Financial Infidelity

financial infidelity

Financial infidelity tends not to be seen as serious as having an affair.  The reality is, it is a major breach of trust and the damage it causes a relationship can have long term consequences.  And then there’s the financial fallout to deal with.

Financial infidelity can seem harmless enough, buying something that you really know you shouldn’t and hiding it away.  You bring it out saying breezily, “oh, I’ve had this for ages.”  Both men and women do this.  For many couples, financial infidelity stops there.  But for others it can escalate to real financial harm and relationship breakdown. Continue reading

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Pocket Money for Children

pocket money

The topic of pocket money (an allowance) for children can be a highly emotive topic.  Even between parents there can be quite different views on this subject.

The starting point before you even think about talking to your children about pocket money is to make sure that as parents, you are on the same page.  This means you both have to agree on how it is going to work, then implement it. Continue reading

Teens and Money – Part 2

teenagers and money

Teens and Money – a huge topic!  In Part 1 we covered Responsibility, Accountability and Consequences, this week we’re talking about helping your teen build a money plan – not a budget.

If your teenager hasn’t learnt the technique of managing their pocket money (allowance) using cash when they were younger, you will need to encourage them into this system. Continue reading

Teens and Money – Part 1

teenagers and money

Teens and Money is a biggie so we’ve split it into two parts.  Here, we look at Responsibility, Accountability and Consequences.

When it comes to teaching your teens about money, you are going to be starting from one of two places.

The first is that you have been teaching your children about money from an early age, so they already have a good grounding in the value of money.  Continue reading

Money is Emotional, Even for Children

cjildren and money

All our decisions are governed by emotions.  Food is a classic example, when we see that sandwich or the chocolate cake or the donuts, we can taste it.  Our emotions have told us.

Money is another classic example.  If we are happy, sad, stressed or angry, it is very easy to take the credit card for an outing to make ourselves feel better.  If you use money in this way, that is what your children will also learn.

Seth Godin said, “we have a conflicted emotional connection to money.” Continue reading

How Do You Talk to Your Children About Money?

kids and moneyIf you want to raise Financially Healthy Children, then you have to talk to them about money – warts and all.

OK, but why do we need to talk to our children about money?

There are lots of reasons but let’s look at a few.  Firstly, technology has meant that adults are more likely to be using money cards than cash and children (under 10 as a rule) do not understand the connection between the two.  Children don’t know that the cash Continue reading