In this episode of ThimbleberryU, we continue our conversation about teaching kids financial responsibility, focusing on debt, budgeting, generosity, and investing. Jag and Amy Walls provide practical strategies for helping children understand money in an age-appropriate way.

We start by tackling the sensitive topic of debt. Amy shows us her “suitcase” analogy to explain tailoring financial discussions to a child’s age and capacity. Younger children benefit from relatable examples like borrowing toys or Halloween candy trades to grasp the basics of borrowing and repayment. For older kids, it’s about introducing concepts like credit cards, interest, and student loans while sharing real-life stories to provide context.

Next, we cover budgeting, where Amy suggests turning it into a game. She shares how activities like shopping for a food drive or handling a pretend shopping trip can teach kids about choices and trade-offs. By guiding children through small financial goals and allowing them to make mistakes in a controlled way, they learn the value of planning and accountability.

Amy also emphasizes the importance of generosity. She explains how encouraging kids to give, whether through charitable donations or thoughtful gift-giving, can foster a sense of responsibility and connection. She suggests matching their contributions to amplify the impact and reinforce positive habits.

When it comes to investing, Amy recommends starting with simple concepts. For example, using well-known companies like Disney or Apple can make stocks relatable. Analogies, like planting a tree to illustrate the slow growth of investments, help demystify the process. However, she stresses the importance of having a solid cash reserve before diving into investing.

Jg and Amy reflect on how money conversations were often avoided in previous generations. By fostering open discussions and age-appropriate financial lessons, parents can better prepare their children for a healthy financial future.

To get in touch with Amy and her team at Thimbleberry Financial, call 503-610-6510 or visit thimbleberryfinancial.com.