Why I’m not just teaching my daughters “financial literacy”
There is a big difference between knowing the theory of something and actually doing it.
I can read every book ever written on marathon running. I can understand the biomechanics of the stride, the nutritional needs of the body, and the optimal heart rate zones. But if I never actually put on my trainers and run down the road, I’m not a runner. I’m just a guy with a lot of theory about running.
It is the same with money.
We often talk about “Financial Literacy” for the next generation. We want schools to teach them about compound interest, mortgages, and pension gaps. And yes, that knowledge is vital.
But knowledge is nothing without behaviour.
As a father to two daughters, my goal isn’t just to make sure they can pass a maths exam or file a tax return. It’s to help them build the habits that will make them financially independent adults.
It’s a bit like that old “Monkey See, Monkey Do” rule.
Kids are terrible at doing what we tell them to do, but they are absolutely brilliant at doing what they see us do (just think about the first naughty words you hear them use).
If I tell my girls that saving is important, but they see me impulse-buying gadgets I don’t need, the lesson is lost. If I tell them to be calm about money, but they see me looking stressed every time a bill arrives, they learn that money is a source of anxiety.
The most powerful financial lesson you can give your children is your own behaviour. It’s about letting them see you make choices.
- “We aren’t buying this today because we are saving for that holiday in August.”
- “We need to fix the car, so we’re going to cook at home this week instead of eating out.”
It’s not about deprivation; it’s about showing them the trade-offs.
And… finding things around your house that make sense to you all can be so helpful in these lessons.
In the Yuille household, the chickens (or #YuillesPoules) are actually a great teaching tool for basic economics.
My daughters know that we have to buy the feed (cost). They know we have to clean the coop (labour). And they know that if we look after them well, we get eggs and lots of cuddles (return on investment).
If we forget to buy feed, the chickens stop laying. If we don’t clean the coop, they get sick.
It is a simple lesson in cause and effect. You cannot expect a return if you don’t put in the capital and the effort.
Growing up in Wigan, the financial lessons were simple and grounded. Living in France now, with clients in the US, UK, and South Africa, I’ve seen how complex the financial world has become.
But the fundamentals haven’t changed.
- Spend less than you earn.
- Understand the difference between “I want” and “I need.”
- Let time work for you, not against you.
If we can teach the next generation to master their behaviour—to have patience, discipline, and a bit of scepticism when something looks too good to be true—the literacy part is easy.
And if all else fails, get them some chickens. Nothing teaches responsibility quite like a hungry hen at 6am.
