Parents and “The Economy”
During this country’s troubling economic times, your family’s finances may often be a topic of dinnertime conversation. Parents, you can use these discussions to help your kids understand money and budgets. You can also help them take steps to prepare for their financial future.
The media frequently reports that the economy is in rough shape and many of us are impacted in some way. Find out what your children are hearing in school, on the news and from friends and answer any questions they may have. Use this opportunity to explain what your family may be doing to cut back on spending and find ways to involve your kids in this process, e.g. Mom explains that when she and Dad take the two kids to the movie theater it costs $34.00 for the tickets, but the kids can choose a movie from the DVD rental box for $1.00. Let the kids do the math and discover that this is a savings of $33.00 for the family. You can take this one step further by using the $33.00 you saved on movies to shop for groceries. When the children see that the “movie money” will buy milk, juice, eggs, yogurt, bread and meat for the family, they really get the idea that smart spending is key to future prosperity.