Hey there! Have you ever paused to consider how our childhood experiences shape our money habits? 🤔 Think about it: did you get an allowance growing up? Or maybe you’re a parent now, trying to navigate the best ways to teach your kiddos about finances. It’s wild to think that by the time kids hit 18, most of our precious time with them is already behind us. So, isn’t it crucial to sneak in those money chats while they’re still impressionable? 💬
Reflecting on Our Words
Honestly, it hits differently when you realize just how much weight our words carry. I remember a moment from my childhood when my dad casually remarked, ‘You’re never going to get it!’ while I was practicing typing (yes, we’re talking about typewriters, people!). That comment stuck with me for years. Fast forward to later, and when I brought it up, he had zero recollection of it. 😳 It’s a prime example of how something we say without thinking can linger with a child – sometimes in ways we never intended. Who else can relate to this?
This brings us to a solid mantra: think before you speak. Just like you’d think before making a purchase, right? Recently, I met Karen Holland, the genius behind GiftingSense.org. She created this awesome tool called the Does It Make Sense (DIMS) calculator. It’s all about helping kids evaluate purchases before they dive in. Seriously, whether it’s a toy, an event, or even a new pet, this calculator prompts kids to consider all aspects of their decision-making. Wouldn’t it be great if we all had that habit, no matter our age? 💡
Allowance as a Learning Tool
Let’s get back to allowances! 💸 What better way for kids to learn about money management than actually handling some cash? An allowance can be a fantastic tool to help them practice making decisions. My friend John Lanza wrote a brilliant book called “The Art of Allowance” that dives into how parents can navigate this topic. Every family has their own unique style, so it’s all about finding what works best for yours. Have you discovered what works for your family?
If you’re searching for a comprehensive guide, definitely check out “The Wisest Investment” by Robin Taub. It’s packed with insights on teaching kids to be responsible and money-smart for life. Imagine the impact we could have if we started having these conversations early on! 🤯
Creating Meaningful Conversations
Now, let’s think about how we can engage with our kids or grandkids about money. Do you have any stories from your life that you could share? Perhaps a good or bad money decision you made? Concepts like saving for a rainy day or the value of waiting to make a purchase can be woven into your next chat. Kids have the funniest perceptions of money! For instance, one of my preschool grandchildren once insisted her birthday bike cost $60,000! 😂
Even using play money can be a fun way to introduce them to financial concepts. Recently, my granddaughter used the DIMS calculator and realized that adopting a new puppy would cost her family around $25,000 over its lifetime. She quickly pivoted to considering a $60 leotard for gymnastics instead, which she could hand down. Smart move, right? 🐶✨
Never underestimate the power of your influence as a grandparent, aunt, or any respected adult in a child’s life. Sharing what you wish you had known earlier can be such a gift. 🌟
Let’s Start a Conversation!
So, what can we do as parents or role models to help the next generation develop healthy money habits? If you had to choose one money lesson you wish you had learned earlier, what would it be? I’d love to hear your thoughts! Let’s keep this conversation going and help each other out. 💬✨
