Raising Financially Grounded Kids in a Privileged World

By Monique Dupree

The Secret to Raising Kids Who Can Handle Money (Without Creating a Monster)

When money isn’t a daily concern, it’s easy for conversations about it to feel unnecessary, or even uncomfortable. But for children growing up in high-net-worth households, understanding how money works isn’t just a financial skill, it’s a character-builder.

No child needs adult stress or deprivation. Yet without a basic sense of how money is earned, saved, spent, and shared, kids can grow up disconnected from effort and values. Worse, they might equate self-worth with comfort.

As a nanny of 27 years, especially for ultra-high-net-worth families, I’ve seen how kids thrive when their privileges come with perspective.

The Dishes Story

I was working in a stunning adobe-style home tucked into the suburbs of Chicagoland. The house looked like it belonged in New Mexico — warm terracotta tones, arched windows, and a kitchen that glowed with natural light. Every meal felt like a little ritual. That day, I was in the kitchen making lunch. While I cooked, the two children, five and six years old, sat at the table quietly coloring and flipping through picture books. They were sweet, respectful kids. Every sentence ended with a “please” or “thank you.”

As I laid out their lunch with matching placemats and cloth napkins, I noticed something. The kids didn’t move. They didn’t help set the table. And when they finished eating, they just returned to their drawings while I picked up their plates.

It wasn’t rudeness. It was habit. And that moment made something click for me.

These kids were fully capable. They had seen me load the dishwasher a hundred times. They watched how I wiped down counters, stacked plates, and arranged napkins. So I decided to invite them in.

I started by showing them how to set the table with intention. Napkin on the left, fork beside it, cup above. Then I had them rinse their dishes and place them carefully in the dishwasher. They used a sturdy little stepping stool and took the task seriously. It wasn’t punishment or busy work. It was their way of contributing to the home they lived in.

Over time, it became routine. And one day, when their parents let me off early, I found out later the children had set the table and cleaned up lunch without being asked. It stuck.

That simple shift taught them ownership. Not just of chores, but of space, family, and effort. And it stayed with them. Today, those two children are adults. One is a well-known movie producer. The other tours internationally with a successful rock band. I’m not saying rinsing dishes launched their careers, but we planted something real. A seed of responsibility, independence, and pride.

So if you’re raising kids in comfort, I encourage you — get them out of their seats. Let them help make the home feel as comfortable for you as you do for them. Those lessons go deeper than clean plates.

Taxes at Seven, Savings at Four

This moment started by accident.

We were on the couch reading one afternoon when my mom boss came home and dropped her briefcases in the foyer. One of them popped open and spilled its contents all over the floor. Papers flew everywhere — pay stubs, tax forms, receipts, and reports. It was the mix of her two worlds: high-stakes Wall Street mornings and cozy evening snuggles with her kids, now scattered across the hallway.

The children, ages four and seven, jumped up right away to help clean up the mess. That’s when the oldest, a bright and curious little girl, spotted a pay stub and a property tax statement. She squinted at the numbers, then said, “Wow, Mom, you’re a richy!”

And just like that, the questions started. What’s that number? Where does that money go? What’s Medicare? What’s retirement? How does insurance work?

So we sat down — the kids, their mom, and me — right there on the floor with papers still halfway gathered, and had one of the best financial conversations I’ve ever been part of.

We talked about where money goes. How income is divided. What taxes are for. Why we pay into social programs. What a 401(k) is. Why some money is saved for the future and some is used now. We even touched on budgeting, housing costs, and how roads and schools are funded.

The kids were locked in. It was like the invisible structure of their world had just come into focus.

Before that moment, they saw the world as a playground. But after that conversation, they started to see it as something people build. Something people fund. They didn’t just learn about money. They learned about effort, and about the systems behind the life they lived. And they asked more questions after that. They started noticing things. They began imagining how they could contribute.

Today, those two children are adults. The youngest is a community-centered architect. His older sister is a successful salesperson with big vision. I’m not saying this moment made them who they are, but I do know it shaped how they think about value, work, and responsibility.

So if your child stumbles onto a tax form or a paycheck stub, don’t rush to hide it. Sit down. Explain it. Let them see what you’re carrying and how it all works. Even at a young age, they can handle more than we give them credit for.

