I’ve had a lot of parents tell me,
“I’m not very good financially, how can I teach my child to be smart with their money if I’m not very smart with mine?”
This is a GREAT question!
Have you ever heard the old saying, “The best way tot learn is to teach?”
Well, it’s incredibly true!
Just because you have not been very smart with your money in the past doesn’t mean that you must continue along this way.
The fact that you can see that you have not been very clever with your money in the past shows me that you are now at a cross roads. You can see what you have done wrong and are getting ready to change.
Don’t wait until you get a handle on your finances BEFORE you start to teach your child about money, start today!
Sit down with your child and show them how you have made money mistakes in the past. Then come up with a plan of how you are going to change these bad money habits for the future.
Be a role model for your child. And don’t be afraid to show your child your failures.
By showing your child that you are human, that you make mistakes you are actually helping your child to see that it is okay to make mistakes. That mistakes are just life’s way of teaching you something.
I like to think of mistakes as just, “very expensive lessons!”
Now if you make mistakes and don’t learn from them, then you are asking for trouble.
If you begin on your path to financial freedom together with your child, not only will you be setting the best example in the world for your child’s financial success but you will also be really connecting with them at a very personal and emotional level.
This could be the best bonding experience you ever make with your child.
Just imagine, you could be having weekly fiance meetings with your child where you both take turns describing how your week has gone financially.
Set the example, you go first. Tell your child about your week’s financial successes and also about the financial mistakes that you have made this past week along with the lessons that you learned from those mistakes.
Then it’s your child’s turn.
You’re child will be more likely to be open and honest with you if you show that you are being open and honest with them.
Have fun with it. Set a special family game night, where you play the CASHFLOW game or some other financial game together. It’s a great way to open up the lines of communication.
Read books together on finances and then hold your own book club, so you can discuss the lessons together.
But most of all enjoy each moment of learning and teaching your child.
This should be fun!
Cheers….Amanda van der Gulik…Excited Life Enthusiast!
For More Great Money Lessons for Kids read,
“The Insider’s Secrets to Raising a Future Millionaire!”