Today’s fantastic family finance article is:
Do you make dismissive comments around the kids about handling money? Check out today’s article for some classic examples.
- Maybe you make dismissive comments about budgeting or tracking expenses because you have an ample financial cushion. You want your kids to know you’re successful.
- Maybe you make dismissive comments about being in debt because you’re in a challenged financial position. You don’t want to alarm the kids or have them think lesser of you.
- Maybe you make dismissive comments whenever the subject of money comes up. Talking about money is taboo in your family.
Time to mute the dismissive money comments and turn on the open conversations.
- Your kids need to understand that money is a finite resource to be managed wisely, regardless of any abundance you might currently enjoy.
- Your kids need to understand the different kinds of debt — credit card, auto loan, mortgage, student — and how to carefully consider (or avoid) each.
- Your kids need to understand how money works and the importance of discussing it transparently with spouses or partners.
If you dismiss the little money conversations with your kids now, you’re in for some big ugly ones later.
Get tomorrow’s tip here.