Why should you raise financially healthy children?
It is essential that we teach our children about money so that they are able to develop the key skills that are necessary for the management of money. It is one of the many things we do as parents so they are better prepared for the real world.
When they’re young this may seem a long way off, but believe me, time whizzes by very quickly.
Like adults, children experience underlying emotions around money and this will have an enormous impact on their lives and planning for their future. After all, their relationship with money is the longest relationship they will ever have.
If money was just about maths (budgets) life would be simple. But it’s not because we all attached amtions to money.
Besides teaching them the value of money, you are also building trust so that they will come to you first (not their mates) when they need to make financial decisions that will have lasting impact on their future.
As a parent, this may seem a huge task! Stick with it, it will be worth it in the end when you see your children set up for life because of what you have taught them.
And for them, it may well be the difference between a life of struggle and a life of their dreams.
Before you begin this journey with your children, make sure that you are Financially Healthy. If you think that managing your money and achieving financial freedom is just about the ‘numbers’, then download our e-book ‘Spice up Your Relationship with Money. This e-book will help you to evaluate what your relationship with money is really about.
Our e-book, ‘Raising Financially Healthy Children’ includes the following:
- We all have a Money Personality. This is our behavioural style with our money. It doesn’t define us for life, it is just how we are with money right now. If you don’t like your Money Personality, you can change.
- The question of what to teach children about money and when to start.
- The world is changing and there will be more responsibility for our younger generation to ‘pay their own way’.
- Pocket Money: The topic can get quite emotive and there are a multitude of views about how much, when to start and whether or not to ‘pay ‘children to do chores.
- Spending, saving and giving money away.
- The teenage years. When it comes to teaching your teens about money, it’s about responsibility, accountability, consequences and preparing them to leave the nest.