Half of Adults Never Heard Money Talk at Home. Try a Kid Business.

More than you might think, and less well than they hope.

A U.S. Bank survey run by Morning Consult in April 2026 asked 3,004 U.S. adults, including 763 parents or guardians of kids under 18. Roughly half of adults said money was seldom or never a topic in their childhood homes. Yet nearly 9 in 10 parents now say they're comfortable talking about it with their own kids, and about two-thirds have started, or plan to start, teaching basics before their child turns 12.

That's a real shift. Among Baby Boomers, 49% remember money being discussed growing up. Among Gen Z, it's 62%.

So the talking is happening. The question for this week is what to talk about, and how to make it feel like something other than a lecture.

Notice the difference between talking about money and practicing it. A kid who has heard "we can't afford that" a hundred times may still never have chosen between two things with real coins in hand. Practice is where the words turn into habits.

Wanting to talk and knowing how are different things.

A separate Ipsos survey of 1,000 Canadian parents, run for RBCx's Mydoh in May 2026 and reported by BNN Bloomberg, found that 90% of parents talk with their kids about money regularly. But only 9% strongly agree their child is ready to manage money independently when leaving home. And only 46% of parents talk through what went wrong after a child's money mistake. More than 1 in 5 worry that those conversations will stress their child out.

Canada isn't the U.S., so treat the numbers as a signal, not a verdict. Still, the pattern fits what many families feel. We say "money matters." We skip the part where a kid blows $15 on something silly and we sit down and ask what happened.

That skipped part is where learning lives.

Because it hands you something real to talk about.

Allowance conversations can feel abstract. "Save your money" is a slogan. But when your 11-year-old sells friendship bracelets for $3 each, and the beads cost $12, a dozen questions pop up on their own. How many bracelets until you break even? What happens if nobody buys? Should you charge $4?

In the U.S. Bank survey, nearly 9 in 10 parents said their own spending and saving habits are among the strongest influences on their kids' financial understanding, ranking above schools, peers, and social media. A small business lets your kid watch money decisions up close, and lets you model them out loud.

You don't need a big idea. Lemonade, dog walking, handmade cards, washing cars, reselling outgrown toys. Pick something your child can finish in a weekend.

Keep it plain. Three jars, or three columns on a page: spend, save, give.

The BNN Bloomberg piece suggests, for ages 8 to 12, starting a fixed weekly allowance kept separate from chores, then splitting each payment into spending, saving, and giving. Around ages 10 to 12, consider a youth bank account in the child's name so they can see the balance themselves. In the U.S. Bank survey, only about half of parents had opened one. Among those who hadn't, almost a quarter said their child wasn't ready yet, and more than 1 in 10 didn't know where to start.

If you're in the "didn't know where to start" group, relax. Call or visit your bank and ask what youth accounts they offer, what the fees are, and whether the child can see the balance. Ask three questions, and you're done.

For a kid business, add one more jar: reinvest. That's the money that buys more beads, more lemons, or a better sign.

The same BNN Bloomberg piece points to a simple rule for little ones: let them choose between two toys with a limited budget, and don't top up the difference. The disappointment is the lesson. Kids who feel it at six with a $10 toy are less likely to feel it at twenty-six with a $1,000 credit card balance.

This is the moment most families skip, so let's practice it.

Say your daughter sets up a stand on a rainy Saturday and sells two cookies. She's crushed. Here's a three-step debrief that takes about ten minutes:

• Ask: "What happened?" Let her answer first, without fixing.
• Ask: "What would you change?" Maybe a sunnier day, a better spot, a lower price.
• Ask: "What do you want to try next?" Then let her pick.

The BNN article quotes the author calling it the most important habit: discuss your own money mistakes too, briefly and openly. Kids pick up on money stress anyway, so sharing a quick story (the subscription you forgot to cancel, the jacket that sat unworn) teaches that money is something you manage, not something you hide.

Worried about stressing them out? Keep your tone curious, not grim. A mistake with $8 is cheap tuition compared to one with $800 later.

Here's a rough guide drawn from the advice in the BNN Bloomberg pieces, plus common sense.

Ages 3 to 7: Let them hand over coins at the checkout. Offer a choice between two toys with a set budget, and don't top it up. Disappointment is the lesson.

Ages 8 to 12: Weekly allowance, three jars, and a first mini business. Count profit together.

Teens: Walk through a first pay stub. Explain taxes. Help them open an account of their own and take on a small bill, like a phone plan, before anything bigger. One financial planner in a separate BNN story called turning 18 a "light-switch moment where everything is very suddenly your responsibility," which is a good reason not to wait until then.

Kids move at different speeds. If yours isn't ready for a step, wait a few weeks and try again.

A notebook is a fine tool. So is a spreadsheet, a bank app with parental controls, or a children's business planner. If your child gets excited about an idea and wants more structure, Foundra Kids has simple lessons and planning pages for young founders, and local libraries often run free youth entrepreneurship programs too.

Whatever you choose, keep one rule: the kid does the thinking. You ask, they decide. A plan written by a parent is a parent's plan, and it won't stick.

An RBC-linked survey summary reported that 49% of Canadian parents fear their kids will spend money too quickly, and 42% worry about poor spending decisions. Those worries are real, but a kid who has already spent $12 on beads and had to earn it back has a head start on both. (That summary comes from a third-party aggregator, so take the figures as indicative.)

Pick a Saturday. Set a $10 starting budget. Let your child choose a tiny business and write three numbers on a page: what it costs, what they'll charge, and how many they need to sell to break even.

Then run it. After, sit down for the ten-minute debrief. Split the profit into spend, save, give, and reinvest. Tell one money mistake of your own. That's it.

Key takeaways:

• Most parents want to talk money; fewer talk through mistakes.
• A small business creates natural, low-stakes money conversations.
• Use spend, save, give, reinvest jars.
• Debrief every outcome with curious questions.

At what age should kids start learning about money? Many experts suggest starting with coins and simple choices around ages 3 to 7, and building routines like allowance by 8 to 12. About two-thirds of parents in the U.S. Bank survey have started or plan to start before age 12.

Should allowance be tied to chores? One approach in the BNN Bloomberg advice is to keep a fixed weekly allowance separate from chores. Families differ, so choose what fits your values and stay consistent.

What is a good first kid business? Something simple that finishes in a weekend: lemonade, bracelets, dog walking, car washing, or selling outgrown toys.

How do I talk about a failed business idea? Ask what happened, what they'd change, and what they want to try next. Share a mistake of your own too.

Do kids need a bank account? It helps from around ages 10 to 12, so they can see the balance and track progress. Ask your bank about youth accounts and fees.

What if my child isn't interested in money? Start with something they love. A craft, a game, or a pet can become a tiny business, and the money lessons follow.

1. U.S. Bank Survey: 67% of Parents Talk Money Before Age 12 (U.S. Bank)
2. Putting off the money talk with your kids? Here is where to start, depending on their ages (BNN Bloomberg)
3. Taking the financial reins when you turn 18 can build confidence for the future (BNN Bloomberg)
4. Canadian Parents Struggle to Balance Financial Independence for Kids (BriefGlance, summarizing an RBC release)