Ten Reasons to Talk with your Kids About Money
Financial Capability CFEE11.01.19
- Don’t you wish someone had talked with you? (Or were you one of the lucky ones?)
- Do you want your kids to learn from mistakes they make? (Lessons can be good, but harsh – and with significant consequences)
- Do you want them to learn from others who may not have the best interests of your kids in mind?
- Do you feel it is a responsibility you should attend to – like the talk about sex – to fulfill your parental responsibility?
- Talking about money can help to open up important lifelong lines of communication with your child.
- 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.
- 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.
- 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.
- 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.
- 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.
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