Is money an openly talked about topic in your family? Most of the time, our frustration comes when children want us to buy them what they want even though they don’t need it. As parents, we often consider our finances before any buying decision. But do we include our kids in the conversation? If you’re someone who struggles with saying ‘no’ to your kids when they frantically beg you to buy them another toy to add to their never-ending collection, today’s episode is for you. With me today is Melissa Meagher who took her passion for finance and making a difference in people’s lives to create her own money-coaching business called ‘Talking Money.’ She is a financial advisor who is also a mother of two.
Melissa shares her top tips for talking money with kids. She shares the most common obstacles that people need to overcome; how to be conscious about what we say and the impact money can have on relationships. She reveals practical ways to help kids understand the value and importance of money, and how to handle money better in this modern era, including common trends like credit cards for kids.
Money chat should be a normalized daily conversation. Melissa says, ‘Talk to your kids about money in everyday life, as if it’s a normal thing. Don’t make it this thing you’ve got to sit down and have this big conversation about it.’ She shares how we can encourage healthy money mindsets, shape children’s reasoning as they handle money growing up, and how we can reframe language and be more conscious of the words we use in addressing money matters with our children.
‘Get your children involved with making family money decisions so you get their buy-in and their involvement.’
So sit back and enjoy this episode of the Chatabout Children Podcast with Sonia Bestulic as she interviews Melissa Meagher.
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