Teaching Kids about Money – Part 5
by Michelle Lambright Black
Today we will be covering one final tip on how to effectively teach your children about money, helping to prepare them to be financially responsible adults. Don’t forget, you can check out our blog archives for parts 1-4 in this series.
Lesson #5: Lead by Example
We believe this is the most important tip of the week, that’s why we have saved it for last. Children, whether they be young or whether they be teenagers, are usually excellent observers. Your child will learn more from your example than they will learn from anything else you teach them. Therefore, if a child sees their parents making unwise financial decisions, such as racking up excessive credit card debt, buying homes and cars they cannot afford, and failing to save for the future, the child will learn to accept this kind of behavior as the norm.
If you have been guilty of making poor financial choices in the past then now is the perfect time to change. Beginning today, you can help to erase any bad examples in spending that you may have set for your child before. By establishing a sound monthly budget now you can begin to teach your children how to handle money more effectively.
If you have any credit issues you may be facing or if you need assistance establishing a working monthly budget for your household please contact HOPE today. Our specialists would love to assist you. You can reach us at 704-499-9696 or you may email us by clicking on the following link: http://hope4usa.com/contact-us-2/. We can’t wait to hear from you!