Financial Tips for our Children by Chantay Moore
When working with families, I often find myself engaged in conversations with parents and grandparents helping them learn how to teach their young ones about money. I know this is often seen as taboo or thinking, kids don’t need to know about “adult business”. But if you don’t have conversations with your children about being financially responsible adults, then who will? Remember you are your child’s first teacher and you got this!
First and foremost, you have to develop the belief that it is okay to talk to your children about money. You should also know that even if you don’t have intentional conversations with your children, they will still learn how to handle money directly from observing you handle money. Even if you believe you don’t have a lot of money, you can still demonstrate someone who pays their bills on time, who has financial goals they are saving towards, and who is not overspending on unnecessary material objects.
Lastly, if you have some pre-teens, a book a highly recommend having them read is ‘How Money Works: Stop Being A Sucker’ by Steve Siebold and Tom Mathews. This book is so simple and fun to learn about money that even my 11-year-old daughter has read it and understood the concepts within it. Just make sure you read it first!
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