10 Things About Money Kids Were Taught in the ’90s
Growing up in the ’90s meant learning about money through experience, not technology. From earning an allowance to understanding the value of saving, kids were taught to respect every dollar.
- Tricia Quitales
- 4 min read
Money lessons in the 1990s were practical, simple, and rooted in real-life experience. Many kids learned about saving, budgeting, and earning from everyday activities rather than apps or online tutorials. These teachings reflected a time when financial literacy started young and was often shaped by family values or school programs. Looking back at those lessons shows how much our approach to money has evolved in the digital age.
1. Save Your Change
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Kids in the ’90s were encouraged to drop spare coins into piggy banks or jars. Saving loose change was seen as a simple and effective habit to build financial discipline. Watching the coins pile up gave a visible sense of progress. It taught patience and the reward of delayed gratification. Even small amounts had value and purpose.
2. Always Pay Yourself First
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A common lesson was to set aside savings before spending any money. Whether from allowance or birthday cash, kids were taught to save a portion immediately. This mindset helped build a lifelong habit of prioritizing savings. It reflected a cautious and future-focused view of personal finance. Adults hoped this practice would carry into adulthood.
3. Earning Money Takes Work
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Chores like mowing lawns, walking dogs, or washing cars were often linked to small earnings. Kids learned that money did not come for free and had to be earned through effort. This instilled a strong work ethic from an early age. Even small jobs gave a sense of independence and pride. It was a hands-on lesson in financial responsibility.
4. Credit Cards Are for Emergencies
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Parents and teachers often warned kids about credit cards being risky if not used wisely. The idea was that credit should be avoided unless absolutely necessary. Kids were taught to spend only what they could afford and to fear debt. This view was especially strong after the rise in personal credit card debt during the late 80s and early ’90s. Responsible spending was considered a key life skill.
5. Balance Your Checkbook
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Even before most kids had accounts, they heard adults talk about tracking spending. Balancing a checkbook was a regular task that emphasized accountability. It taught that knowing where your money goes is just as important as having it. This practice built financial awareness and helped avoid overdraft issues. Though mostly outdated now, it laid the foundation for modern budgeting.
6. Allowance Should Be Earned, Not Given
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Many parents believed allowance should reflect effort and responsibility. Doing chores or meeting expectations was usually required to receive money. This approach connected rewards to real-world behavior. Kids were less likely to expect handouts and more likely to value what they earned. It shaped a practical understanding of income and effort.
7. Budgeting Is Key
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Kids were encouraged to divide money into categories like saving, spending, and giving. Budgeting taught them that not all money was meant to be spent at once. Setting financial limits helped control impulses. Parents often used envelopes or labeled jars to make the concept clear. It was a basic but powerful lesson in money management.
8. Avoid Borrowing From Friends
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Borrowing money from friends was strongly discouraged and seen as risky for relationships. Kids were taught to live within their means and avoid financial dependence on peers. If they could not afford something, the lesson was to wait or save. This built financial boundaries and respect for personal limits. It also encouraged honesty and fairness in friendships.
9. Needs Come Before Wants
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A common lesson was learning the difference between what you need and what you want. Kids were reminded that spending should cover essentials first, like school supplies or lunch. Fun purchases like toys or games had to wait or be saved for. This distinction shaped decision-making and delayed gratification. It helped prevent impulsive or emotional spending habits.
10. Cash Feels Different Than Plastic
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Handling physical money made spending feel more real. Kids in the ’90s used actual dollars and coins, which made them more aware of what they gave up. Watching money leave their hands created a stronger emotional connection. It made transactions more personal and tangible. Digital payments lacked this physical awareness and would only grow later on.