As you all know I am a huge proponent of financial literacy and I also believe that you should start teaching your children financial responsibility at an early age. We have always talked about money, financial responsibility, and the future with our girls…in fact, I can’t even remember when we started. Probably at birth. I know people who, as adults, are struggling with financial independence and responsibility; I have seen the toll this takes on them, personally, as well as on their families. I don’t want that for my girls, so when T. Rowe Price approached me and asked me to help them gather some information about how families are teaching financial responsibility and offered me the chance to give a Flip cam away to one lucky reader, I jumped at the chance!
Talking with children about saving and spending wisely is perhaps more important than ever, that’s why T. Rowe Price collaborated with Disney to create The Great Piggy Bank Adventure®. Through the online game and interactive experience at INNOVENTIONS at Epcot® at the Walt Disney World®, T. Rowe Price wants to help parents talk with their kids about money and good financial habits. Please take a moment to learn about it, maybe you can even use it as a teaching tool with your children!
Personally, Jon & I try not to go into specifics about our financial situation with the girls, but we are honest. If we can’t afford something we tell them, or if something is outrageously expensive I try to break it down in a way they can understand. For instance, if one of them wants to participate in an activity that will cost thousands of dollars I try to explain that with the same money we could go to the beach or Disney World, for example. It’s important for us, as parents, to not scare them with financial truths, but to help them better understand the situation in terms they comprehend. In our family we talk consistently about the importance of saving for the things we want, ie: that trip to Disney, or the iPod, or even a new outfit. We want our girls to understand that you save for the things you want after you have paid your bills, or been responsible with your finances. Do you talk with your kiddos about money? Or is it taboo in your family?
Want to win a NEW Flip camera? Here’s all you need to do to win
Post your answer to one (or more) of these questions in the comments:
Each answer counts as a new entry, so you can answer them all if you want!
- Do you think it’s appropriate to discuss your family’s financial situation with your kids?
- If so, at what age should you talk to them about family finances?
- Was the topic of money “taboo” in your family growing up?
- If so, how have you overcome that “taboo” with your kids?
- At what age do you start introducing financial concepts such as saving and spending or inflation with your kids?
- What advice would you give to other parents trying to use every day moments to teach their kids about the importance of saving and spending wisely?
I can’t wait to read your answers and to give one of you a Flip camera!!
I will be using random.org to choose a winner Sunday, July 24th, at midnight, so hurry!!
Disclosure: “A gift card and the Great Piggy Bank Adventure-branded Flip camera have been provided courtesy of T. Rowe Price. T. Rowe Price is not involved in or responsible for the outcome of this giveaway.”
Like what you read? Try these!: