Parents fear for their children’s financial future, but avoid money talk – MoneySense

Concern is high, conversations low

During the teenage and young adult years, children begin to earn money and develop their first financial habits. But many parents worry these habits won’t be enough: 53% say they worry about their children’s financial future, and 71% say stress is affecting their own well-being.

Despite these concerns, many do not talk about money with their children. The survey results show that 36% are waiting for milestones or the right time to present themselves. About a fifth of respondents wait for children to ask questions about specific money topics, and another 16% haven’t talked about money at all.

The takeaway? Most parents are not proactive when it comes to money.

Related reading: 6 strategies to teach kids about money

Social media can fuel money anxiety

Parents aren’t the only ones who worry about money. Another RBC report from earlier in 2025 noted that 64% of Gen Z respondents said they felt financially behind, based on what they saw on social media. More than half (55%) also said social media made them feel like they were struggling.

Lucianna Adragna, Vice President, Client Segments, Everyday Banking at RBC, says one of the best things you can do as a parent is talk to your child about what he/she sees on social media. By talking about their concerns together, you can help your child become more financially confident so he or she isn’t influenced by what peers say on social media.

If you talk about money when your children are young, rather than waiting for young adult milestones, you’ll find it easier to approach almost any money topic. Try to make money a natural part of the conversation and tailor it to your child’s age.

For example, you can explain to young schoolchildren the difference between wants and needs, something they will certainly have to distinguish from each other as young adults. As your children get older, you can explain concepts like budgeting and saving. These are great topics to bring up when you pay your child support, or when they receive money from family members for vacations.

As your children get older, try to involve them in discussions about money or major purchases, such as family vacations. By making money a natural topic of conversation, you’ll teach your children financial literacy, which will help them feel more confident about managing money.

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Start conversations early, even while you’re learning

There are more tools than ever to learn about personal finance, and it can all be a bit overwhelming. But you don’t have to be an expert to talk to your kids about money.

If you’re not sure where to start or have money questions of your own, Adragna says, “Lean on your couch.” Ideally, you have a trusted financial institution that you bank with. She notes that each bank representative will be happy to talk to you about banking concepts you’re unfamiliar with, which can help you feel more confident when talking to your children.

Additionally, major banks and credit unions often have educational resources on their websites, and many banks offer apps geared toward children. Adragna highly recommends RBCs mydoh appdesigned with children and teens in mind. You can have conversations about pocket money, chores, and budgeting while giving your kids control over their own money.

As Adragna says, “The most important thing is to start talking about money early and often.” And remember: There’s nothing wrong with learning about money with your kids.

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About Jessica Gibson

Jessica Gibson is a personal finance writer with more than a decade of experience in online publishing. She enjoys helping readers make informed decisions about credit cards, insurance, and debt management.