Trystan TrenberthVisionary Investor | Wealth Strategist | Public Speaker | Super-Connector | Founder of Midlife to Millions

Top Parenting Tip: Teaching Kids the Value of Money

Name: Top Parenting Tip: Teaching Kids the Value of Money
Uploaded: 2024-09-16T12:00:49+00:00
Duration: 33 s
Channel: Trystan Trenberth
Description: In this short parenting advice segment, the speaker emphasizes the importance of introducing children to money concepts early, encouraging ongoing…

16 Sept 2024 · 1 min

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In this short parenting advice segment, the speaker emphasizes the importance of introducing children to money concepts early, encouraging ongoing conversations whenever a child shows interest in purchasing something. The speaker stresses that parents should avoid the phrase “we can’t afford that,” recommending instead to frame financial limits as “not part of the plan right now” or “not in the budget,” thereby teaching children about budgeting and planning rather than creating a sense of scarcity.

Chapters

The biggest thing I could tell parents, you know, no matter what ages your kids are, is start talking to them about money, right? From the time they're little, you can, you can start talking about money when they want to buy a toy at the store, and you can explain things to them. They may or may not get it at the time. It's still conversation over and over again. The other thing I would make sure, and never use the phrase "we can't afford that" with your children. Yeah, okay. Never say we can't afford that. It's either not part of the plan right now or it's not part of the budget.