What Kids Think About Money - Hope+Cents (2024)

Recently, I had the privilege of speaking to a women’s group on the topic of kids and money. In preparation, I did a little reconnaissance and asked some kids and teenagers a few questions about money.

Q: Where does money come from?

From a money factory. –8 y.o.
I don’t know. –13 y.o.
From work. –5 y.o.
From the bank. –19 y.o.

Q: How much do you think one week of groceries for your family costs?

$50 –10 y.o. (family of 6)
With or without coupons? $60 with, $80 without. –9 y.o. (family of 4)
$300 –13y.o.(family of 4)
$500 –19 y.o. (family of 5)

Q: How much do you think one year of college costs?

$100 –10 y.o.
$85,000 –9 y.o.
$5,000 –15 y.o.
Um, in the hundreds. –8 y.o.

Q: How much do you think a car costs on average?

$800,000 –9 y.o. (This is my son’s answer. Yikes, I’ve got some work to do!)
$200 –8 y.o.
A new car? $20,000 –19 y.o.
What type of a car? A Volvo Wagon? $72,000 – I remember it from when my Mom bought it. –9 y.o.

Q: How much do you think a house costs?

$50,000 –10 y.o.
What type of house? A mansion?…$10,000. My house?…$1,000 –8 y.o.
$11,000 to $20,000 –13 y.o.
Money –5 y.o.

Q: Do you prefer to have your own spending money or do you prefer to ask your parents to buy you things?

Ask my parents, but they have to always say yes. – 8 y.o.
My own. – 19 y.o.
My own. – 14 y.o.
My own. I don’t want to wait for Mom and Dad’s money. –5 y.o.

Q: Would you rather have cash or a credit card? Why?

Credit card, of course! It’s infinite money. – 9 y.o.
Credit card. It’s easier to hold than millions of dollars. – 8 y.o.
Cash. Banks can’t charge you interest on cash. – 14 y.o.
Cash, because I like money. – 5 y.o.

Q: What is the difference between a debit card and a credit card?

Credit cards go to your credit score. Debit cards go to your debit score. – 9 y.o.
You swipe a credit card, and it takes the money away. I’ve never heard of a debit card. – 8 y.o.
A credit card is your own money. A debit card is a loan. – 13 y.o.
A debit card is your own money. A credit card is the bank’s. – 14 y.o.

Q: If you had $100 what would you do with it?

Give half to the homeless and buy Christmas presents for my family with the other half. – 10 y.o.
Save all of it. – 19 y.o.
$10 on iTunes, $25 on books, some on sports stuff, and the rest on iTunes. – 8 y.o.
I would buy a car. – 5 y.o.

Q: What do you do when you want to buy something, but you don’t have enough money?

I do chores to earn the money. – 13 y.o.
Wait and save for it. – 8 y.o.
Ask my parents. – 10 y.o.
Beg my parents. – 8 y.o.

Q: What do you want to do when you grow up? How much do you think you will earn in that job?

Soccer player or inventor. $100,000/soccer season. Inventions vary. – 9 y.o.
Paranormal investigator. $100/week – 10 y.o.
A professional musician. $5000 to $6000/week – 19 y.o.
A scientist. $50/hr – 13 y.o.

Q: At what age do you think most people retire?

In their 40’s. – 8 y.o.
After 20 years of work. – 10 y.o.
When they get old. – 19 y.o.
Senior age. – 9 y.o.

Q: How much money do you think people need to have saved up for retirement?

A couple billion. – 10 y.o.
$1000 to $2000 – 8 y.o.
$10,000 – 10 y.o.
To live comfortably? $20,000. – 15 y.o.

If you’re looking for a good laugh, a conversation starter, or a teachable moment, ask a kid a few of these questions. I’d love to hear their answers. Let me know in the comments below.

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