3 Brilliant Phrases To Say To Kids Instead Of ‘We Can’t Afford That,’ According To A Finance Expert
MAYA LAB / Shutterstock As a parent, teaching kids about money can be hard. After all, they've never had to pay bills or afford groceries, so money doesn't mean much to them. Fortunately, personal finance expert Samantha, known as @samanthabirdshiloh online, posted a video sharing some more effective ways to tell your kids, "We can't afford that."
Samantha explained, "I always love phrases that help them foster a growth mindset, especially when it comes to money." Rather than using passive phrases, she prefers ones that emphasize power and responsibility over money.
Here are 3 phrases to say to your kids when they want something you can't afford:
1. 'This costs more than I want to spend right now.'
Samantha said, "I like this phrase because it teaches my kids self-control. A healthy financial life is all about wisdom." She's not closing the door on the item forever, but it shows that she can set a financial boundary and stick to it in the moment. Saying this also communicates that spending should be intentional.
Vladeep | Shutterstock
Research has proven the value of teaching kids about money and finances at an early age. One study from the University of Michigan discovered that "children as young as five already had distinct emotional reactions to spending and saving money, and that these translated into actual, real-life spending behaviors."
Study co-author Professor Scott Rick shared, "If parents wait until their children are teenagers to have serious discussions about money, they've already let a pretty formative decade pass. Our work suggests that those important conversations need to start earlier than many parents expect."
2. 'That toy is really cool; let's save up for that.'
According to Samantha, "This shows [kids] that if they want something, they can make it happen, and that waiting for something and saving up for it is not a bad thing."
Johnathan Sanchez, a millionaire and dad of two, is a strong supporter of parents teaching children how to control their finances. He constantly reminds his own kids that waiting builds value and that saving up can help them avoid the stress of debt later on.
Sanchez said, "More often than not, after a few weeks of saving, they realize they don’t want the item anymore. Instead, they’d rather keep their money or find something cheaper in price and more meaningful."
3. 'We have other priorities with our money right now, and we love our family enough to take care of those priorities first.'
This is Samantha's personal favorite phrase to use with her own kids because it emphasizes how money reflects someone's values and priorities. It frames making smart money choices as a form of care, not as punishment or necessity.
New Africa | Shutterstock
By saying "we," you're also making your child feel involved. They learn that spending is based on families' needs, not on the wants of one member. Though kids aren't the ones bringing home the bacon or making big financial decisions, they can still greatly benefit from understanding how adults talk about and treat money.
Kayla Asbach is a writer currently working on her bachelor's degree at the University of Central Florida. She covers relationships, psychology, self-help, pop culture, and human interest topics.
