According to a Rowe Price survey only 23% of respondents said they talked about money growing up, the fact is your child will learn about money from somewhere, do you want that to be from you or some out of control celebrity on social media?
It’s not rude to talk about money, the skill is in getting money to work hard for you! If discussing facts and figures is uncomfortable for you all you need to do is teach children the concepts like saving, good debt vs bad debt, budgeting and giving.
When it’s age-appropriate a great idea is to have family meetings, let children see how you budget. For example, if you are saving for a big holiday that might mean you have to cut back in other areas like getting a takeaway or going to a theme park. Set your family goals and let your children see how patience, self-discipline and sacrifice leads to bigger and better experiences!
If you are paying off debt, explain to your child and when the milestone has been reached, have a little celebration in some way, let them join in the experience!
Opening up about family finances will raise money-smart kids!
#internationalchildensday #familyfinances #moneytalks