Moving Forward: Teens and Parents
A penny saved
If you look around, you could say that our society excels at instant gratification. We can contact anyone, trade information, exchange money and buy products in mere seconds.
In the media, everything is newer, bigger, better, bolder and available now! Is it any wonder our kids go about getting things the same way we do?
It’s hard to teach the value of saving when we live in such a fast-paced and, some would say, disposable world. But learning to save can be a beneficial lesson for kids and one they can carry with them throughout the rest of their lives. That is, if they’re willing to listen.
You have a lot to compete with when trying to get your child’s attention, and then to talk about saving money? Yuck! Why save when it’s so much more fun to buy?
If you’re having a tough time talking to your kids about saving, try these tips to get those conversations going:
- Talk...don’t tell. As parents, you tell your kids everything. You tell them what to do and how to do it. You tell them where things go, how they should dress, how they should behave. In most of the messages you send them, are you telling them something? Talking is a dialogue. Your kids may be more open to an exchange versus a directive.
- Ask questions. People, even younger people, don’t appreciate hearing what they already know. Try asking your kids questions about money and saving to see how they view these topics and what money means to them. It will help keep a dialogue going and give you a better idea of where to go with your conversations.
- Listen. Kids are people too. And while they may grow up in your house under your guidance, care and influence, they’re going to have ideas of their own; ideas that might conflict with yours. That doesn’t mean they’re wrong. They’re just coming at things from a different perspective. Listen; being receptive to what they have to say will benefit you both and can help with future talks down the road.
- Make it fun! Saving may never be as fun as spending, but it can be fun and gratifying to watch your money “grow.” Talk about different ways you can track what money comes in, where your child puts it and how he/she might want to spend it. Develop a chart showing money needed to buy something and mark off the progress you make.
People generally want to give their kids everything they can, be it toys, opportunities or education. The reality is we can’t always get what we want the moment we want it. Talking to your kids about saving money helps teach them the value of money, how money works for them and a greater gratification in getting something they’ve earned.
This article is provided for general, informational purposes only and is not intended as advice specific to your situation.
