In times of crisis, angst and uncertainty, many young people worry about their family’s financial well-being, whether they share that worry openly or not.
Talking to your kids about being financially responsible and how spending decisions are made in your household makes a big impact. A simple way to do this is by connecting the conversation to relevant and actionable everyday moments:
The next time you go grocery shopping invite your child to comparison shop with you and help them identify the best quality for the best price.
As you unpack groceries or open incoming packages, ask younger children to identify which are needs versus wants.
Have older children sort through household bills and calculate the fixed expenses for your household. Ask them to identify opportunities to save.
Have children brainstorm jobs they can do around the house or in the neighborhood to earn some extra money. Discuss how much the job is worth and why.
Use meal times to have conversations about current events to help them understand the importance of saving for emergencies.
Remember that young people gain wisdom and positive habits during challenging times if you keep them involved. For more resources to share with young people, visit myJA.org.
This Teachable Moments for Parents is Supported by SunTrust Now Truist.
