Fiology Lesson tackling the topic of teaching our kids about money.

LESSON 18 : KIDS AND MONEY

Be kind to others…say please and thank you…max out your Roth IRA? Imparting lessons of financial literacy isn’t normally at the top of our parenting priorities. Today, with so much competition for our children’s attention including social media, television, games, and friends, it is important that our messaging is heard and valued. One major message for our children should be that they are expected to grow into financially responsible adults. And since most education systems are failing at delivering this message, we parents must succeed. Whether our children are five, sixteen, or twenty one, this lesson will help us encourage our children to become capable of achieving Financial Independence.  

Read:  Raising a money-smart kid  by Doug Nordman of the-military-guide.com

Watch:  How to Raise Kids Who Are Smart About Money  by Rachel Cruze of PragerU on YouTube

Read:  Kids On A Budget  by Doc G of diversefi.com

Read:  CURBING CONSUMERISM WITH OUR KIDS (AND OURSELVES)  by Christina Merhar of raisingsavers.com. Note: this site has a lot of practical useful information regarding MONEY LESSONS FOR KIDS. Exploration is highly encouraged.

Listen:  072R | The Five Most Important Financial Conversations You Need To Have With Your Child  by Brad Barrett and Jonathan Mendonsa of choosefi.com  (content supporting this lesson starts at 34:10 of the podcast)

Listen:  Ep 0018 Richer Soul – Raising Money Savvy Kids with Doug Nordman  by Doug Nordman of richersoul.com

Take Action: Review Doug Nordman’s post above.  Let that be a starting point for putting you in the mindset of shaping the financial education for your child. Develop, with your significant other onboard if applicable, and implement an initial plan for your child that is age appropriate. This is only the beginning. Continuously monitor, measure progress, and introduce new lessons when ready.

Additional Resource For You:

Read:  What I’m Teaching my Son about Money  by Pete Adeney of mrmoneymustache.com

Additional Resource For Your Teen:

Read:  Common Cents Articles  by Eva Baker of teensgotcents.com

Quote: “Though small was your allowance you saved a little store: and those who save a little shall get a plenty more.” – William Thackeray

Fiology.com is an educational resource designed to teach you about Financial Independence (FI). We have scoured the internet to find content from the best and brightest of the FI community and have created lessons covering the critical concepts of FI.

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