| |
Subject: |
Money Talk: The 10 Best Things You Can Say to Your Children about Money |
| Date: |
2008-12-08
|
|
Money Talk: The 10
Best Things You Can Say to Your
Children about Money
Thomas Haller and Chick Moorman
www.personalpowerpress.com
Many parents do not know how, do not want to, or lack the communication
skills necessary to talk to their children about money in general. So
when a money crisis develops, the potential to pass fearful and
negative attitudes towards money to the next generation increases.
How effective are you at talking about money? What words do you use
when you talk about money in front of or directly to your children?
Below you will find a list of the ten best things you can say to your
children about money. Use it to gage your money talk skill level.
10 Best
- "It's allowance time. Everybody get your envelopes!" One
of the
main reasons for having allowances is to teach children about
budgeting. The envelope system will help you do that. Children are
concrete thinkers. That means if it is not in their hands, it is not in
their minds. Envelopes will help you make the teaching of budgeting a
concrete process. Label envelopes with several budget areas, including
savings, investment, charity, and spending. Children can divide their
own allowance by placing the amount of money they choose in the
appropriate envelopes.
- "I'm willing to pay part of it." This phrase is useful
when your
child wants something that exceeds the budgeted amount you had
earmarked in your budget. If you had $80 set aside for sneakers and
they want a pair that costs over $100, this sentence defines your
limit. It also invites the child to take responsibility for coming up
with the difference. It curbs feelings of entitlement and allows
children to take ownership for achieving their desires. In addition, if
some of their money is invested in the article, they are more likely to
take care of it.
- "Did you bring any of your money?" This money talk
question is
helpful for those situations where children ask impulsively for things
while you are shopping. It helps them to see that they need to have
forethought in the money purchases they make.
- "The car needs to be washed. What do you think that's worth?"
The
purpose of a child's allowance is so they can learn how to spend, save,
and use money. If they want or feel they need more money than the
allowance provides, there are additional ways to get it. Doing out of
the ordinary jobs around the house, over and above their normal chores,
is one way for them to earn additional income. This will help them
internalize the concept that if they want more they can work more.
- "Help me figure out the tip." This type of money talk
helps
children in several ways. In addition to providing a real life example
to use basic math skills, it also gives children the awareness of the
cost of the meal so they can appreciate what is being provided for
them. Learning about tipping also gives children the message that being
appreciative for the service provided is expressed in the form of a
tip.
- "Oh, I think you gave me the wrong change." Allow your
children
to overhear you telling cashiers or waiters when the change is
incorrect. If you were short changed it models sticking up for
yourself. If you received too much change, your words demonstrate
honesty and communicate integrity around money.
- "Our charity jar is almost full. What should we do with the
money
this time?" Teach the charity habit by contributing to a charity
jar
regularly at allowance time. Set a goal as a family as to how much you
want to accumulate during a specific time frame. Watch as the jar fills
up with the individual family contributions. Decide together where to
donate the money. Give your children opportunities to have input on
this important decision.
- "Wow! I found a quarter. The money just keeps on coming."
Money comes to us in a variety of ways and in
unexpected times and places. Finding a coin on the ground is a sign
that the universe is continually active in providing money for those
who are open to receiving it. Stay open and allow the Attraction
Principle to bring you money even in the smallest of ways. It is a sign
that more it is on the way. Appreciate what you receive verbally so
that your children can hear your gratefulness.
- "Bummer. Sounds like you have a money problem. What can you do
about it?" This piece of
money talk communicates to children that the current money problem they
face is their problem. It informs them you will be the supportive
listener, but not a rescuer. With this style of language, you also
remind yourself that there are times when allowing children to
experience the consequences of their actions and choices is the best
way for them to learn.
- "You don't have to wait until you're a grown-up." Children
can make
money, own a business, save money, invest in the stock market, and give
to charities. Money is not just for adults. It is for anyone who has
parents that are willing to help their children become financially
literate.
Chick Moorman and Thomas Haller are the authors of The 10
Commitments:
Parenting with Purpose. They are two of the world's foremost
authorities on raising responsible, caring, confident children. They
publish a free monthly e-zine for parents. To sign up for it or to
obtain more information about how they can help you or your group meet
your parenting needs, visit their website today:
www.personalpowerpress.com.
Permission granted for use
on DrLaura.com.
Back
|
|
