Money has been a taboo topic at the dinner table for generations. But as the rising cost of living tightens household budgets, more parents are opening up to their children about finances.
In an Intuit survey of 2,000 parents, 81% said their current financial stress has made them realize how important it is to teach their kids about money. More than a third (38%) report showing their youngsters what rent, utility, and other household bills look like.
Parents surveyed also report saying "no" to purchases more often (66%), involving kids in grocery shopping to make them aware of costs (57%), and explaining how loans, credit cards, and interest work (35%).
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"Parents are starting to feel not only more comfortable but feeling that it is more of their responsibility to start having some of these conversations," said Dave Zasada, Intuit’s vice president of education and corporate responsibility.
Intuit research shows people who are financially literate have higher rates of saving, have higher credit scores, and are more successful at managing debt.
"Ultimately are more capable of achieving their own goals," he said.
Gen Z turning to parents for help
The 2026 Money Study from Wells Fargo sheds light on why early financial literacy is so important.
The study found that many Gen Z adults are delaying major milestones like relocating or getting married as they navigate today's economy. They’re also relying on family for support, forcing many parents of Gen Z adults to have uncomfortable conversations about financial independence.
"Gen Z is in this perfect storm, if you will, to be able to say, 'You know, we're feeling a little bit unstable. We're feeling a little bit messy.' Parents are also meeting them there and saying, 'We'd really actually like to help you,'" said Emily Irwin, head of private wealth planning for Wells Fargo.
In the national survey of nearly 4,000 adults and teens, 64% of parents of Gen Z adults said their children rely on them financially for money, housing, or other support. More than half of those parents (56%) said that support is straining their own finances.
"It can be delaying retirement. It can mean their spending is a little bit tighter than they expected," Irwin said. "It even causes a bit of a reevaluation of financial goals for parents."
Irwin emphasized that parents need to be honest about what their financial support entails.
For example, "Are these gifts or are they loans? If they're loans, do they expect to be repaid at what timeline? With or without interest?" Irwin said.
Helping children understand money
Experts say education is the first step to helping children achieve financial independence.
"Talk to your kids about the basics and the fundamentals of banking, of investing, of saving money and what debt looks like," Irwin said.
Kimberly Sneed is one parent encouraging her son, Adrian, to learn money management skills using an app called Bloomster.
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"An app where kids can learn different life skills and financial literacy is one of those courses that they can take," Sneed said.
The task of teaching financial literacy doesn't fall on parents alone.
"We're currently at 30 states that have a graduation requirement where students in those states have to take a personal finance course in order to graduate," Zasada said.
The Intuit survey found the vast majority of parents believe financial literacy should be treated as a core subject in school, just like math or science.
"Our focus has been on making sure that education starts happening at a younger age. Before real financial decisions are made that can impact them long term," Zasada said.
