infographic

The Money Taboo Cycle: How to Break It #Infographic

The Money Taboo Cycle #Infographic

I talk frequently about money being taboo in most homes here at The Heavy Purse for a reason: Every day I talk to parents who are doing so many things right to help their kids succeed but don’t talk to them about money. In fact, when I mention it to them, most often they seemed surprised. Most of us grew up in homes where money wasn’t discussed, so it’s not our natural inclination to talk about it with our kids either.

While it’s understandable that we may not share our financial situation with the world at large, we still need to talk to our kids about money. To ensure they know how to make good money decisions and how to use their money wisely. Because whether you are actively teaching them or not, they are still learning from observing you. One of the greatest gifts we can give our children is a healthy and positive relationship with money.

The High Cost of Not Talking to Kids about Money

The good news is I also see more and more parents starting to connect the dots and realize that being financially confident is key to their child’s financial well-being.

To help create awareness, I asked Tanya to help me create an infographic that highlights the dangers of keeping money a taboo topic and how easy it can be to break the cycle.

The Money Taboo Cycle #Infographic

Share the Infographic with Others

Please feel free to share this infographic on your blog your website with the appropriate link back to The Heavy Purse.

How Are You Breaking the Money Taboo Cycle in Your Home?

Shannon

The Heavy Purse Store is now open! My new downloadable Money Club Workbooks are now on sale. Each workbook provides five targeted lessons to help you raise Financially Confident Kids. Please check them out in The Heavy Purse Store.

May 2, 2014  •  28 Comments  •  infographic

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Comments

  1. Friday, May 2nd, 2014
    I think not talking to kids about finances can have also create uncertainty in their lives beyond just the #YOLO lifestyle. They may approach money as something they need to get a lot of so that they won't have stress or won't end up in a bad financial situation. This may sound good on the surface but it's actually a distorted view of money that can be counter-productive. Anyway that's my two cents, hope you have a great weekend!
    • Shannon Ryan
      Sunday, May 4th, 2014
      I agree, DC. It does create uncertainty and a lot of what kids see and observe on TV, movies and through marketing doesn't give them a well-rounded view of money. Money turns into a burden and becomes a stressor and it doesn't need to be that way.
  2. Friday, May 2nd, 2014
    This is an awesome infographic Shannon!! It is so true that like any bad behaviors, bad money behaviors are definitely learned and they usually start in the home. It is so critical to break the bad cycles with conversations. I always wish we had them in my home, but I am breaking that cycle by talking about money with my son.
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks, Shannon! It is one of the hard truths we parents have to face - many bad behaviors, money or otherwise, are learned in the home. Many times it happens inadvertently. We don't think they are paying attention but they are. Be honest and open with our kids is so important. I'm so glad you're breaking the cycle with your son. When he eventually becomes a parent, it will be natural for him to talk to his kids because you and your husband broke the cycle.
  3. Friday, May 2nd, 2014
    Great infographic Shannon! I think I will share this :) Thanks
    • Shannon Ryan
      Sunday, May 4th, 2014
      Fantastic! I appreciate you doing so! :)
  4. Friday, May 2nd, 2014
    That's an awesome infographic Shannon! And, you know I love the message even more. :) Like Shannon mentioned above, so much of it comes down to breaking that cycle and having real conversations with your kids and make them ones that count. Have them at home, have them while you're out shopping, have them when discussing why you're not going to spend money on something - they all work towards the end goal.
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks, John! It does come down to having conversations with your kids, which is so easy to do. It doesn't need to be a formal lecture or complicated. It's just explaining how you make decisions with your money and helping them understand that you are making mindful choices. It does make a huge difference. You and I see it in our kids every day.
  5. Friday, May 2nd, 2014
    To delivers a strong but helpful message very well. I love the "I deserve" and "#YOLO" parts! Well done ?#shared
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks! I appreciate it Deb! :)
  6. Friday, May 2nd, 2014
    Excellent points on the infographic. Simple to follow and implement. And great job on designing the infographic Ladies!! :-)
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks, Sicorra! I was inspired by all the infographics you've been making lately. :)
  7. Friday, May 2nd, 2014
    I took on too many of my mom's bad habits since money was never discussed in our home either. I wish my dad would have take the time to sit down with me and go over things since he was always good with money. Great infographic!
    • Shannon Ryan
      Sunday, May 4th, 2014
      I hear that frequently, Tonya, so you are definitely not alone. Parents don't intend for it happen and typically don't even realize they are passing bad money habits to their kids.
  8. Friday, May 2nd, 2014
    My parents taught me about money, but I chose not to listen very well. I do plan on teaching my son about money, but he has no idea what it is right now. He has a little bit before we get to the money discussion.
    • Shannon Ryan
      Sunday, May 4th, 2014
      Unfortunately, we can't always make our kids listen. :) But you recognized your mistake and took back control of your finances too, which ultimately is what matters most. Yes, your son has a couple of years before he's ready to start talking money with you. When it is time, I know he'll get a great education both in action and words.
  9. Friday, May 2nd, 2014
    This goes back to the saying "children learn what they live" If they see parents spending carelessly - they are going to spend carelessly.
    • Shannon Ryan
      Sunday, May 4th, 2014
      Absolutely. Children mimic what they see. So if they see parents making poor money decisions, there is a good chance they will mimic that behavior. It's why it so important we model good financial behavior and help our kids foster a healthy relationship with money.
  10. Friday, May 2nd, 2014
    Great infographic. While I think I'm good with money, I really need to work on my communication skills and watch out for teachable moments when it comes to money. Money conversations should and can be fun, and it is important to allow them to make money decisions
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks, Andrew! Definitely start being on the lookout for those teachable moments. They happen more often than you think and make it really easy for you to have those conversations and teach your kids without them even realizing it. :) Just like we sometimes sneak veggies into their meals, we sometimes have to sneak money into the conversation as well!
  11. Friday, May 2nd, 2014
    Great infograph, Tanya and Shannon!! I intend to break the cycle for sure with my hopefully future kids!
    • Shannon Ryan
      Sunday, May 4th, 2014
      Thanks, Anna! I have no doubt you will break the money taboo cycle with your future kids! :)
  12. Sunday, May 4th, 2014
    Wow, those stats on financial literacy and poverty are really telling.
    • Shannon Ryan
      Sunday, May 4th, 2014
      Yes, they are. It wasn't terribly surprising and another reason why we need to make financial literacy a priority in the home and schools.
  13. Saturday, May 10th, 2014
    Thanks for sharing this great graphic. I think at it's core we can all see that responsible money habits really start from the home and with the parents. Everything else is secondary.
    • Shannon Ryan
      Sunday, May 11th, 2014
      You're welcome. It does start at home and we have a responsibility as parents to help our kids build a healthy relationship with money. Thanks for stopping by and commenting!
  14. Tuesday, May 13th, 2014
    Great infographic! Well, I'm the second born child in our family, and I read an article before saying that second borns tend to be rebels, and I currently think I'm a way better money managers than my parents ever were. Having parents who are not fond of talking about money motivated me to look for answers to my money questions online where I was able to better my financial literacy.
    • Shannon Ryan
      Tuesday, May 13th, 2014
      I'm the oldest, so now I'm trying to decide if my younger sister is a rebel. :) It's great that even though your parents didn't talk much about money that you took it upon yourself to get educated. Now when and if you choose to have kids, you'll be comfortable talking to them about money.
Shannon Ryan SHANNON RYAN, CFP®
  • Meet Shannon

    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan
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