I Told My Kids We Needed to Spend Less—Here’s What Happened

THE FULL STORY

I'm going to tell you something that a lot of parents probably wouldn't tell their kids: I recently lost one of my biggest clients. Yes, it sucked. And yes, I debated not telling my girls, now ages 14 and 11. But then I forced myself to be honest with them.

Money is still one of those subjects that many families avoid, but financial experts say age-appropriate conversations about money are one of the best ways to raise financially literate kids. As it turns out, I now know from experience that they might be onto something.

When the Numbers Changed

I am a freelance writer and editor. I've been freelancing for years, so, in addition to ParentsCanada, I have a pretty good base of clients that I love working with. But the reality of freelance is that clients come and go. Budgets change, businesses morph, get bought or close, and contract staff are often the first affected.

I know this, and I plan for it. But that doesn't make it less disappointing.

About six weeks ago, one of my long-time clients informed me that they had been purchased by a larger company and that the new owners already had a big marketing and content team. They would no longer need my services, which meant I'd be down a pretty good chunk of change by mid-July.

I didn't panic—because this isn't my first rodeo and I always have contingencies—but as a single mom with one income, I did start crunching the numbers. And what I realized was that we needed to tighten our belts—not drastically, but enough to build a bigger cushion until I found a new client to fill the hole in my roster.

Letting the Kids In

Like a lot of kids, my girls are sensitive to change and prone to worry, so I wondered if it would be easier to just make a few adjustments without them ever noticing.

But the more I thought about it, though, the more it felt like a missed opportunity.

So, one night, while driving home from a barbecue at my mom and dad’s house, I told them what had happened and explained that, for a little while, I'd need them to do their part. I also made one thing very clear: Their needs would always be met. We weren't talking about losing our home or giving up essentials. We weren't cancelling extracurriculars or abandoning our summer plans. We were simply going to be more thoughtful about the difference between needs and wants until I replaced that income.

Naturally, there were questions: Did I think it would take a long time to find another client? Did this mean they couldn't do their beloved extracurricular activities this fall? Would we have to scrap our summer bucket list? No, no and no.

I told them I already had irons in the fire, that their extracurriculars were priorities for our family and that our bucket list didn't really involve big-ticket spending anyway. What would change were the smaller, everyday decisions. We'd meal plan more carefully. We'd make grocery lists and actually stick to them. I'd compare gas prices instead of automatically filling up at the station around the corner. We'd all think a little longer before spending money.

Needs, Wants and Butter-Shaped Squishies

It took a few days for the message to sink in.

There was a request for Starbucks with a friend that I declined, suggesting she find something free to do instead or look up a fun recipe they could make together at home. There was an ask for a new scooter when the old one really just needed to be repaired. There was a slightly painful conversation about pressing pause on our twice-monthly eat-out nights.

Then, somewhere along the way, something shifted. The girls started evaluating their requests before bringing them to me. Was it a need or a want? A new Thermos for camp lunches because the old one broke? Absolutely. Some crazy butter-shaped squishy that was apparently the hottest thing on TikTok? Not so much.

Without me realizing it, they had started applying the exact same thought process I was using every day.

More Than Saving Money

Some of my favourite moments have had nothing to do with saying no.

Instead of heading to a restaurant when we're tired of the same old meals, we've started pulling out my favourite cookbooks with a stack of sticky notes and earmarking recipes we want to try together. We've discovered some new family favourites, and I've loved having the girls help with the planning, shopping and cooking. And the other night, when we did go out for ice cream (after trying a new recipe for dinner!),  my youngest looked up and said, "I feel like it tastes better somehow."

And it really did.

Because what used to be a given had become a treat again. There was a little more gratitude, a little more joy and maybe even a little pride in knowing we’re working together.

Looking back, I wish I'd started talking to my girls more about money years ago. Not because I recommend losing a client (I absolutely do not), but because I underestimated what they were capable of understanding. They don’t need to know every detail of our finances, but it has helped them to understand that families make choices, priorities sometimes shift and money isn't something to fear or hide from.

How to Talk to Kids About Money Realities Without Scaring Them

If you're wondering how to start having those conversations in your own family, here are a few ideas:

Lead with reassurance. Before talking about tighter budgets or changing priorities, let your kids know they're safe and that their basic needs will always be met.

Explain the "why." Instead of saying, "We can't afford it," try explaining that your family is choosing to spend money on other things right now. It's a subtle shift, but it teaches intentional decision-making instead of scarcity.

Talk about needs versus wants. It's one of the simplest financial lessons kids can learn, and everyday purchases—from school supplies to birthday presents—offer natural opportunities to have the conversation.

Include them in small decisions. Invite kids to help meal plan, compare grocery prices or come up with free family activities. It shows them that budgeting isn't punishment—it's problem-solving.

Celebrate smart choices. Repairing something instead of replacing it, cooking together instead of ordering takeout or saving up for something special are all wins worth acknowledging.

Make money a part of normal conversation. You don't have to share your salary or your mortgage payment, but talking openly about how your family makes financial decisions helps remove the mystery—and the shame—that so often surrounds money.

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