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Even young children learn that we have to spend money on many things in everyday life. They see mom or grandpa paying at the checkout in the supermarket, and when they are a bit older, they have their own pocket money to spend. They learn about the price of all kinds of things. However, the cost of having the light on in their bedroom or enjoying a nice long hot shower is much less obvious. If we have a shower today, we don’t see the electricity bill until months later, and children often won’t even know anything about it. So how much did this morning’s hot shower cost? Hardly anyone knows the precise answer, which is why we often pay little attention to these expenses in everyday life. However, making them visible promotes the careful use of resources, helps save money and contributes to children’s financial education.

But it’s not just the cost of electricity or heating that is invisible to children. Bills for the Internet, the library card, streaming subscriptions, insurance and radio and television licenses are also rarely seen by children and young people. This has become even more pronounced in the age of digital invoices and automatic payments.

What’s more, it is becoming increasingly easy to spend money online. Very often, the item being ordered remains virtual and the very concept of money can’t be physically grasped, it is “simply gone”. This makes it more difficult to develop an awareness of costs, especially for children and young people.

By actively addressing these costs and making them transparent, you can help your child to consume responsibly and plan their spending more realistically. This is an important basis for adulthood so that they can budget properly, keep their money under control and protect themselves from debt.

The easiest way to explain hidden costs is to use specific everyday situations. For example, instead of simply renewing the library card, you could work out together at the family dinner table shortly before it expires how much the card costs per week or month. Think about how often you borrow books and media and decide whether it’s worth renewing the card.

You could also examine the cost of living together. For example, when your child is brushing their teeth, you could talk about why it’s better to turn off the tap in-between to save water and money. Or you could encourage your child to check that the lights are switched off when no one is in a room and explain that this saves electricity and costs.

When it comes to energy costs in particular, it is also interesting to explain that – unlike library cards – the costs are neither fixed nor flat-rate: the price itself fluctuates, and depends on your own consumption.

There is also a good chance that your child will learn about topics such as electricity and water sooner or later at kindergarten or school, and will start asking their own questions. Take advantage of learning windows to improve your child’s financial education. They will gradually develop a feeling for the fact that there are many invisible costs in everyday life and that almost everything we consume has a price.

You can raise children’s awareness of costs in everyday life from pre-school age, i.e. between 1 and 3 years old. Ask your child to turn off the light when they leave a room and to turn off the tap immediately after washing their hands, for example.

In general, children learn best through their senses. That’s why it’s particularly helpful if you make hidden costs visible. For example, you could explain: “Electricity for light costs money. When we can see the light, it means it costs something.” Or illustrate principles such as water consumption or heating with the help of role play or drawings.

From kindergarten age, at around 4 or 5 years old, you can also involve children in everyday financial life. For example, you could write the shopping list together and look at the price tags in the store and check the receipt afterward.

This will also allow you to discuss the topic of food waste. Once your child has seen the receipt, they will have a better understanding of the fact that throwing away food basically means throwing away money.

Older children from Secondary II (9–11 years) can already understand more complex invisible costs. Costs become particularly tangible when children are involved in expense planning and budgeting.

A youth wage is the ideal starting point. This allows young people to experience what life costs and to pay for a significant proportion of their expenses themselves. It’s best to help your child with the planning and draw up their first budget together. This is a good opportunity to take a closer look at “invisible” costs such as rent and health insurance.

From Secondary I, i.e. at around 12 to 14 years of age, it is also advisable to address the subject of digital expenditure such as streaming subscriptions or in-app purchases. Discuss with your child how these transactions work and what the risks are.