Ramit Sethi says parents avoid money talks because they're scared they can't teach it. Kids need real practice: budgeting a $100 grocery trip with taxes, ordering at restaurants to learn tips, understanding hidden costs like cutlery. Without these lessons early, they'll learn through expensive mistakes later.
Parents, you never talk to your kids about money because the only thing you know about money is we can't afford it. And I want to let kids be kids. So you never even told them, hey, I'd like to go to the grocery store with you. We're going to spend $100. Here's our list. And I want you to learn how to account for things like taxes. And as they got older, you never took them to a restaurant and had them order for the family because then they would learn that they need to factor in tip as well. You simply left them unaware to the rest of the world and then end up like this person's friend who doesn't know anything about phantom costs. They don't Factor in the cutlery. Cutlery is expensive. You don't even know that. They're learning their lesson. They're going to learn in a very painful way.
