“Can I have $20?”
If you’re a parent, you probably hear this question from your children day in and day out.
And even if you’re not a parent yet, like me, you probably still hear this question from kids when you’re out and about in your everyday life.
Being a parent is no easy task, and I can only imagine how hard it must be. You’re trying to make sure your children grow up feeling loved, supported and nurtured, and also teach them how to be a responsible, wise and independent individual. Then add in teaching them how to be good at money management, and bam, just like that, everything gets more complicated.
Fortunately, I was blessed with amazing parents who taught me the importance of getting a job, saving my money and being responsible with my money. My parents also said “no” to us kids a lot when we asked for things,which was good because it taught us the importance of delayed gratification, and the value of money, since we learned that money doesn’t just grow on trees.
I know money is not an easy subject to teach, but the more financially wise you are as a parent, the better off your children will be in their own financial lives. After all, most of what shapes our financial lives today comes from what we were told about money and what we experienced with money growing up.
In today’s Financially Wise Wednesday video, my assistant Tanysha and I act out a common money scenario for parents and kids, and then I share simple tips to help you teach your children how to become financially wise.
What tip did you like best? We love hearing from you, so leave a comment below and share which one was most impactful for you.
Also, make sure to check out our new six-week online Money Class. We are starting live weekly calls for all the Money Class students in June, so make sure you enroll today!
Have a great rest of your week!
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. There is no assurance that the techniques and strategies discussed are suitable for all investors or will yield positive outcomes.