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Practical Money Matters Radio Series

October 24, 2011
Get Your Kids Involved in Family Finances

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Find out how involving kids in family financial discussions can help them learn the importance of budgeting and saving.

Transcript

Do your kids sometimes make you feel like a human ATM? Like they don't have a clue where the money comes from? Maybe it's time your kids got more involved in the family budget.

How? Show them the bills. They'll probably be shocked to learn how much you spend each month on housing, utilities, food and other expenses. Make them part of the decision-making process when you go shopping. Tell them, "We've got this amount to spend on food this week. What should we buy?" Explain how price comparisons and coupon clipping can stretch your dollars. And show them how to make a budget for their own spending.

Bottom line: Sharing your financial values with your children is a lesson that will last them a lifetime.


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