Household economist, Dr. Adetutu Afolabi says parents’ approaches to money management, conflict resolution and communication at home can shape their children’s attitudes towards finances and relationships in adulthood.
Afolabi, a relationship and family advocate and convener of the Marriage and Money Summit 2.0, said children learn financial and relationship habits from observing their parents’ everyday conduct.
She said the lessons children absorb at home could influence how they manage money, handle disagreements and build relationships later in life.
“Every home is a classroom, and every marriage is a living script that children are watching,” Afolabi said.
She warned that financial secrecy, irresponsible spending and unhealthy conflict could expose children to patterns that may affect their future financial decisions and relationships.
According to her, households that practise financial transparency, responsible spending, mutual respect and healthy communication can provide children with positive examples to follow.
Afolabi said financial education should begin at home before children start earning incomes, urging parents to teach them age-appropriate lessons on saving, budgeting, responsible spending and financial accountability.
Through the Marriage and Money Summit 2.0, she is encouraging singles, engaged couples, newlyweds and parents to pay greater attention to financial planning, marriage preparation, debt management, emotional intimacy and parenting.
She also called on educators, community leaders and family advocates to promote relationship education and household financial literacy, arguing that the habits children acquire at home extend beyond individual families.
Afolabi said building generational wealth should go beyond transferring money and property to children to include equipping them with the knowledge, values and decision-making skills needed to manage and preserve wealth.