“And at the start of the fiscal year the economy retracted, which lead to a downturn in…” is exactly not how to talk to kids about money! Get on their level, make it interesting to them and relevant, and I promise you have made your job a whole lot easier.
How to talk to kids about money so they listen.
Find an interest, something that will excite your child and is relevant to them (I really can not emphasize this enough), and perhaps most importantly age relevant too. After all, there would be little point in discussing the very real pros of saving a percentage of a monthly salary towards a down payment on a house to a seven year old, who really cant see past the plastic fantastic short lived toy fad they are after next.
How to talk to kids about money in a way that will get them saving
How you talk to kids about money, and how you relate to money as a family is hugely influential to your child. According to Shepherds Friendly research only 24% of parents discuss savings often with their children. Compare this with 32% of parents who want their children to use savings as a down payment for their first house. Food for thought…
Infographic shows how to talk to kids about money by age groups
Providing your child with a healthy relationship and a positive realistic attitude towards money, is one of the most valuable life lessons that we, as parents, can give. Please check out the previous KiddyCharts posts, The most valuable lesson in teaching money to kids and Teaching your kids about money.
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Enjoy!
Helen
Helen is a mum to two, social media consultant, and website editor; and this site is (we think) the only Social Enterprise parenting magazine! Since giving up being a business analyst when juggling travel, work and kids proved too complicated, she founded KiddyCharts so she could be with her kids, and use those grey cells at the same time. KiddyCharts has reach of over 1.1million across social and the site. The blog works with big family brands (including travel) to help promote their services, as well as offering free resources to parents of kids under 10. It gives 51%+ profits to Reverence for Life, who fund a number of important initiatives in Africa, including bringing running water and basic equipment to a school in Tanzania. Helen has worked as a digital marketing consultant (IDM qualified) with various organisations, including Channel Mum, Truprint, Talk to Mums, and Micro Scooters. She loves to be creative in the brand campaigns she works on. Get in touch TODAY!