Parents are being cautioned to stop saying “we can’t afford it” to kids. Financial psychologists warn that this phrase can lead to financial anxiety and unhealthy money behaviors later in life. Experts suggest explaining financial decisions based on priorities and values instead. Small, consistent conversations about money can help children build a healthier relationship with finances. Experts recommend talking openly about spending decisions, introducing allowances with guidance, and making money transactions more tangible. By shifting towards values-based explanations, parents can help children feel confident about managing their own finances in the future.

Read more at Yahoo Finance: Experts warn telling kids ‘we can’t afford it’ may fuel lifelong money stress. A wording change helps