Parents with fewer educational and economic resources (low socioeconomic‐status, SES) tend to speak less to their children, with consequences for children's later life outcomes. Despite this well‐established and highly popularized link, less research addresses why the SES “word gap” exists. Moreover, while research has assessed individual‐level contributors to the word gap—like differences in parenting knowledge—we know little about how structural constraints that vary according to SES might affect caregivers’ speech. In two pre‐registered studies, we test whether experiencing financial scarcity can suppress caregivers’ speech to their children. Study 1 suggests that higher‐SES caregivers who are prompted to reflect on scarcity—particularly those who reflect on financial scarcity—speak less to their 3‐year‐olds in a subsequent play session, relative to a control group. Study 2 suggests that mid‐ to higher‐SES caregivers engage in fewer back‐and‐forth exchanges with their children at the end of the month—when they are more likely to be experiencing financial hardship—than the rest of the month. These studies provide preliminary evidence that—above and beyond caregivers’ individual characteristics—structural constraints may affect how much parents speak to their children.