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Your Money Relationship

Empowering the next generation of financially independent women
Five Money Conversations to have with Young Women


Kim Potgieter

Kim Potgieter

August 7, 2023
Have you ever considered how your behaviour and conversations about money impact younger women? Research tells us that children’s money habits are formed by age seven, and they learn most effectively from what they hear, see and experience. The truth is our actions and money conversations as parents and role models send specific messages that influence how the next generation sees, feels and behaves with money.

This women’s month, let’s rewrite the narrative that money is not a ‘women’s thing’ and start nurturing financially literate and confident young women. Lead by example and create a future where every young woman has the knowledge, skills and belief in her financial independence.

In my home, we have always taught our children the value of saving and investing from a young age, and this year, I am sharing the wisdom with our housekeeper’s daughter, Abi, who is one year old. Introducing a piggy bank as a money tool at a young age becomes a wonderful and meaningful lesson in financial responsibility.

Here are five money conversations to have with young women to start them on the journey to financial independence:

#1 Talk about money

Think about how being financially independent would change your life – then start sharing this idea with the younger women in your life. Don’t make this an uncomfortable discussion: money does not have to be complicated. Imagine a life where you are in charge of making your dreams come true – with money as your enabler.

#2 Change the negative self-talk

It’s time to transform the way we think and talk about money. Let go of disempowering beliefs like “money is not my thing” and “someone else can handle the money in my relationship.” Own your financial power and teach younger women that they are capable of doing the same. Let go of the untruths that say “I am not capable” and replace them with the empowering truth – “there is no one better than me to manage my money.”

#3 Change the Conversation

Talk about money in a way that resonates with young women – it’s not just about numbers but an enabler for achieving life goals and dreams. Here’s where to start: If money were a person, would it be an enemy or your best friend? What do you want money to do for you?

Money conversations can be emotional, and that’s okay. Teach them that money is a tool for choice and freedom – to live where they want, achieve their dreams, and shape their future. Make money-talk relatable and purpose-driven by connecting it to real-life situations and future aspirations. Let’s build a positive relationship with money!

#4 Pay Yourself First: Investing in Your Dreams

The most empowering lesson to teach young women is to pay themselves first. Show them how to save at least 20% of their salary towards their secure future. Additionally, discuss the concept of a ‘life-planning’ fund, and teach them to save towards dreams – like starting a business or paying for further studies. Explain the magic of compound interest and lead by example: show them how money is the key to unlocking life goals.

#5 Money Habits

Nurture the fundamental skill of living within your means from a young age. It’s not about restrictions but understanding how habits can support or boycott your long-term goals. It’s helpful to put systems in place to support good money habits, like a debit order for your future savings. Once you’ve mastered a good money habit – add another one.

Finally, as we pave the way for the next generation, always remember to lead by example. Create a nurturing environment for ongoing conversations where money is openly and positively discussed. Don’t be afraid to ask for help from a reputable financial planner – you don’t have to have all the answers!

Wishing you many healthy and constructive money conversations with the younger generation of women in your family and community,


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