6 Tips for Unstoppable Moms
I wrote this post as part of my participation in a blog tour for The Motherhood on behalf of the makers of Children’s MOTRIN® and received compensation to thank me for taking the time...
When my kid were old enough to understand money and as they were learning about it in school, we took them to open their very own savings accounts. Did you know that it’s never too early to start teaching your kids the skills of saving and budgeting and other money basics? As parents, the sooner we start having regular conversations about money with our children, the more effective we will be in raising financially responsible adults. This is a huge goal for both my husband and myself.
Taking each child to the bank has been one of the most memorable things to them so far. They loved opening their accounts and they love keeping track of them with the statements that come to the house each month.
When we go out to dinner, we break down the bill and say that “Dad or Mom had to work __ # of hours to pay for this.” We always let them know exactly how much something costs and what the value is to our family in terms of money and time.
When each child wants to buy something, we ask them to think about why they want it and what will happen once they get it home.
We have savings and money market accounts. We put money into them each month and we let our children know how much we are saving. Demonstrating good financial habits for parents is key to raising financially responsible adults.
Trips to the grocery store, attending a sporting event, getting money from the ATM, and planning family vacations are just a few examples of opportunities for parents to reinforce financial lessons.
As a parent, I feel that we need to talk to our kids almost daily about money matters. I really want my children to understand the value of a dollar and I am determined that they will grow up to be fiscally responsible. We don’t want finances to be taboo so our children are welcome to ask us anything at any time about our finances.
Join us for the April 15 Twitter Chat at 8:00 pm EST for the chance to talk to Scholastic Parent & Child editors and a certified financial planner that specializes in education.
Disclosure: I have been asked by T. Rowe Price and Scholastic Parent & Child magazine to participate in this program.