Despite this, many parents and grandparents are very hesitant to talk about money with children. For some, the topic can be just as taboo as the birds and the bees.Yet, many parents and grandparents say they want to pass good money habits along.
For many, the hesitation comes from having made money mistakes in the past or the mistaken idea that they have to be a financial expert to discuss money with their children. For others, it's simply not knowing how to dive in and engage young people in a money conversation.
It's easier than you think!
Here are four thought-provoking conversation starters you can use to jump start the money talk with young people of almost any age. These can open up an ongoing dialogue about some of the most important financial lessons to share with your children and grandchildren.
"If you really want your children to have good financial habits in the future, you can't afford to not talk to them about money now. Remember, it's never too late to get the conversation started."
Money conversations can be hard. Have them anyway.
If you really want your children to have good financial habits in the future, you can't afford to not talk to them about money now. While it's best to start when children are young, remember, it's never too late to get the conversation started.
Even if your children are going off to college or having children of their own, there are still important money lessons to share, from shopping for loans to retirement planning and more.
Talking to children about money is crucial.
It doesn't have to be a struggle.
Although money talks with kids can be tough, they don't have to be. Approaching these conversations in the right way can make all of the difference.
I've got a lot of experience working with families and young people, teaching them good financial behaviors and setting them on the road to great financial habits.
If you need some helpful advice on teaching children important money lessons—or if the young ones in your life could use a professional perspective, please reach out to me.
I'd be happy to discuss this topic more and share some helpful advice. Give my office a call at 602-529-2728 or shoot me an email at firstname.lastname@example.org.
Steven Chau, CFP® Know Your Worth Financial
P.S. Want even more great conversation starters (and some money-related activities you can do with kids of all ages)? Continue the conversation over email by signing up (my subscribers get my best insights).
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