financial goals. As Australia's leading wealth adviser for young families, John is committed to helping parents become positive financial role models for their children, ensuring a secure and prosperous future for the next generation.
General Advice Only: Any advice in this article is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information. The information on this page reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. We do not give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document. This advice is, or may be, based on incomplete or inaccurate information relating to your relevant personal circumstances. We have not been able to undertake a needs analysis for you to the preferred extent because you have chosen not to provide all of the personal information requested. This lack of complete personal information limits our ability to provide recommendations that are entirely appropriate to your overall objectives, financial situation or individual needs. Because of this, before acting on this advice, you should consider the appropriateness of the advice, having regard to your overall personal circumstances.