Watch the video above and talk about it with a group or mentor. Learn more.
If you don't want your kids living in your basement when they're adults, teach them how to be smart with their money while they're young!
- Put your kids to work. At a young age your children understand the concept of cause and effect and that’s when you can start teaching them about the work-money connection.
- Let your kids make mistakes with their money. Let them learn this lesson now with small amounts of money before it becomes large amounts in adulthood.
- Teach your kids to make saving a habit. It is much harder to begin saving once you’re already used to spending.
Love your children enough to let them make their own mistakes while you can still protect and help them. -Dave Ramsey
See Also: Parenting, Money
Talk About It
- What is your initial reaction to this topic? What jumped out at you?
- If you have children, do you currently pay them for chores or jobs? Why or why not? Are there any other times you give your children money?
- Have your children ever made mistakes with their money? Has there ever been a situation where you’ve stepped in to help them out or are there certain times you would choose to intervene?
- What are some ways you can help teach your children about saving?
- Are there any financial issues you struggle with that you worry your children will struggle with too? How can you help them avoid troubles you have had?
- Write a personal action step based on this conversation.