• 4 Pocket Allowance

As Adults, Do We Have the Key to Money?

Updated: Aug 4, 2019

When I was growing up, I thought all the adults in my life had money figured out. Conversations about money were usually held behind closed doors. My parents did the best they could to hide any disagreements about money to my siblings and I. Looking back, I didn’t really know how much my parents made or what we could and could not afford. I wish that they had been more forthcoming about money. It was simply something we did not talk about.

My spouse and I choose to change this idea and view on money with our own family. We want our children to be prepared for the real world, and in the real world, adults typically don’t have it all figured out. If they do, then it is few and far between. We may be on a correct path but chances are that we still make mistakes. It is important that we include our children regarding financial decisions and discussions. We find that it gives them a realistic and smart view on money. It is our goal to make sure our children are financially literate.

We don’t have it figured out. We have made mistakes but we have also had many success stories. We talk about these things with our children. It is important for us to share with our family what we have learned in hopes that learn from our mistakes as well as our successes. We encourage them to learn these lessons now and make the mistakes early on when mistakes are still small and not as big as adult ones. Making a mistake of spending their money on a cheap toy that breaks is an easier lesson to handle than spending a lot of money on a flashy car that breaks down months later. There is more at stake when we are older.

It is important to share these things with our children. We don’t have to have it all figured out when we become parents. But we should always be on the path of learning on how to be more money smart – no matter how young or old you may be.

As adults, do we have the key to money?, Ideas for parents about allowances and teaching kids about money and financial literacy, #4PocketAllowance

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