Talking financial issues with the family is hard when having children in the table. Christy Whitman, a parenting expert says, "You may not tell your kid that money is bad, or there is not enough in so many words, but they learn it through how you feel and interact."
According to Whitman, an author of The New York Times bestseller, "The Art of Having It All: A Woman's Guide to Unlimited Abundance" said, "Money is one of those words that has a lot of charge; and typically, that charge is very negative." Here are some ways on how to have a nice talk with kids about Money, according to Essence.
Have a general conversation about money sooner than later. According to Whitman, if the child is old enough to understand the between good and bad, better to consider introducing the concept of finance in a simple and understandable way. Whitman advised, "Tell them that money is valuable and what it means to you."
Explain them what is the importance of allowance. The easiest way to explain to the children about the money is the value of it and how they supposed to spend it. Whitman advised to buy a piggy bank so that the child knows the importance of saving excess money.
While explaining, better use the right tone so that the child thinks the ways the parent says it. "Parents need to be aware of their own negativity around money because children pick that up," according to Whitman. Explain it the way the child understand it.
According to Dr.Phil, kids today should know how to deal with money in their earlier stage. Parents should explain it same age that they teach their children how to say "thank you" or "please, they should consider the impact of the topic to their children as they grow up.
They should know the dos and don'ts on how they teach their kids about money like, give them more time to appreciate their allowance and how they budget it, and don't be predict the future like telling them that when they are adults they regret it if they don't save. Some parents are having mistakes on how they teach their children about money.
Just like not teaching them how to handle proper allowance, thinking that they can control their children spending, and also allowing their children to hide their problems about money.
