Podcast Summary: So Money with Farnoosh Torabi

Episode 1912: The Money Lessons Kids Need By Age 10

Guest: Jamie Bossi (Financial Planner, Author of “Money Boss Mom” & “Investing for Tweens”)
Release Date: December 1, 2025

Main Theme:

This episode explores why and how parents should introduce core money and investing lessons to children—specifically tweens (ages 10–14). Host Farnoosh Torabi and guest Jamie Bossi discuss the critical window for instilling lifelong financial habits, translating real-world money lessons, and empowering both children and parents (even those with limited financial confidence) to talk openly about money. Along the way, the conversation covers gender differences, college milestones, family struggles, and hands-on approaches for making money tangible for kids.

Key Discussion Points & Insights

1. Jamie Bossi’s Path to Financial Education & Motivation

• Background: Jamie began in elementary education. As a college student, a pivotal moment occurred when her parents filed for bankruptcy, exposing her to the real consequences of poor financial literacy.
• Motivation: She realized financial skills aren’t innate and felt compelled to combine teaching and financial planning to help families.
• Quote:

  "No one knows how to be good with money automatically. It's something you have to practice and learn." (06:53, Jamie Bossi)

2. Why Age 10–14 is Critical for Money Lessons

• Childhood Habits: Financial psychologists note that money habits are often formed as early as age 7, making tween years a prime opportunity for instilling healthy behaviors.
• Long-Term Benefits: Early investing means more time for compounding to work, which could have a profound impact on lifetime financial wellness.
• Quote:

  "I've never ever met with somebody who said, 'Man, I started investing too early and I'm sad I have all this money built up.'" (11:11, Jamie Bossi)

3. Practical Approaches: Making Investing Tangible for Kids

• Stock Ownership for Tweens: Engaging kids by linking brands they use (Nike, Dick’s Sporting Goods, etc.) to stock ownership makes the concept real.
• Custodial & Simulated Accounts:
  • Using real money and custodial brokerage accounts is powerful; simulated investing can also provide a safe learning environment for younger or more hesitant families.
  • Kid-focused financial apps (e.g., Greenlight) are mentioned for visibility and practice.
• Quote:

  "If you can correlate, 'You buy things in this brand, but you could also buy stock in this brand and make money when they are making money' ... It can help make it a real tangible lesson." (02:38 & 12:23, Jamie Bossi)

4. Foundational Money Habits Before Investing

• Pre-Investing Skills: Jamie emphasizes mastering earning, saving, budgeting, and banking basics before diving into stocks.
• Teaching Allocation: Instilling the importance of setting aside money for saving, investing, and giving, not just spending.
• Conscious Choices: Teaching those "you can only use money once" moments to reinforce opportunity cost and intentionality.
• Quote:

  "With money comes a lot of responsibility, comes a lot of decision-making, because you can only use it once." (15:25, Jamie Bossi)

5. Addressing Gender and Stereotypes in Financial Education

• Current Gaps: Jamie points out societal tendencies to talk to boys more than girls about money, which must be corrected.
• Empowerment: Normalize money talk and investment curiosity for all kids, regardless of gender.
• Quote:

  "Assuming that both girls and boys are interested in money ... just ignoring those old stereotypes because it's time to move on." (16:42, Jamie Bossi)

6. Navigating Money with Teen and Adult Children

• Building Real Awareness: Many young adults are shielded from financial realities (tuition, bills, insurance costs).
• Boundary-Setting: Parents should clearly outline which expenses they cover, encourage responsibility, and have these conversations before transitions (college, moving out).
• Motivation: The desire for extras often encourages kids to work or budget.
• Quote:

  "They may not even know how much these things cost to run their life. So we have to make these things tangible." (18:55, Jamie Bossi)
  "Nothing encourages working more than wanting for things." (25:36, Farnoosh Torabi)

7. Handling Awkward or Difficult Family Money Conversations

• Honesty & Context: When kids ask tough questions (e.g., about family income or house value), respond with openness and curiosity, but provide context or delay details as appropriate.
• Emotional Intelligence: Kids often pick up on adult anxieties and need reassurance about financial stability.
• Quote:

  "Ask more questions yourself ... maybe they're thinking, are we okay financially?" (27:00, Jamie Bossi)
  "They're watching you too. If they see you fighting about money or being stressed, they feel that." (29:11, Jamie Bossi)

8. The Limits of School-Based Financial Education

• Experiential Learning Matters: While school programs are helpful, real financial understanding comes from hands-on experience, mistakes, and life lessons at home.
• Letting Kids Fail & Learn: Allowing children to make money mistakes under parental support is invaluable.
• Quote:

  "Let them feel the consequences of those actions ... and then use that as a learning opportunity." (30:27, Jamie Bossi)

9. Personality, Neurodiversity & Money Behaviors

• Nature & Nurture: Each child’s personality (patience, impulsivity, risk appetite) influences their money behaviors.
• Tailored Lessons: Recognize and support different tendencies—help impulsive kids with delayed gratification and over-savers with purposeful spending.

10. When Parents Struggle with Money Confidence

• Prioritize Conversation: Even if parents lack expertise or struggle financially, silence is more harmful—use everyday decisions as teachable moments.
• Transparency: Age-appropriate honesty about struggles can build resilience and empowerment in children.
• Quote:

  "Avoiding the conversation is actually making it worse for your kids ... Just keeping in mind that having those conversations, even if you're not sure where to start, is going to help them." (35:41, Jamie Bossi)

Notable Quotes & Memorable Moments

• On Investing Early:

  "I've never ever met with somebody who said, 'Man, I started investing too early and I'm sad I have all this money built up.'"
  — Jamie Bossi (11:11)

• On Letting Kids Learn by Doing:

  "Let them feel the consequences of those actions ... and then use that as a learning opportunity."
  — Jamie Bossi (30:27)

• On Financial Gender Stereotypes:

  "Assuming that both girls and boys are interested in money ... just ignoring those old stereotypes because it's time to move on."
  — Jamie Bossi (16:42)

• On Parental Financial Shame:

  "Avoiding the conversation is actually making it worse for your kids ... having those conversations, even if you're not sure where to start, is going to help them."
  — Jamie Bossi (35:41)

Timestamps for Key Segments

• [06:19] Jamie’s career origin: Parents’ bankruptcy, motivation for financial literacy
• [10:17] Why money lessons by age 10–14 are so critical
• [12:18–13:06] How to make stock investing real for tweens and practical ways to start
• [14:52–16:36] The importance of pre-investing habits and teaching foundational skills
• [16:36–17:12] Cultural and gender differences in financial education
• [18:38–20:11] College-aged children, financial boundaries, and preparing for independence
• [26:01–27:58] Responding to kids’ personal finance questions honestly and age-appropriately
• [29:21–32:10] The true value (and limits) of school-based financial education; letting kids fail safely
• [33:21–35:41] Parenting different money personalities and addressing family financial struggles
• [35:41–36:57] How parents with money anxiety can still teach their kids

Tone & Language

Throughout the episode, the tone is practical, supportive, and candid. Farnoosh and Jamie use warm, real-life anecdotes and a reassuring approach, making financial conversations feel accessible, empathetic, and encouraging for both parents and children.

Conclusion

Farnoosh and Jamie underscore that financial education for children—and especially tweens—needs to be tangible, intentional, and ongoing, regardless of parents’ confidence with money. Mistakes and conversations, not just classes, generate true financial literacy. Parents should empower all children, overcome personal anxieties, and make money lessons a family affair.

Jamie Bossi’s new book “Investing for Tweens” releases January 2026.