Friday, September 23, 2016

Ditch The Say-Do Disconnect Over Money With Your Kids

Say-Do Signpost

When you tell your kids one thing about money, do they see you do another?

You say: “Always use cash.” They see you swiping a card in the store and entering your account info online.

You say: “Never borrow money.” They see you financing the car and the house.

You say: “We can’t afford that.” They see you splurging on occasional luxuries.

Those disconnects are confusing for kids.

If you use credit or debit cards, tell your kids when they’re appropriate and how to use them responsibly.

If you borrow money to finance large purchases, tell your kids when loans are appropriate.

If you occasionally purchase little luxuries, tell your kids how you factor “fun money” into your overall spending plan.

Kids pay attention when it comes to money. They hear what we say. They see what we do. When the two don’t match, they get confused. Ditch the disconnects. Tell it like it is, and give your kids money clarity.

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