Watch the video above and talk about it with a group or mentor. Learn more.
If you don't want your kids living in your basement when they're adults, teach them how to be smart with their money while they're young!
Key Points:
- Put your kids to work. At a young age your children understand the concept of cause and effect and that’s when you can start teaching them about the work-money connection.
- Let your kids make mistakes with their money. Let them learn this lesson now with small amounts of money before it becomes large amounts in adulthood.
- Teach your kids to make saving a habit. It is much harder to begin saving once you’re already used to spending.
Quote This:
Love your children enough to let them make their own mistakes while you can still protect and help them. -Dave Ramsey
Talk About It
- What is your initial reaction to this topic? What jumped out at you?
- If you have children, do you currently pay them for chores or jobs? Why or why not? Are there any other times you give your children money?
- Have your children ever made mistakes with their money? Has there ever been a situation where you’ve stepped in to help them out or are there certain times you would choose to intervene?
- What are some ways you can help teach your children about saving?
- Are there any financial issues you struggle with that you worry your children will struggle with too? How can you help them avoid troubles you have had?
- Write a personal action step based on this conversation.
