Teaching your kids to be financially responsible

If there’s one thing I have never been, it’s financially responsible. I will be totally honest with you….I’m a spender, not a saver. In our house I’m in charge of paying the bills and I definitely get that done, but we sure don’t end up with a lot of extra. Part of that is, I admit, my spending habits with Ella. I love buying her clothes and getting her treats, but am realizing that I am not teaching her about financial responsibility.
So to avoid winding up with a “little Heather” when it comes to money, I looked to the experts for some advice on teaching financial responsibility to my kiddo. These days it can be tough because we don’t use actual money the way we used to. Technology has made paying for things as easy as the swipe of a card or the transfer of money through online banking. So how does that translate to kids?
Here are some great ideas on how to get your kids involved in family finances and teach them how to be responsible. One of the first is: make sure money isn’t invisible to your kids. This means speak openly about finances when possible ― like their budget, for example ― to encourage questions from their kids and to set them up to be better prepared in their financial future. It also means taking a minute after swiping your debit or credit card to explain that the little thing in your wallet is not the source of limitless money. Money conversations with kids are opportune times to discuss the difference between “what you need to have to function in life and what you want to have in life.”
Check out this article for other great tips.