ABC News: Teach Your Child How to Handle Money

Why Parents Don’t Talk to Their Kids About Money

I just found this article on ABC news and wanted to share it with all of you.
I think it really hits home with a lot of us parents and really helps us understand the link between kids and money.

ABC News: Teach Your Child How to Handle Money:

“Why Parents Don’t Talk to Kids About Money

The biggest reason is a lack of education. For the most part, the concepts of saving and investing, and even basic money management, are not taught in our schools. As the online survey from Schwab revealed, there is a general sense of discomfort around these topics which make it a real challenge for parents to broach them with their children.

Compounding this feeling of uneasiness is a lack of knowledge and confidence about financial matters — which makes it difficult for parents to pass along important insights to their children.

Where to Begin
I think the best way to introduce the topic of money to your children is to do so at the dinner table. Oftentimes, it is the only time the whole family is gathered together on a regular basis.

I encourage full disclosure between parents and their children when it comes to family finances. Time and again, I see parents who are struggling financially, but want to protect their children from these struggles. By doing so, they often end up digging themselves deeper into debt by continuing to support the spending habits by their children. A little honesty will go a long way towards preventing unsustainable spending and developing a greater sense of financial responsibility.”

Hope you found this article helpful,

Cheers…..Amanda van der Gulik…..Excited Life Enthusiast!