So, Why speak to your kids about money?
For the environment... They are the future. Teach them about frugality now and the earth will thank you.
Have you ever wished you were taught? I remember my mother with a calculator every week paying bills but we were never included in conversations or decisions.
When I released myself to the world at 17, I was ill-prepared to manage my money. Most adults were not included in family financial discussions or taught at home or even in school about managing their personal finances when they were younger.
Like skiing, finances are easier if you are taught from a young age.
How to start?
- Give them their allowance or have them present their paycheck.
- Put 50% in an account for something they wish to save for. Let them have 50% to spend on whatever they want today. This helps them put value to money.
When my daughter was 6, she was crestfallen as the cafe clerk took all six coins from her purse for her soda. She asks for water now, double-win.
Be the change. Great line, don't worry that your kids are not listening to you because they are watching everything you do. Have your own budgets, refer to them, show them vacation savings plans, let them make sacrifices to make it happen, speak about triumphs and disappointments. Frugality breeds creativity.
It’s never too young to learn that.