Giving as a Family Value

It all started at a six-year-old’s princess birthday party.

She had invited her entire first-grade class, and not just her class but the other first-grade class too. It was a huge event with dozens of children, parents, drinks for the adults, games, music, and nonstop fun. Then it was time for the cake — a three-tiered pink castle that made everyone pause. There were oohs and ahhs, phones out for pictures, and little voices buzzing with excitement. It was magical. I had helped plan it with the parents, and I was proud of the day we pulled off.

After the last guest left, the birthday girl and I sat on the living room floor to open gifts. She wore a big fluffy tutu and clutched her fairy wand. I had a notebook open to keep track of who gave what for thank-you notes. She opened one gift after another, but after a while, even she needed a break. It was too much.

The sheer volume started to feel excessive. By the end, the gifts were stacked in the toy closet like inventory. As I walked out to my car that evening, something stayed with me. What was the point of all this? Was she really going to play with 50 toys? Was this a good use of money, time, or space? She had more fun playing tag with her friends than she did opening boxes.

I sat down with her parents a few days later. I thanked them for trusting me to plan the party, but I also gently told them I thought we missed something. I shared my thoughts about giving back. What if, next time, we planned something a little different? What if we used the birthday party as a way to teach generosity?

They were immediately on board. They thanked me for being honest and supported the idea without hesitation.

So we tried something new.

The next year, the theme was Boo, inspired by the adorable miniature Pomeranian who took the internet by storm in the early 2000s. We partnered with a local nonprofit to bring in a group of trained rescue dogs. The kids watched a dog show, danced to music, jumped in the bounce house, and had a great time. We still had drinks for the grown-ups and all the party energy. But this time, every child brought a can of dog food to donate to an animal shelter.

In the invitation, we added one small note: if you feel the need to bring a personal gift, please bring a book. That was it.

And it changed everything.

The party still felt joyful, but now it had purpose. The birthday child got thoughtful gifts and a stack of beautiful books. The parents felt proud. The kids felt included in something meaningful. And we started a new tradition, birthday parties that gave back. One year it was a toy drive for the hospital, another time it was coats for kids. The joy never left. But the intention grew.

Those children are older now, but the lessons stuck. They know that birthdays are about more than cake and presents. They are moments to celebrate who you are and what you can share.

If your child is growing up in a world where everything is possible, give them the gift of knowing they can make a difference too.

Start With Mindset, Not Math

Kids don’t need spreadsheets, they need context. Talk about what money represents: time, choice, responsibility. Weave it into everyday life. That’s how they learn.

Use Smart Tools

Try apps like Greenlight for real-time allowance management or Acorns Early for long-term investing. These tools make money feel tangible while giving parents control.

Make Your Own Money

Ty Allan Jackson’s book Make Your Own Money teaches kids how to launch a small business and feel proud of their work. It’s fun, empowering, and gets them thinking early.

My dear friend Ty started his writing career because of one simple question. One day, his son asked if he could open a lemonade stand. Ty said yes, and his son made some money. Then he turned to his dad and asked, “Now what? What do I do with this money?”

That moment sparked an idea. Ty realized there weren’t enough books out there that explained money to kids in a way that felt real and exciting. So he wrote one. And it changed everything not just for his son, but for thousands of kids around the country who now understand that earning is just the beginning.

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Let Your Nanny Help

Nannies see kids in their most natural routines. We can reinforce money lessons through play, tracking, rewards, and behavior coaching. We’re often the first to spot a teachable moment.

Model What Matters

Kids are watching. When you say “I can afford this, but it’s not worth it,” you’re teaching discernment. It’s not about restriction—it’s about values.

The Chelsea Handler Moment (Don’t Try This at Home)

Now, I’m not saying your child should do this (please don’t), but I have to share one of my favorite money stories of all time.

Comedian Chelsea Handler tells this incredible story about how, as a kid, she ran a lemonade stand. Only her version had vodka in it. She saved her profits over the summer and used that money to buy herself a first-class plane ticket while her entire family flew coach.

When they boarded the plane, she watched her mom and siblings walk past her seat and calmly said, “See you at the end of the flight.”
She was ten.

