Do you have family meetings in your house? Dedicated time each week or month to discuss events, changes, or money? My parents sat my sister and me down regularly for family meetings, even discussing finances with us. Admittedly, I remember my own loathing during these meetings, wishing I was somewhere else, but as an adult I recognize how influential those meetings were on my own relationship with money.
I don’t believe you need to share every detail of your finances with your kids, but consider bringing them into dedicated conversations around budgeting including where you plan to give, why you plan to save, and how you plan to spend. Allow your kids to share in your joy in tithing or the satisfaction of paying off a car loan. Feeling like part of the effort will help them understand the importance of financial responsibility, setting them up for long term success.
Securities offered through J.W. Cole Financial, Inc. Member FINRA/SIPC www.finra.org and www.sipc.org Advisory services offered through J.W. Cole Advisors, Inc. J.W. Cole Financial, Inc., J.W. Cole Advisors, Inc., and CandorPath Financial are unaffiliated entities. Advisors must be properly registered in the state where you live in order to conduct securities related business with you. A response to your request for information might be delayed in order to assure our compliance with this regulation. No information provided on this site is intended as a solicitation to buy or sell any security. The investments and services mentioned may not be available in every state. No security will be offered or sold to any person, in any state in which such offer, solicitation, purchase, or sale would be unlawful under securities laws of such jurisdictions.
For a copy of JWCF’s Form CRS, JWCA’s Form CRS, or JWC’s Disclosure Supplement pleaseclick here. By following the link, you consent to the receipt of the Form CRS electronically.