rewrite this content using a minimum of 1000 words and keep HTML tags
For years, we always used cash envelopes for most of our purchases. It worked well to help us stick with our budget, but we slowly moved over to just using our debit cards and tracking everything through YouNeedABudget.
It has worked well, until the other day when I realized it wasn’t working as well as I had thought.
Let me tell you about it…
You see, we’ve been teaching Kierstyn (our 4-year-old) about money. We’ve been talking about how the way to pay for things is to earn money. We’ve been giving her opportunities to do extra chores in order to earn money for things she wants to buy.
Well, there was something she wanted to buy and she didn’t have enough money for it. I told her she could do some more chores to earn the money and she replied, “Or you could just use your card to buy it.”
I realized that she has no concept that my debit card is linked to our bank account which has the actual cash in it. I tried to explain this to her, but I could tell it wasn’t making a lot of sense.
She just thinks that swiping a plastic card means you don’t have to use money to pay for something. And that a plastic card is access to unlimited ability to buy things.
I’m thinking maybe it’s time to go back to cash envelopes for awhile so my younger kids see me using real cash like my older kids did? Or at least make sure I’m pulling out cash to use regularly and having these conversations with the younger kids about how cash, banks, debit cards, and money works.
This story of Kierstyn is why it’s so important that we have conversations with our kids about money as early as possible. It’s also a good reminder that the way we interact with money impacts our kids and how they will view and manage money in the future.
If you want to help your kids learn good money management skills and you aren’t sure where to start (or you just want to make sure you’ve covered all your bases, I put together a free download with 15 Financial Skills Every Teen Should Know.
Whether you have little kids, pre-teens, teens, or grandkids, this resource can help you to make sure you are doing a great job of preparing your kids for the future. I compiled this resource based upon a survey I did with thousands of you all and the most-suggested skills + the skills I felt were the most important that my parents passed onto me and ones that I am so grateful we taught our three older kids.
This free downloadable resource gives you a framework for what to prioritize when teaching your kids about money and also some practical suggestions on how to help your kids have life-changing mindsets around money.
Inside this free download, you’ll learn:
Where to even START with having conversations about money!
The financial basics most teens aren’t learning in school.
The #1 habit that separates financially successful young adults from those who struggle.
Why teaching your teen about money now will save them from common financial mistakes later.
PLUS, you’ll also learn 5 Money Mindsets that can *literally* CHANGE your teen’s future!
If you’ve ever wondered, “Where do I even start when it comes to teaching my teen about money?” — this freebie is for you!
Go download it here for free! (And psst! When you download it, you’ll get a special offer for our brand-new product to help teens learn budgeting and better money management skills!)
I believe so strongly that one of the greatest ways we can impact the future is by the way we teach and mentor the next generation — and that’s why I’m creating these tools to help you!
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this
Source link
