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Ten Reasons to Talk with your Kids About Money

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  1. Don't you wish someone had talked with you? (Or were you one of the lucky ones?)
  2. Do you want your kids to learn from mistakes they make? (Lessons can be good, but harsh – and with significant consequences)
  3. Do you want them to learn from others who may not have the best interests of your kids in mind?
  4. Do you feel it is a responsibility you should attend to – like the talk about sex – to fulfill your parental responsibility?
  5. Talking about money can help to open up important lifelong lines of communication with your child.
  6. You can become a “911 call” for them for money problems and questions when things go wrong, they have important questions, or good opportunities present themselves.
  7. Trust is the most important factor in getting information about money – and you are a trusted source for your kids – which puts you in a unique position to help them.
  8. You have probably made a mistake or two along the way – and wouldn't it be good to share that experience and help them avoid the mistakes you made.
  9. Like the famous potato chip quote, once you start, much will likely flow from there and more opportunities to talk, and help, will likely arise.
  10. You will likely feel very good that you did talk with your kids about money – and did your best to help them to build a successful future.