Money Makeover Monday Part IV: Bring the Whole Family On Board
Written by Jessica Swesey of LifeTuner
We moms understand the importance of unity when it comes to our families. If one kid oversleeps, it can set off a chain reaction that causes each sibling and parent to be late for school or work. One runny nose and the next thing you know the whole family is down for the count. And so on and so on…
In your pursuit of a money makeover, you're eventually going to need to bring the family along for the ride. One kid may need just a little trim of the bangs, while the other needs the works: new shoes, new jeans, a haircut and a new outlook on life. Whatever the situation, it's important to talk to your kids about money and make them part of the family discussions. You'll thank yourself and they will thank you later in life.
Well, it at least doesn't have to be as bad as you may be thinking… handcuffing the kids to the dining room table while you lecture about the difference between a 401(k) and an IRA. No, it can be a lot easier and fun.
Denise LaBuda, founder of MoneyWizdom, a website that helps parents teach their kids financial skills that are essential to life (yet not taught in most schools), shares a lot of great ideas for how to teach your kids about money. She offers guidance for everything from dealing with temper tantrums in the store to discussing a parent losing her job to creating fun games.
Have a listen!
Part four of a four-part guest post series by Jessica Swesey who is the Managing Editor of LifeTuner.org, a place to get financial tools, tips and direct access to financial experts who answer your questions online.