2 Awkward Talks to Have With Your Kids Before They're 18 (Not 'That' One)
The teenage years are notoriously tricky for kids and parents, but they're the right time to start talking openly about money and what the family would do in a medical emergency. This is how to get the conversation going.
As children reach adulthood, many parents assume they'll still be able to step in when needed. In reality, that dynamic often changes quickly. Once a child turns 18, parents can lose both visibility and influence in ways they may not expect.
That's why I suggest having two difficult conversations that can make a meaningful difference: The first helping your children build financial literacy, and the second ensuring you can support them effectively in a medical emergency.
Neither is especially comfortable, but both are far easier to have now than after something goes wrong.
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Conversation one: Talk openly about money
Parents are often reluctant to be transparent about money with their children. Some think they're shielding their kids from stress; others are just trying to practice good manners. But in practice, silence creates confusion.
When parents don't explain what's happening financially, children tend to fill in the gaps on their own. And those assumptions are often negative.
In my work with clients in their 20s and 30s, I see the long-term effects of this all the time. Some develop a persistent fear that they'll never be financially secure, even when they're doing well. Others assume a certain lifestyle is easily attainable, only to find themselves living far beyond their means.
Much of this comes down to a lack of context. Income and lifestyle are not always aligned in obvious ways. Some high earners live modestly, while others stretch their budgets to maintain a certain standard of living. Without visibility into the numbers behind those choices, children can develop a distorted understanding of what things actually cost.
That's why it's important to start talking about money earlier, and more specifically, than many families are comfortable with. If you start with simple conversations in the early teenage years, and let the discussions become more detailed as the child grows up, they should have a working understanding of how money functions in day-to-day life by the time they prepare to leave for college or turn 18.
That may include not just opening a bank account, but also:
- How to use debit or credit cards responsibly and build strong credit
- How to budget for fixed and variable expenses
- How student loans, interest and repayment work
- The importance of saving early and how compounding works
- The difference between gross and net pay (including taxes and benefits)
This doesn't mean sharing every detail, but it does mean giving your children a clearer picture of how financial decisions are made. That can include discussions around income ranges and career paths, the cost of housing and day-to-day expenses, savings and investment priorities and trade-offs, and financial setbacks.
Be candid about the full picture, and your children will begin to develop a more intuitive understanding of how money works.
You might also consider bringing a third party into the conversation. If you work with a financial adviser, your child could sit in on a meeting. Hearing these discussions from an objective professional can make the information feel less charged and more credible than when it comes directly from a parent.
Over time, this kind of exposure can reduce anxiety and build confidence. Instead of reacting to money problems with fear or avoidance, your children can begin to see it as something they can understand and manage.
Conversation two: Prepare for a medical crisis
Once your child turns 18, you may assume you'll still be able to step in if something goes wrong. Legally, that's no longer the case.
Under federal privacy laws, doctors and hospitals generally cannot share medical information with you without your child's written consent. That means parents can find themselves in the ER unable to get updates, speak with physicians or understand what's happening in real time.
Consider an unfortunately common scenario: A student experiences a severe mental health episode away from home. Without prior authorization, parents may not be able to speak with providers, review treatment plans or even confirm what care is being given. But with the right documents in place, they can stay informed and provide support when it matters most.
This is why the conversation needs to happen early. You might even make it part of the college send-off, alongside setting up a bank account.
The most important step here is signing a Health Insurance Portability and Accountability Act (HIPAA) authorization form, which authorizes medical providers to share information with you. While HIPAA is a federal law, the specific forms and requirements can vary by state, so it's also important to confirm local requirements.
But remember that this is a conversation. Your adult child may have their own concerns about privacy or independence. Framing this as a way to support them, not control them, can make the discussion more productive.
Don't wait until something goes wrong
These are not conversations you want to delay until something goes wrong. Financial habits are far easier to build early than to correct later, and in a medical crisis, preparation may determine whether you can step in at all.
Discussing both proactively can give your children a stronger foundation for navigating adulthood. These conversations may feel uncomfortable in the moment. But they are far less difficult than the confusion and stress that can arise when these issues are left unaddressed.
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