Money Talk Matters – Premarital Financial Program

Earlier this morning when I was doing some research, I read a story stating that CBS News did a poll recently. One of the items that stayed with me is that parents have had to tell their children they could not afford something. This might have been the first time they have had to say this. The story shared that some kids were upset.

The economy is having an affect I am sure that many did not expect. I like to see it as an opportunity to get financial houses in order. Take this time to reevaluate spending patterns and see where an adjustment can be made. That does not necessarily mean you cannot splurge. What it means is take your time and pick and choose how you are going to splurge.

One thing I do like about this is that parents are discussing money with their children, not necessarily by their choice; however they are including them. Whereas if this were not happening right now, they probably still would not have been included. I encourage you if you are reading this to talk with your children today about money. Talk with them on a level that they can understand. You can never start to early.

Think of all the advantages of teaching children now about money. It can prevent financial mistakes and teach them how to make their own decisions, not give into peer pressure. Let’s be honest, sometimes that happens when it shouldn’t.

Our twins are very conscientious about spending and saving their allowance. It makes us happy that they are taking into account the consequences of spending and saving. They are seven years old. Money talk matters regardless of age and can impact households in a positive way.

I wonder what would happen if for six months – families decided to take on this motto: Do not SPEND what you do not HAVE! Would that in itself create a bailout for some or not.

Tags: economy, financial, money, parent, talking