Can You Indulge Your Kids and Still Teach Them to be Responsible About Money?
by Jean Chatzky – from Oprah.com
“Whether you’ve got a toddler or a teen, teaching kids how to spend and save money is one of the most important jobs you’ll face as a parent. The lessons you impart now can have a huge impact on how hard your child works, whether or not they get into debt and how well they can budget and plan for the future.
If recent surveys are any indication, kids can use the help. Few kids age 12 to 21 understand even basic financial terms, according to Phoenix Student Fiscal Fitness Survey. Only 12 percent could define the word budget.
But kids certainly know what they want when it comes to money—they want more. Our consumer-driven society teaches them that material things will make them happy. As adults, we know that’s not true, and it’s our jobs to make sure our kids understand that. Of course, a little overindulgence is perfectly natural, especially among this generation of super-involved parents. If your kid routinely wants the next great toy, video game player or trendy pair of shoes, and then grows tired of whatever it is they just bought within a few days, that’s a sign you’re erring on the side of spoiling them.
What can you do to help your kids avoid this fate? These two easier-said-than-done rules of parenting can be the keys to success.”
I hope you’ve found this interesting and the statistics eye-opening!
Cheers…..Amanda van der Gulik….Excited Life Enthusiast!