What Your Children Should Know About Money
A recent T Rowe Price survey shows that 71% of parents are reluctant to talk with their kids about money. As I have always said, if we don’t teach our kids about money, the world will. That should place a spirit of urgency into every parent who wants nothing more than their kids to view money through the lens of prudent stewardship and not the lens of the materialism and consumerism.
When I come across a good resource, I want to share it. Kiplinger Magazine’s Personal Financial Editor Janet Bodnar came on the show yesterday to talk about her article “10 Things Every Kid Should Know About Money By Age 18” – I would encourage you to read it. These are great tips.
The one thing that struck me that I myself overlook are teaching moments. I think we avoid talking about money because of a presumed time commitment. It is the notion that we have to sit down and have an intentional talk with our kids. Then we battle with the question – When are we going to squeeze that in?
When in fact, everyday you have small teaching moments where you can teach something about money. For instance, when you tithe, incorporate your kids into the process. When you go to the grocery store, take your kids along and initiate their help in the process of finding the best deals, using coupons, and effective grocery shopping. There are tons of teaching moments. You just have to be looking for them.
I will say it again (and yes I am saying it to myself). If we aren’t teaching our kids about money, the world will….and there are incredibly messed up worldly beliefs when it comes to money!