Teaching your kids about money…Without boring them to death.

Here’s the thing, kids think you are boring. I have a 16 year old and if I talk too much she smiles and nods with those glossy eyes, paying less attention to me than my wife. So how do you get through to them on a topic so important as money? Here are some tips that I also included in a video on our YouTube channel.
1 -Leave your emotions out of it. As a financial adviser at JazzWealth I work with people all the time that are ashamed of how much they have saved for retirement. They feel bad, and behind the game. Kids are smart! They can pick up on this shame, and emotion. Don’t let your feelings about money pass on to your kids. Give them a positive start, letting them know what you wished you had done sooner, but how you are excited and determined to do better going forward.
2 -Open up about everything money related. My daughter knows how much I make, as well as her mom. She knows what the electric bill usually runs, what gas costs, insurance, lawn maintenance…You get where I’m going? We don’t have to sit and play a board game with kids to teach them about money. By opening up and quickly mentioning what things cost, they will put it together over time.
This is not to say that you make them feel bad about what things cost, just a quick peek at a receipt, or quick mention of what a hotel room costs when your on vacation. Again, do this quickly and move on.
3 -Choose one, specific moment to “teach”. Kids are being “taught” all day at school. The last thing they want is to have you teach them more about stuff they are not interested in yet. IF you follow #2 then at some point your child will ask a question about money or what something costs. Consider that your moment to go into more detail and “sneak teach” them something new. When that moment comes you have a small window to teach them something new. Do it right and more questions will follow over time.
