Part III: Teaching your children to be financially wise
3. Family stories can teach volumes.
Along with teaching your children sound financial lessons, talk to them about the struggles you experienced in your early adult life. Most of us lived through those times, unless of course, our parents were extremely wealthy and provided us with a trust fund.
Your first apartment, as with mine, was probably furnished using hand-me-downs from family and friends. The local Goodwill and garage sales helped me fill in the household items needed to make life as comfortable as possible. Dinner could be mac n’ cheese, hot dogs, or a cheap frozen dinner. Tales of your first car held together by duct tap, fishing line, and many prayers. Even stories about the struggles experienced by grand parents, aunts, uncles and cousins can bring home a lesson they could carry with them their entire life. There are as many stories as there are personalities in the world and as varied. Sharing your past can be a time of laughter, conversation, and closeness with your children.
Going through this experience can be enjoyable and challenging at the same time. This is not brought about by wrong financial decisions, but merely a progression of life from graduating college, starting a career and gradually moving up to a better salary and job advancements. Let them know it is ok to live within their means and not to have the large home, new car and vacations early on. These luxuries will hopefully come, but they need to be patient and content with what they have and where they are at in their lives.
Watch for part IV coming soon.
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
Along with teaching your children sound financial lessons, talk to them about the struggles you experienced in your early adult life. Most of us lived through those times, unless of course, our parents were extremely wealthy and provided us with a trust fund.
Your first apartment, as with mine, was probably furnished using hand-me-downs from family and friends. The local Goodwill and garage sales helped me fill in the household items needed to make life as comfortable as possible. Dinner could be mac n’ cheese, hot dogs, or a cheap frozen dinner. Tales of your first car held together by duct tap, fishing line, and many prayers. Even stories about the struggles experienced by grand parents, aunts, uncles and cousins can bring home a lesson they could carry with them their entire life. There are as many stories as there are personalities in the world and as varied. Sharing your past can be a time of laughter, conversation, and closeness with your children.
Going through this experience can be enjoyable and challenging at the same time. This is not brought about by wrong financial decisions, but merely a progression of life from graduating college, starting a career and gradually moving up to a better salary and job advancements. Let them know it is ok to live within their means and not to have the large home, new car and vacations early on. These luxuries will hopefully come, but they need to be patient and content with what they have and where they are at in their lives.
Watch for part IV coming soon.
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
posted by Academy National Mortgage at 8:45 AM
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