When you want to teach your kids how to use money wisely, one of the best actions you can take is to make sure you are setting a good example in how you manage your own money. Kids pay attention more than you realize to the way you handle money and will take those lessons with them into adulthood. The final step in the Save, Share, Spend, system is Show: showing your kids how to manage money through your example.
There is always help available to get your finances in order. Mary Rigg Financial Coaches can help you do that, setting a strong example for your kids.
Know Where You Stand
The best place to start is looking at how you manage your money. Are you a blind spender? Are you a great saver? Where is your money going? Knowing where you stand financially will help you make decisions that will ensure you set a strong example for your kids. If you know where you stand, then you can make any changes necessary to put you in a good spot. Everyone has strengths and weaknesses to in how we manage our money and it is important to know where your own lie.
Talk About Money
Money is a conversation that many don’t want to have. Finding a way to talk about handling money with your family without putting unnecessary burdens on your kids will help them in the future. Keep in mind age-appropriate money topics. Discussing debt with your teenager who is about to take out student loans is helpful but discussing debt with a toddler may be too much for them.
Discuss ways you have succeeded in managing money as well as resources that exist openly with your family. Making it a positive conversation can help your kids have a can-do spirit in managing their own money. Make these topics part of your everyday conversations with your kids.
Get The Help You Need
If you’ve analyzed where you stand financially and realize that you need support, options are out there. There are resources available to help you get your money in order. Dealing with money can be overwhelming and getting help to manage it can be intimidating but, by getting the help you need, you set an example with your kids that asking for help when you need it is a good thing. Mary Rigg has financial support and coaching available to help you take steps in the right direction.
Make Necessary Changes
Once you know where you stand financially and you know what steps you need to make positive changes, actively work to make any adjustments you need. Showing your kids how to deal with money means showing them both your successes and how to recover from them. Teach your kids to see each experience with money as opportunities to learn and grow by also doing so yourself.
Showing your kids how to use money comes directly from setting a good example through your own money habits. This means knowing where you stand and working to make any necessary improvements. Actions speak loudly and if your kids see you working to make smart financial decisions, then it will help them to do the same as they grow into adulthood.