Thursday, June 18, 2009

VIDEO: Talking to your kids about money

I try as much as possible to share the finances with my daughter to help her understand some of the decisions I've had to make such as why we cook dinner at home rather than go out to eat as often. It's certainly a balancing act - balancing wise spending but also enjoying life. Or put another way, enjoying more with less or appreciating simple things. Next week we're going on a camping trip with extended family. I'm hoping we'll be able to look back and say how much fun we had - what great memories we gained - spending a fraction of the cost of a traditional hotel/amusement park vacation! What's your best strategy for teaching your kids about money?

This video offers some suggestions and reasons why it's a good idea to engage your kids in the money talk:

1 comment:

  1. I try doing the same type of things will my son. Not always sure that I am getting through to him, but last week I had one of those moments where I actually felt like all our hard work might be paying off.

    I took Zach shopping for football stuff and we went to the first sporting goods store and the helmet was $99. They recommended that we could try a used sporting goods store in Naperville. Zach did not have a problem with that at all. We went to Naperville and got the exact same helmet (lightly used) and saved $50, we also got some other equipment there and even though it was not all used, we saved a lot of money. He was totally happy and did not have a problem at all with trying to save some money. It felt good to know that he's a list picking up some good habits.