Summer often gives families something they do not always have during the school year: a little more room. Room for slower mornings, road trips, beach days, visits with grandparents, time with caregivers, and activities that do not have to compete with homework, sports schedules, and the daily school routine.
It can also be a wonderful time to start simple, age-appropriate conversations about money.
*Spoiler alert: Read until the end to find a fun way to engage kids with finances over the summer!
At Schmidt Financial Management, we often speak with clients who care deeply about how the next generation learns about financial responsibility. Parents, grandparents, caregivers, and other trusted adults want children to grow up with healthy money habits, but they may not always know how to introduce those ideas in a way that feels natural.
For younger children, the best financial lessons are often not lectures. They are stories, games, questions, and small everyday moments. That is why our recent conversation with Mac Gardner, CFP®, author of The Four Money Bears, felt especially timely for families heading into summer.
Children begin forming ideas about money long before they are old enough to manage it on their own.
They notice when adults use cash, cards, or phones to pay for things. They hear conversations about what something costs. They ask why they cannot buy every toy they see. They learn, little by little, that money is connected to choices.
The challenge for families and caregivers is turning those everyday observations into helpful lessons.
That does not mean sitting a young child down for a complicated conversation about markets, interest rates, or estate planning. It can be much simpler than that.
It may start with explaining the difference between something we need and something we want. It may involve letting a child save toward a goal. It may mean encouraging them to give to a cause they care about. Or it may mean helping them understand that money can be used in different ways.
Earlier this year, Schmidt advisors Evan Schmidt and Dominic Hubert had a Zoom conversation with Mac Gardner about his children's book, The Four Money Bears. The concept for the book came after numerous clients asked for a resource to help them introduce financial concepts to their kids. These clients were millionaires but were struggling to talk to their kids about money. Mac saw the gap and decided to fill it.
Mac’s book introduces young children to four basic money concepts: spending, saving, giving, and investing. The story is designed to be approachable and engaging, making it a helpful tool for families who want to start financial literacy conversations early.
One of the things we appreciated most about the conversation was the reminder that financial education does not have to feel intimidating. When children are young, the goal is not mastery. The goal is exposure.
A child does not need to understand every detail of investing to begin learning that money can grow over time. They do not need to manage a formal budget to begin learning that choices have tradeoffs. They do not need to make large charitable gifts to begin understanding generosity.
Small lessons can build over time.
For families looking for something meaningful to do this summer, The Four Money Bears can be more than a book. It can become a simple family activity.
A parent might read the book with a child and then ask which “Money Bear” sounds most like them. A grandparent might use the story to talk about saving for something special. A caregiver might use it to explain choices during an everyday outing. A trusted adult might use the book to start a conversation that feels light, positive, and age-appropriate.
As we mentioned last year in our suggested Christmas gifts for kids, a family might create four jars labeled spend, save, give, and invest, then help a child decide how to divide birthday money, allowance, or summer chore money.
The activity does not need to be complicated. In fact, the simpler it is, the more likely it is to stick.
Here are a few easy ways to bring the concepts to life:
These conversations can happen in small moments. At the grocery store. En route to a friend's party. After receiving birthday money. While planning a family outing. The goal is not to turn every moment into a lesson, but to make money feel like something families can talk about openly and calmly.
For many Schmidt clients, financial planning is not only about their own goals. It is also about legacy, values, opportunity, and the people they love.
That is why financial education for children and the next generation matters. It helps connect wealth with wisdom. It gives young people tools to make thoughtful decisions. It also creates space for families and support systems to talk about money in a positive, rather than stressful, way.
Children who learn early that money can be spent, saved, given, and invested may be better prepared to understand more complex financial decisions later in life.
They may also grow up seeing money not just as something to have, but as something to manage with intention.
Over the summer, Schmidt Financial Management will be sharing select clips and insights from our conversation with Mac Gardner.
Our hope is that these short moments give parents, grandparents, caregivers, and trusted adults a few easy ways to begin or continue financial conversations with the children in their lives.
Summer does not need to be packed with formal lessons to be meaningful. Sometimes, one good book, one simple activity, or one thoughtful conversation can make a lasting difference.
PS Did someone say activity? If you want a fun and simple way to teach your children some basic financial literacy this summer, we have the perfect resource! Download our Schmidt Summer Money Adventure PDF today!