Hey there! Last week we talked about empowering your wife or you women empowering yourselves to be a part of the family finances. This week I want to talk about empowering your kids to be part of the family finances. Now, I don’t mean that they need to be involved in the day-to-day decision-making obviously but it’s important to talk to your kids regularly about money, helping them to understand what money is, why it’s important, and helping to build their values around it.
We did a video a long time ago now, it seems like, where we were explaining how you can talk to your toddlers about money. Fischer, do you remember the three things we talked about you could do with money? “Spend money, give money, and save money!” Good job, you did remember! So, this is something we constantly drill home with them. They’re getting closer to the ages where we may begin doing chores and things like that where they can start to actually put these concepts into practice. Even when we go to the stores, we also want to make them aware of ‘we can’t just buy anything that’s on the shelf, it costs money’ and ‘we have to work to get that money’ and helping them to learn and understand that if ‘they have only a certain amount of money to use to budget within that’.
This is just another video to EMPOWER YOUR KID, help to teach them! This is not something they’re taught in school it’s up to us, as parents, to really teach them exactly what they need to know about how to be good adults and good stewards of money when it’s their turn to manage their finances. If you have any questions about that or want to talk more or learn about some different tools, then give us a call at 832-856-2825. We look forward to speaking with you.