Home » Finance » Credit

How Your Financial Management Affects Your Kids

Jul 12, 2008
Children are great imitators, learning by what they see other people, especially their parents, doing. Children also learn how to care for financial matters by observing what their parents do, so setting a good example will help them later on in life financially.

Children who spend money without considering what consequences it could bring are usually raised by parents that act the same way. It would not be wise to teach children that money is simply a means to an end. Instead, emphasize that money is important for physical necessities like food and shelter but is not the most important thing in life.

The respectful use of money will help ensure that money is always available when necessary. Money problems are the main cause of arguments for married couples, and parents with differing backgrounds will usually have even more difficulty seeing eye to eye financially. In order to prevent children from being affected by such issues, parents need to come to an accord on how they will care for money matters as a family.

Parents have not all had great examples of how to save money in their pasts to look to, and learning to do so does not happen overnight. Reading books or taking classes on money management can help end bad financial practices and will also influence children in positive ways when it is shared with them, perhaps at family meetings.

If the family doesn't have a financial plan, start one. Gathering the family together to do this is another way to include children in financial decisions. Being part of a family meeting shows children the role money plays in the home. Family meetings can be a place to voice any concerns about money and to find answers together.

My parents never had excess amounts of money while I was growing up, and I spent everything I made on stuff I wanted when I started working. Despite working hard, I spent my earnings in an effort to not feel like I was missing out on anything.

When I became an adult, these same practices presented me and my family with financial difficulties. Although my parents were not wrong, they could have been more right by allowing me to be part of financial decisions or at least talking to me about money more. I just had to go with what I saw as the truth about money.

Teaching children about money is certainly preferable to simply leaving them alone to figure out financial things. Let children be part of conversations on big financial adjustments in the family so they know how things will be handled. This does not mean, however, that children have to know about every little decision you make regarding money.

Childrens view of money can definitely be affected by how their parents choose to handle it, for better or for worse. It is important to remember that kids are always watching, so let them see good financial practices that they can learn to imitate.
About the Author
Is your debt stressing you out? Do you have a list of things you'd like to do if all your money didn't get sucked up by your debt payments? Learn how you can legally eliminate debt on the Debt Smackdown website.
Rating:
Please Rate:
(Average: Not rated)
Views: 144
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources