Finance is not often a favorite topic of conversation. But kids have lots of questions about money. Why do we need money? How do I get money? Can I have more money Dad? In this series of Money Talks Jr. we will be exploring different ways that finances can be brought into conversation naturally. These won’t be quecards on how to explain investments to your 8 year old, but it will be personal experiences of successful situations we stepped into with our kids to help them understand responsibility and financial goals better.
These situations are all kid friendly. We aren’t handing them hundred dollar bills and telling them to “Invest wisely!” Or making kids pay rent to get a taste of the real world. What we do is we create a safe environment for discussion and walk with them through situations that allow life lessons, formation of good habits, and responsibility.
You may be thinking, “They’re just kids! They can learn about finances later.” But on the contrary, children who are taught about budgeting, financial goals and strategies are better equipped for adult life. It also increases their chances of being financially independent as adults. Lessons that teach responsibility produce purpose in a child’s life, not entitlement. Whether you are in a financially stable spot or if you are currently working to be in a better place financially, it doesn’t matter. Your kids still need these sorts of lessons for their own growth.
There are many pros to creating financial lessons for your kids to walk through with you. At Dan Houcher Financial, we know that knowledge is power and sharing your knowledge with your kids makes all the difference in their futures. So stick around and find out what tools we can add to your all-star parenting tool belt.