Make It a Family Affair.
Our family called them ‘family conferences’ but when appropriate, include your kids at family meetings about budgeting and spending so they understand the value of a dollar. Most of the money we use currently is on a card, so they don’t see the green stuff when they go to Starbucks and purchase a $9 drink.
Use Visual Aids.
Show them your online account and how you spend your money. It’s ok to have the latest and greatest iPhone, but only if you can afford it.
Let Them Earn.
My first job was babysitting at 13. Teach them that the best job in the world is hard work.
Keeping Up with the Joneses.
Reinforce not to compare yourself to your friends, because there will always be the haves and have nots.
Cash is King.
Carry it or hide it, but it doesn’t mean you have to spend it. Emphasize the importance of savings, even if it’s a bit extra for emergencies.
