MSN Money asked, Did Your State Flunk Personal Finance? in a recent article. And sadly, the answer is yes for me. California was one of the 11 states to receive an “F”. It continues to sadden me to see how financially illiterate our children are and scares me to know they will soon be navigating the financial world on their own.
The question I am frequently asked is when should parents start start talking to kids about money? The answer is right now. You should start talking to them about money today.
I started talking to my girls when they were around three years old. Sometimes I receive pushback from parents who argue their kids too young to understand the subject matter. And they are right—young children won’t fully comprehend everything you say, but they pick up more than you think they do.
They are particularly sensitive to your emotions. And money is emotional. So whether you’ve been intentionally teaching them or not, young children have already begun forming beliefs around money. Bring your children into the fold now and help them develop a healthy relationship with money, so when it is time for them to head out into the world, they are equipped with the tools to thrive.
I want to thank Frugal Rules, Mom and Dad Money, Sense and Sensibility, Budget and the Beach, The Frugal Farmer, Luke 1428 and Stacking Benjamins for mentioning The Heavy Purse. I appreciate your support! If I missed you, please let me know.
Now onto some of my favorite posts from this week. Enjoy!
Sicorra at Tackling Our Debt shared 5 Dangerous Money Mistakes. These are dangerous mistakes and very common ones. Be sure you’re not making them too.
John at Frugal Rules asked What’s a Favorite Thing Money Has Allowed You to Do?. I believe money is meant to be enjoyed responsibly, and like John, I use my money to create memories too.
Laurie from the Frugal Farmer had a great post on How To Teach Your Kids about Money on Economag. Great tips, especially teaching your kids that Mom and Dad are not money trees or ATMs. Sadly, I see this all the time.
DC at Young Adult Money highlighted The Dangers of Making Money Your Top Priority. There is a balance between being money savvy and money obsessed. I prefer to fall on the side of being savvy and making smart choices with my money.
Kerry at Breadwinning Mama decided to take the high-road (and right road) in Seeking an Answer in the Mommy Wars Media – Not I. It doesn’t matter to me whether you’re a working mom or dad or a stay at home mom or dad. We should all be united in our common goal to do what’s best for our kids.
Well, that’s a wrap! I hope everyone has a great weekend!
The Heavy Purse Store is now open! My new downloadable Money Club Workbooks—based on age or level of expertise—are now on sale. Each workbook provides five targeted lessons to help you grow Money Smart Kids. Please check them out in The Heavy Purse Store.
SHANNON RYAN, CFP®
Have a great weekend my friend!! :-)
My grandson is only a year old but I've already told her to include teaching him about money as she starts to teach him things like manners and tying his shoe :).
You've got a great list of posts to read. I read Sicorra's and it was great. I'll have to check out these other great bloggers you've shared.
Have a great weekend!