Talk To Your Kids About Money (Part 3)

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Talk To Your Kids About Money (Part 3)

talessi@ariesfoundation.org

LEAD BY EXAMPLE

As a parent, I believe, that the number 1 goal we have for our children is that they grow up to be healthy and responsible adults. That we have taken the time to teach them good values, the difference between right & wrong, and to be a productive member of society

AND THEN IT COMES TO MONEY & FINANCES

THis is where things get a little squirrelly. See, while we are trying to instill in them all of these ideas and teach them to be good people, they are also watching us, and learning from some of the things that we do (or don't do) as well. And a lot of us just don't have good habits when it comes to our money:

1. We Don't Talk About It - Research shows that people would rather talk about just about anything before they discuss their finances. Not to put blame out there, but most of this can be traced to our parents, if they didn't discuss finances, or what things cost, or if there were money troubles, then evitably we won't either.

2. We Get Stressed - Not having a handle on how money is being spent, or that there ends up being too much month at the end of my money, can create anxiety about finances. Kids can sense that and not wanting to experience the stress or worry can carry with them into adulthood, so they won't want to deal with money.

3. I'm Not Good WIth Money - The reality is that handling money is hard, because even though Money may seem like Math. Money isn't Math. Math is math. Numbers and figures and 1 + 1 = 2. Money, however, is emotional. The problem that most people run into when handling finances is that they try to treat their money like it's math, without taking into consideration how they actually "feel" about money. This gets us back to #1 and talking about money. Until we understand or figure what drives our realtionship with our finances, we unfortunately, will probably cvontinue to spiral around without making much headway in turning things around.

START MAKING SMALL CHANGES

Yes, pun intended based on the name of our blog, but you don't have to try and do a major overhaul to how you handle your finances to impact how your children will be with money. Next time you are in a store and they want you to buy them something, go through what it costs. Put it in the cart, but before you get to the check-out line, pull over and ask them about the item; "Why do they want it?", "Do they really need it?", "Would they rather have this now, or something else they had mentioned in a week or 2?".

CHECK OUT OUR LATEST VIDEO

Sunday Night at 6:30 PM we premiere HOW TO TALK TO YOUR KIDS ABOUT MONEY on our YouTube Channel. This is a pure highlights only of our webinar from last night and will touch on these and other points to try and help you, so then you can show your children, how to have a beter relationship with their money.

GOT QUESTIONS? ASK US. WE CAN HELP WITH THAT!

The ARIES Foundation for Financial Education, Inc is a nonprofit dedicated to helping everyone have a better relationship with their money. You can follow us on Facebook, Twitter, Instagram, or Youtube.

Visit www.ariesfoundation.org to learn more.

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