Raising Confident Stewards of Wealth: 7 Truths You Should Know
Financial literacy is one of the greatest gifts you can give your child. Yet most young adults leave home with little preparation for managing their finances, leaving them vulnerable to debt, stress, and missed opportunities. At Brighton Jones, we believe Fin Ed. — our approach to financial education — is about much more than dollars and cents. It’s about empowering the next generation to live with intention, independence, and purpose. And to be confident stewards of wealth.
Here’s what we know: there is a very real gap in financial education. The average financial literacy rate in the US is 49%, and that drops to 38% for GenZ. We also know that financial education starts at home, with 75% of US teens saying they rely on their families for it.
As parents, we want our children to have a healthy relationship with money, but talking about money can be both technically and emotionally complex. Many parents struggle with when and how to start those conversations. But raising financially savvy kids doesn’t require you to be an expert — just intentional, consistent, and willing to be vulnerable.
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Before diving into tactics — allowances, chores, bank accounts — it’s essential to establish a foundation. These seven truths represent our philosophy on raising your child to be a confident steward of wealth. They’re drawn from research and from our work with hundreds of families navigating this journey.
Truth 1: Financial responsibility is taught, not inherited
Kids don’t learn money management through osmosis. They need structure and practice. A straightforward approach is the three-jar allowance system: save, spend, give. For example, a 7-year-old might divide $10 each week into $4 for savings, $5 for spending, and $1 for giving. Watching those jars fill up — and sometimes empty quickly — teaches patience, trade-offs, and the value of generosity.
Truth 2: Lead by example
Your children are always watching. If you talk openly about your financial missteps — such as a parent who shared the story of racking up $10,000 in credit card debt during college — you model honesty and resilience. Just as importantly, when they see you set aside part of every paycheck for savings or choose values-based giving, they internalize those habits.
Truth 3: Talk about money — early and often
Money shouldn’t be a taboo topic. One Brighton Jones advisor shared that they make money part of dinner-table conversations — whether about a recent purchase or how their kids are saving for something they want. These casual, ongoing discussions build comfort and clarity. Even grocery shopping can become a lesson: comparing brands side by side teaches kids how small spending choices impact the overall budget.
Truth 4: Promote hard work and independence
Effort leads to reward. Beyond allowance, encourage kids to earn extra money through jobs like babysitting, pet sitting, or even “brain gigs” such as summarizing a TED Talk. One teen we’ve worked with started a lawn-mowing service in the neighborhood — learning not only the value of hard work but also the importance of customer service, pricing, and accountability. These experiences give kids the confidence to stand on their own.
Truth 5: Be the coach, not the fixer
When your teen blows their monthly clothing budget on trendy sneakers, the instinct may be to swoop in with more money. Resist it. Take, for example, a 14-year-old with a debit card and a fixed monthly budget of $300. When they overspend, they’ll have to wait until the next cycle. Over time, they became increasingly thoughtful about their purchases, because mistakes, not bailouts, built their financial discipline.
Truth 6: Expand their circle
Mentors and advisors often reinforce what parents can’t. For instance, a 16-year-old who opens a UTMA investment account with a financial advisor can choose a few funds, track performance, and experience the highs and lows of market swings. Their parents could have explained compound interest, but hearing it from a trusted advisor — and seeing it play out in real time — made it stick.
Truth 7: Use philanthropy to teach purpose
Giving creates perspective. For example, a family might establish a tradition where each child selects a cause to support during the holidays. One year, a child could choose a local animal shelter and even volunteer to see the impact firsthand. Experiences like these nurture empathy and gratitude, helping children understand that wealth is not just personal—it’s a force for good.
Preparing for a richer life
At Brighton Jones, our mission is to help clients, colleagues, and the global community live richer lives. Through Fin Ed workshops and resources, we help teens and young adults build not just financial literacy but also a framework for aligning money with values. Our advisors have resources and experiences to help both parents and kids of all ages navigate their financial education journey.
Because in the end, raising financially savvy kids isn’t about perfection. It’s about progress, everyday conversations, and giving them space to practice. When children learn to see money as a tool—not a measure of self-worth—they grow into adults who can use wealth with clarity, confidence, and purpose.
And that’s what it means to launch them well.
About the author: Jessica Andrews is the General Manager of Lenora Family Office, Multi-Family Office, and Impact at Brighton Jones. She leads Lenora’s work with ultra-high-net-worth families, helping them communicate openly, steward wealth across generations, and direct their resources toward meaningful impact.
This content is for informational and educational purposes only and should not be construed as individualized advice. For individualized advice tailored to your specific circumstances, please consult with your adviser.
