ay a board game. But, in the long run, this can cause bad habits and leave permanent and unforeseeable emotional and behavioral scars for both parents and their offspring.
- Keep Up With the Joneses
Jealousy, the thief of joy. The antithesis of gratitude. Unfortunately, it’s a primal emotion that can be a challenge to keep at bay. But, in order to teach children how to be smart financially, it’s something that needs to be removed from the equation (see what I did there?). There will always be someone who has a bigger and better car, house, outfit, etc. and teaching children that it doesn’t matter can save a lot of heartache—and likely debt—along the way.
Parenting is hard and for many so is managing their finances. Put the two together and it can be a toxic mix. Thankfully, there are ways to avoid a future financial train-wreck and all it takes is healthy communication and discipline. Your children will copy your actions, so if you embrace sound financial choices everyone will emerge a winner.
Carlie Velasquez is a working mom of five—yes five—little hellions-that-she-loves-with-all-her-heart. From her own experience with her parents to now being a mother herself, she’s learned all the dos and don’ts of her brand of good parenting.