“You are the average of the five people you spend the most time with.”
Your kids spend more and more time with friends as they get older and more independent. You’ve already noticed their behaviors rub off on each other. And that includes money behavior.
How do your kids’ friends handle money? What’s the collective average of their money behavior? How can you help raise that average without being too intrusive?
Lectures certainly won’t cut it, but shared experiences with friends might. Encourage your kids and their friends to pursue some mindful money activities together. Maybe they could:
- Hunt for bargains together.
- Run a lemonade stand together.
- Find paid neighborhood gigs together.
- Start investing together.
- Raise donations for a cause together.
What else can you think of?
The more thoughtful your child’s friends are with money, the more thoughtful your child will be with money. So think outside the immediate family box, and help raise the average within your kid’s circle of friends. A rising tide lifts all boats — your kid’s boat included.
Get tomorrow’s tip here.