Blog for writing campaign for AWAI
11/6/24
"This is What You Need to Teach Your Kids About Finances!"
Let’s face it: most of us, no matter how much we hate to admit it, repeat the mistakes of our parents. You know what I’m talking about! We even make those internal vows never to repeat some of the things we disagree with. For me, one of the things I vowed was that I would never be broke like them or that I would never make poor financial decisions like them. Well, here I sit in the one-bedroom loft I share with my teenage daughter because of my poor financial choices! However, we can now teach our kids about finances, so they won’t repeat our mistakes.
As I mentioned, I have a teenage daughter, and I have concluded that the earlier I teach her about finances the better. I have already modeled some poor financial behavior, so I have zero time to waste. You might be in a similar position or be great with finances but don’t know how to teach your kids about money. I don’t just want to unravel the mess-ups she has seen; I want to give her a healthy head-start on positive mindsets concerning money.
I know you all want what is best for your kids just like I do. I also know many of you are confused and or overwhelmed with how to provide ALL your kid’s needs. This feeling can also be found when considering how to teach your kids about money. I know for me, I just don’t know when to find the time for one more time-consuming thing. There is so much for us to do each day between work, homework, carpooling, sports etc. I shudder at the idea of one more thing. If only there were a company that understands our dilemma as parents. A company that offers a stress-free and even enjoyable way for kids to learn about money.
Here is another issue, my daughter does not like to sit still for long, especially if it involves learning something new. The last thing I want to add to my stressful day is a cranky teen who resists coming home from school to learn even more! Does this sound familiar?
According to an article on Annuity.org, “41% of teens don’t know what a 401(k) is, and 32% of teens don’t know the difference between a credit card and a debit card.” This is rather terrifying when you consider the fact that kids are accruing debt much younger these days. This is because the credit card sharks throw credit cards at the college kids now! Not to be morbid, but I read a story on Ramseysolutions.com that made me sick and furious at the same time! Dave Ramsey is one of the nation’s premier finance authorities, and he spoke about how wrong it is that credit card companies target these young college kids with no jobs. They are setting them up for failure, and they know it! The article referred to a story in Oklahoma where two college kids drowning in credit card debt committed suicide with the bills right next to them. I don’t know about you, but my kid will not be a statistic! I will take ownership of my own mistakes and not allow embarrassment or shame to keep me from speaking up about the topic of finances.
Here is what I feel every parent should consider.
*Finances are just as important a topic as responsibility, safety, and manners.
*We can carve out the time to teach our kids about money
*We can use this teaching time to spend time with our kids in an interactive way.
Please don’t take my word for it. CLICK HERE for your free guide and see how fast you fall in love with this program. My daughter is the biggest fan and does not need me to tell her to log on. I usually ask her to wait for me because I don’t want to miss a thing. Be careful, though. Before long, you might just find yourself learning things for the first time as well. So, what are you waiting for?