For the past few months I have been contributing to the “Mom Talk” section of the Baby and You Facebook Page. In my last post I discussed Introducing Kids to money. Today I’m going to discuss modeling good money skills.
Given today’s fragile economic state of affairs, now is the time to teach our kids the concept of money. Not only will this be good for children, but us as well.
Allow me to explain.
The world is in a debt crisis because some of us have overspent. Some of this is because of no fault of our own, however we do need to be mindful of how our children see us spend money. For example, if I make $2000 a month and yet I spend $3000 a month, there is a deficit. Children, even from a young age, begin to see how money is used in our households. By simply living by example and letting our children know that “their” home is safe, children will be healthier and more conscious about life in general. It is good for our children to see us as adults save for big purchases. They will learn to appreciate things more if they see that it took time and patience for us to get the longed for item. If we look back several generations, life was about not living beyond our means, but simply survival. Luckily we no longer live in a world like that anymore, but that does mean we can take the “good life” for granted.
Kids by nature want to model their primary caregivers. If we are smart with our financial affairs, I believe our children may follow suit.
What are some ways that you try to model good money skills to your children?
I am a Mom Blogger for the Loblaws Baby and You Facebook page. This post is also being published as a note on their Mom Talk page. Please come by and leave a comment there too!