SARAH WELLS: How to use your grandparent superpowers to teach kids about money

Whether you’re a seasoned pro with more life experience than a library or a newbie just starting to navigate the grandparent game, I want to let you in on a little secret — you’ve got a superpower.

It’s the power of your stories, your wisdom and a little bit of old-school know-how when it comes to something we all deal with daily — money.

I’ll never forget time with my grandpa. He was a man of few words, but when he wasn’t telling me fairytales, he was teaching me how to manage money. And back in his day it was about writing cheques.

Watching him balance his books sparked something in my brain — a “how does it work” moment that eventually led to my career. It could’ve been a total snooze-fest, but he made it anything but. It was the time and interest he had in helping me understand the world of money that really made it resonate.

While some grandparents might be thinking they don’t want to overstep or contradict what mum and dad are teaching, I believe you still have a crucial role to play in sparking the curiosity of young minds when it comes to money.

It’s about making money interesting, like a treasure hunt for knowledge. You can help open their eyes to the real-world skills they’ll need for life and, in return, they might share some of their digital knowledge with you so you both keep learning.

Here’s how to use your money superpowers for good ...

Story time, money style

You’ve got a million stories, right? From that time Mr Whippy only took exact change to how you saved up for your first bike. These aren’t just fun tales, they’re tiny history lessons filled with experiences and wisdom.

Share how money played a part in your adventures. It’s like a secret ingredient that sparks questions. “Grandpa, you saved for a bike — your mum and dad didn’t buy you one? How long did that take?” Boom! Curiosity ignited.

Ask away, no silly questions here

Your home is often their sanctuary, a judgment-free zone. So, when it comes to money, make it a place where they feel safe to ask anything.

“Pop, what’s a budget do?” Encourage them to ask those tricky questions, even the ones they might feel silly asking mum and dad. You’re the super listener.

Share the fun (and finance)

You’re probably fascinated by their world — whether it’s trying to figure out TikTok, understanding K-Pop Demon Hunters or kicking a footy. When you show interest in their passions, you’re modelling curiosity.

Do the same with money. When they spend their pocket money, chat about it. “Are you sure you want that Labubu, or would saving for something bigger make you happier?”

It’s playing a game, with real-world money lessons.

Let them play teacher

This one’s a game-changer. If your grandchild is obsessed with a new video game or app, ask them to teach you. It illustrates that learning never stops, no matter how many candles you have on your cake.

Learning from a young mind and heart can also be a cool bonding experience. Maybe you have questions for them, too?

Adventure time: money edition

You’ve got more time and patience for exploration. Think museum trips, nature walks, or hands-on fun. Why not sprinkle in some money magic?

Take them to the bank and show them how the ATM works or, even better, visit Perth Mint. Seeing gold being poured or understanding how coins are made can be mind-blowing for little ones, sparking questions and a little history lesson in currency.

Your wisdom is gold

You’ve lived a life full of ups and downs, triumphs and lessons. Share them. Tell them about the value of a hard day’s work or why saving a little bit each week can add up to something big over time.

If money felt like a forbidden topic when you were young, break that cycle. Open up and let them learn from your life.

The ultimate safe space

You’re the grandparent, which often means you’re the one they go to for extra understanding. This non-judgmental zone is perfect for them to express thoughts and curiosities — and lets them really dig into their interests, including money.

Be the eternal student

When your grandkids see you learning new things — picking up a new hobby, devouring books or planning your next trip — it teaches them that learning is a lifelong journey, not just something you do in school.

If you’re curious about new financial apps or a different way of investing, share that with them to create moments and memories.

I truly believe that when grandparents lead by example and get comfortable chatting about money, they don’t just teach kids about saving and spending. They also show them the difference between “needs” and “wants”, which is a huge life lesson.

By showing your grandkids the joys of saving their pennies or how smart investing can make their money grow, you’re not just sparking their curiosity about finance, you’re also deepening your bond and creating a legacy of endless curiosity.

Go on, grandies . . . you’ve got this!

Sarah Wells is a Perth-based money and finance commentator.