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
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
If 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