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Tag Archives: teaching children about money

Are you Setting a Bad Financial Example for Your Kids? 5 Questions to Ask Yourself

making smart financial decisions for your children

    Most parents hope to impart a certain level of financial intelligence to their children. It is one of the most valuable life skills you can pass on to your kids. Telling them is one thing – but what are you showing them? What actions are you modelling? Ask yourself the 5 questions below to work out if you are setting a bad financial example for your kids. You can find more about how to pass on good money habits from organizations like Debt Rescue. Are You Competitive? On the face of it a little competition among peers is a good thing; it motivates you to try harder, be better, achieve your best; but how are you demonstrating your competitive streak to your children? Are you seeing if you can save more this month than last month, or this time last year? Or are you stuck on getting a car that drives your mates wild with envy? See the difference? Do You Have – And Do You Enforce – Financial Boundaries? Saying ‘Yes’ to everything is a habit most adults break out of necessity, but it’s easy to avoid passing this very important message on to your children. Teach ...

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Why I Care About Financial Literacy

As you  may know, April is Financial Literacy Month. I was honored when Shannon at The Heavy Purse asked me to participate in her carnival celebrating this month. Today, I’ll tell you why I care about financial literacy and how it has changed my life for the better. If you are a regular reader, you know that up until a couple of years ago, my husband and I were swimming in debt. We are well educated, productive people. We haven’t had any crazy medical expenses or lost jobs. We simply lived above our means and tried to fill what we lacked emotionally with things. I think we felt entitled to a certain lifestyle because we went to school for a long time and earned good incomes. I also was a workaholic who had become disillusioned with my career path. I believe I spent money to try and make up for the stress and unhappiness I felt at work. We used to get to the end of the month and be out of money. We brought in plenty, but we spent it faster than it was coming in. I can’t tell you how many times I’ve cried over working myself into ...

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