I already know what you are thinking…

“15 Quotes To Teach Your Kids about Money”… Are you going to become one of THOSE bloggers…

Well that answer is …


However, I do love inspirational quotes. Chalk that up to years playing team sports. There is just something about an inspirational half time speech that I just love. In my office now, I have a handful of quotes on the wall that I look at each day. They help me to stay focused and remember the mission.

As Michelle and I raise our son, I truly want to instill a certain set of values that I believe will be useful for him throughout his life. I want him to have a firm understanding of money, debt, and finances so that he can make the best decision for his life. I know like most kids, he is not going to want to listen to what his dad says….

Sooooo here are some quotes about money, debt, and finances from other people not named “Dad”

*I included my own commentary under each one… you know to sort of point out that “Dad” really knows what he is talking about…

15 Quotes to Teach Your Kids about Money

1. You’ve got to tell your money what to do or it will leave.

-Dave Ramsey

If you are not familiar with Dave… GET! His financial peace course helped Michelle and I get on the same page before we got married and it has been life changing. If you don’t have time for the full course, check out one of his books which gives the same sort of information but without the class. The principle of giving your money a purpose is so simple but so powerful when it comes to finances. Before we “told our money what to do” we were often left with more month than money.

2. Money doesn’t change men, it merely unmasks them. If a man is naturally selfish or arrogant or greedy, the money brings that out, that’s all.

– Henry Ford

I purposely did not include the quote about money being the root of all evil because I truly believe that money is amoral. It is the character of the individual that is key. Helping my son become a generous and humble man regardless of how much money he has is key. Then when he DOES have money his character will continue to shine through and he will be generous with his money.

3. You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.

-Maya Angelou

Money should never be the end goal. It should be a byproduct of actively pursuing what you are passionate about. Our goal for our son is for him to have every opportunity to pursue his dreams.

4. Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

-Paul Samuelson

Everyone hears about schemes and get rich overnight methods. However, I would caution to say that they are all bogus. Chasing wild overnight successful will be fraught with mistakes. Putting away money should be a boring event. There is nothing exciting about index funds and that’s the way I like it.

5. Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.

-William A. Ward

There is so much truth wrapped up in this quote that its hard to pinpoint the most important takeaway. Helping my son understand the importance of listening and forgiving are key qualities that we would like him to have. A level of importance just below that is understanding that you cant spend if you haven’t earned the money. This is a basic principle that so many lose sight of.

6. A successful man is one who can lay a firm foundation with the bricks others have thrown at him.

-David Brinkley

Life is hard. Chasing your dreams and aspirations will come with a vast amount of challenges and naysayers. However, using those criticism to continually make your business better is one of the keys to success.

7. Without continual growth and progress, such words as improvement, achievement, and success have no meaning.

-Benjamin Franklin

I am a teacher at heart. We believe in a growth mindset in which people can always learn. Becoming successful and achieving is pointless if you are not always reflective of how you got there. Understanding the road to success is just as important as the goal itself.

8. Do the one thing you think you cannot do. Fail at it. Try again. Do better the second time. The only people who never tumble are those who never mount the high wire. This is your moment. Own it.

-Oprah Winfrey

Some of my greatest successes only happened after repeated failures. Helping my son realize that there is no shortcut to success, that individuals whether it be sports players or CEOs failed a lot on their road to success. However the difference between them and the other guys is that learned from each mistake and got better. They learned not to make the same mistake twice.

9. If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.

-Edmund Burke

Money, wealth, riches… regardless of the word, it can not be what controls each and every decision we make. While I do want to teach him to be smart about money and finances, objectively, being generous really does not make financial sense. Michelle and I want to teach him the power of money but also the importance of being generous. Teaching him to have a generous spirit eliminates the possibility of allowing money to control him.

10. Too many people spend money they haven’t earned, to buy things they don’t want, to impress people that they don’t like.

-Will Rogers

Keeping up with the Jones is a fool’s game. There nothing wrong per say with wanting nice “stuff”. However, our goal is to help him understand the difference of wanting something just for the sake of having stuff versus something that he will have for years. Michelle and I own our home. It is not the biggest or most glamorous but it is our home. Many of our friends have “upgraded” their house over the years getting a bigger house. For us, there really has never been a reason to do so. A twist on the phrase “If it isn’t broke don’t fix it” we live the motto “If it isn’t broke don’t buy a new one”.

11. Every time you borrow money, you’re robbing your future self.

-Nathan W. Morris

Do’h! I wish I had this advice 15 years ago when I started college. As a result of choices I made years ago, I have been stealing away money that could be going towards retirement or paying off the mortgage faster. Back then I had no clue that the “FREE” extra money on my student loans would become a weight dragging us down financially. Teaching our son the importance of debt early is an important lesson so that he does not have to experience the same situation.

12. Time is more valuable than money. You can get more money, but you cannot get more time.

– Jim Rohn

I know this will be a controversial statement in the personal finance community but sometimes you need to step off the gas, take a look around and just enjoy the moment. I am not advocating for spending thousands of dollars frivolously, but I am suggesting that taking time to enjoy family and friends is an extremely important habit to keep.

13. The speed of your success is limited only by your dedication and what you’re willing to sacrifice

– Nathan W. Morris

This may seem like a direct contradiction to number 12 and in some ways it is. Success does not come without sacrifice. If you want to be a better baseball player, you are going to have to sacrifice time to practice. If you want to be debt free, you are going to sacrifice going out to dinner, buying new clothes, etc. There are certain sacrifices that need to occur in order to succeed.

14. Willingness to change is a strength, even if it means plunging part of the company into total confusion for a while.

– Jack Welch

Jack Welch was one of most successful CEOs. He understood the importance of looking towards the future and making drastic changes in order to have continued success. There is nothing wrong with changing course if the situation changes. That is a mark of a great leader. Our hope is that we teach our son the importance of being able to change.

15. I made my money the old-fashioned way. I was very nice to a wealthy relative right before he died.

-Malcolm Forbes

Sorry buddy… We don’t have any wealthy relatives… but this is how kids can make money!

What are some quotes that you would like your son or daughter to live by? Share your favorite quotes in the comment section below.

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