Money trees are all the rage these days and for good reason! Money trees are beautiful, well suited to living indoors and they purportedly bring financial good fortune to those who grow them!
Whether you are growing a money tree for financial luck or to beautify your home, follow these simple tips and you’ll keep your money tree looking vibrant for a lifetime.
Use loose organic soil and a Terracotta pot
Money trees like loose organic soil. Although money trees are tropical, they do not like wet feet and therefore need soil and pot with good drainage. Nearly any quality commercial potting soil will meet their needs.
Money trees have delicate roots that like to “breathe,” therefore terracotta pots seem to be their preferred home. But beware, though terracotta is an excellent choice for a money tree, terracotta pots tend to dry out faster than plastic pots, so keep an eye on the soil moisture levels.
If you choose to keep your money tree in a tray, immediately dump the excess water out of the tray after watering. Very few plants like to sit in water and money trees are no exception.
Give it plenty of bright, indirect sunlight
Money trees like bright, indirect sunlight. Because they are evolved to thrive as understory trees, they are well suited to live indoors. Your money tree will thrive in front of an Eastern window. If you don’t have a window that faces East, you can use a South or West-facing window but pull the tree a few feet back so that it does not receive a direct blast of light, which will likely scorch the leaves.
Do not water on a fixed schedule
The lighter and heat your money tree receives, the more thirsty it will be. Most online guides will indicate that your money tree should be watered every week or so. Rather than watering once a week on a fixed schedule, check the soil once a week. If the top two or three inches feel dry when you insert your finger, your plant needs to be watered. Moreover, money trees usually show clear signs of droop when they’re thirsty. So keep an eye on the leaves, if you see wilting, the tree probably needs water.
Use water-soluble houseplant fertilizer in the warmer months
Money trees, like most plants, only need fertilizer when they are actively growing in the warmer months (for most in the Northern hemisphere, this will be between the months of March to September). During the growing season, you can fertilize your tree once a month with a balanced, water-soluble houseplant fertilizer.
In the wild, the Money Tree can grow up to 60 feet tall! While that sort of monumental growth is unlikely indoors, these trees can nonetheless get unruly over the years. You can tame your tree’s growth with regular pruning. So long as your tree is healthy and growing vigorously, money trees can handle severe pruning. What’s more, the tree will send up new branches nearly anywhere along the stem, allowing you to cut back unruly growth with abandon!
Keep Neem Oil Handy for Spider Mites
Money trees are quite resilient and are not prone to pests or infestations. However, if their growing requirements are not adequately met these trees can become prone to spider mites. If your tree has spider mites, you will notice tiny webbing at the tips of the newest growth, almost as if a tiny spider was at work (hence the name “spider mites”). The mites themselves can be quite hard to see with the naked eye. If your tree is the unfortunate victim of mites, apply a neem-based spray every morning for a week or as long as the infestation persists. Also, consider changing your plant’s location, an infestation is usually a symptom that indicates the plant is not in an ideal environment.
Consult with PlantHero
If you're ever in doubt about the health of your money tree and you need to get it looked at, our plant experts are on standby. Schedule a Plant Checkup here.