Talking To Your Kids About Making Good Choices With Your (And Eventually Their) Money
- This bench-talk is aiming at parents, who want to make teaching kids about money a top priority.
- Don’t overwhelm your kids with details…the information and advice needs to be age-appropriate
- Every kid is different, even within one family, and the way it works to teach one of your kids about money won’t work for another.
- Success can be found by teaching concepts and developing habits.
- Charitable giving
- Making choices ahead of time
- Regarding making choices, here’s a suggestion:
- Use an envelope with cash
- Make a list of fun events, set that aside
- Decide on spontaneous fun
- Family is on the same page
- Changes the conversation from “we can’t afford it” to “we made a different choice”
- Forms a habit of thinking before spending
- Encourages creative entertainment options
I am always looking for new ideas about how to make teaching kids about money easier and more fun. I like to incorporate these ideas into my own family and pass them along, so please email me yours and we can improve together.