It’s hilarious (and let’s be clear, we’re not handing kids Grey Goose). But underneath the punchline is a kid who saw the value in earning something, saving it, and using it to buy an experience she wanted. That’s rare. That’s powerful. That’s a kid who got it.

Now, if Chelsea had a nanny? Let’s be honest. She never would’ve pulled that off.
But we would have made one heck of a lemonade stand.

Final Thought

You don’t need to complicate life for your kids. You just need to make it real.
Let them contribute to the house and fly first class.
Let them own a savings account and donate books at their birthday party.

Ambition and generosity can coexist. Privilege can be anchored in purpose.

Wealth is a gift. Wisdom is what stays with them.

Want to Raise a Kid Who Understands Money (Without Handing Them a Copy of Forbes)?

Start with picture books. No, seriously.

Even if your child’s future includes family offices, philanthropic foundations, and board seats before brunch, they still need to understand the basics: effort, value, and responsibility.
These books make money real, and yes, they belong on the same shelf as The Very Hungry Caterpillar and Hair Love.

Here’s a curated list worth adding to your home library or slipping into the nanny rotation:

My favorite money-themed books for kids aren’t just about dollars and cents. They spark conversations about responsibility, creativity, and independence. Some are practical. Some are poetic. All of them respect children as thinkers. These are the ones I keep coming back to — the ones I bring into my nanny bag, gift to families, or build lessons around.

• Make Your Own Money by Ty Allan Jackson
  Practical, bold, and empowering. It shows kids how to build a business and feel proud of it. Every child should read this before their first allowance.
  
  
• It Began with Lemonade by Gideon Sterer and Lian Cho
  Fun, refreshing, and full of entrepreneurial spirit.
  
  
• I Am Money by Julia Cook and Garrett Gunderson, illustrated by Josh Cleland
  Turns money into a character — literally. A clever, approachable way to help kids think about what money is and what it does.
  
  
• Daisy Bubble: A Price Crash on Galapagos by Sheila Bair and Amy Zhing
  A lesson on bubbles, supply, and demand — told through a flower frenzy. It’s timely, impactful, and smart.
  
  
• Bull & Bear Build a Bright Future with Bonds by Craig A. Robinson and Carolina Buzio
  An intro to stocks, bonds, risk, and reward — with characters that make it fun.
  
  
• Cooler Than Lemonade by Harshita Jerath and Chloe Burgett
  Tackles competition, resourcefulness, and how to bounce back when things don’t go your way.
  
  
• A Dollar’s Grand Dream and A Penny’s Worth by Kimberly Wilson and Mark Hoffmann
  One is poetic, one is cheeky, both get kids thinking about value in new ways.
  
  
• Bunny Money by Rosemary Wells (Max & Ruby series)
  A budgeting adventure full of adorable chaos. Simple and surprisingly real.
  
  
• Lemonade in Winter by Emily Jenkins and G. Brian Karas
  Grit, counting, and sibling teamwork — all through a snowy lemonade stand.
  
  
• A Taste of Honey by Rebecca Sheir and Chaaya Prabhat
  Blends financial concepts with cultural grounding. A warm story highlighting hard work and reward.
  
  
• Teddy Goes to Work by Ryan Cohen
  Introduces toddlers to the concept that work leads to earnings. Clear, age-appropriate, and foundational.
  
  
• Cash is Queen by Davinia Tomlinson and Andrea Oerter
  Especially great for empowering girls to build financial confidence early. Loud, proud, and smart.
  
  
• Our Home by Lori Sugarman and Emily S. Smith
  Blends financial awareness with environmental responsibility. Touches on shared resources, decision-making, and community care.
  
  

These books aren’t just good reads. They’re sneaky little tools.

One minute your kid’s laughing about a lemonade stand, the next they’re asking smart questions about interest rates.

Whether it’s saving coins, launching a business, or figuring out what really matters, these stories kick off the kind of money talks that don’t make everyone groan.

No lectures. No charts. Just stories that do the heavy lifting while you pretend it’s casual.

They won’t teach tax loopholes, but they will help your kid connect money to meaning.
Which, let’s be honest, most adults are still trying to figure out.

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