August is “What Will Your Legacy Be” Month.
What does “legacy” mean? This is “what someone or something is remembered for, or what they have left behind that is remembered and revered.”
During What Will Your Legacy Be Month, time is set aside to reflect on past and present actions and vows are made to make positive changes that will affect future generations.
We have to remember the seeds, whether positive or negative, we plant in our children’s lives. This is the month to concentrate on making the right choices so our children and their children will make the right choices. What seeds of yours are sprouting in your children?
Are the seeds sprouting in your children, seeds of promotion or seeds of destruction? Are the seeds something that you can be proud of or will the seeds bring pain to you and/or others? Be honest, for the bottom line is that the seeds will sprout and reflect your teachings.
Don’t just watch your children grow! Let them watch you grow into the best possible money savvy person you can be! Children learn more by what they see than by what they hear. ;o)
I believe in entrepreneurial skills and creative thinking when it comes to kids and money. I believe we should foster financial independence by helping and guiding our kids to find kid-friendly, creative ways to make money.
It is our responsibility to make sure all our kids are firmly on a financial path to success. SOOOO, teach your children well so that they grow into money savvy young adults. ;o)
This month you can host a “Legacy Money Party” and play a game called “Legacy Money Circle.”
First, sit around in a circle with your kids (or lounge on the sofa and comfy chairs in your living room). Make sure you have some fun food and refreshments. Eating and talking go hand in hand! ;o)
Begin by telling your kids what you think money is. Regale them with stories about how you first managed your money, the lessons you learned, and how you now handle your money. Then give your kids a chance to talk!
Let them tell you about their money struggles and how they solved their money problems. Listen to their understanding of what money is and how money is to be used. You’ll be surprised at what kids think about where money comes from.
Encourage them to think about earning their own money rather than be given allowances. Money, in my humble opinion, should be earned, not given. ;o)
Here are five tips to remember in creating a good money legacy:
- Treat money with respect. Money is not grown on trees! Money has value, not in and of itself, but by the way it is used.
- Character is doing the right thing, even when no one is looking. Pay for what you buy. Give back the right change.Don’t cheat yourself or anyone else.
- Even though it may be difficult, toss away any “could haves”or “should haves.” The past is the past. Stop reminding yourself what you could have or should have done. Start this very day to live a life of money accountability.
- To err may be human, but stop using this as an excuse to do the “wrong thing.” So, last week you forgot to give back that dollar you borrowed? It’s not too late to give it back this week!
- Be about it, rather than just … talk. Anyone can talk about earning, investing, donating, saving and spending money wisely. Do something … divide your money in different ways.