Sent: 09-02-2010 13:42:03
In this issue:
Return to full article list
HomeFree weekly newsletterSelf Managed Super Fund ArticlesContact usLogin
Setting a Good Example - 2 Ways not to Give in to Whining Children
There's a biblical quote that says 'Do unto others as you would have them do unto you'.
Have you considered what your values and ethics are around money? Where did they come from? Your parents? The church? The media? Are your money values and ethics working for you, and fair to others?
Your kids will pick up on your values and ethics, not necessarily by what you say, but more likely by what you do. It may be as simple as giving in to them whining for you to buy them something you had not planned for. If you initially say no, then give in, what message does this send?
Here's a couple of ways you may want to try so you have a better response to the whinging:
Encourage your younger children (age 3-6) to take spending money with them on outings. They will need a purse or wallet to take their money in. When they ask you to buy them something, and it's something you are willing for them to have and something they can afford, ask if they've brought their money with them. If not, they can't have it.
Teach your older children how to budget according to your values. Teach them to allocate their pocket money for giving, living, saving and wealthing. Encourage them to set aside giving, saving and wealthing money first, and to stick with their allocations (ie no robbing the savings if they find the living money has run out). That way, they can learn to spend the living money without guilt, knowing that they have also allocated money to others, and to their future.
For great resources to help you teach your kids about money, including the Money-ed-Box, see www.qld.kidsmoney.com.au. Leanda Kayess can be contacted on firstname.lastname@example.org, or phone 0409 057 952.
What's your practice doing to help improve the financial IQ of your clients kids? Discover how you can enhance your corporate social responsibility with the KidsMoneyRedBucketPrimary School Program. Contact email@example.com.
This email is general in nature only and does not constitute or convey specific or professional advice. Legislation changes may occur quickly. Formal advice should be sought before acting in any of the areas discussed. Be aware that the information in these articles may become innaccurate with time. Responsibility is disclaimed for any inaccuracies, errors or omissions. Particular investments are neither invited nor recommended and hence this publication is not "financial product advice" as defined in Section 766B of the above legislation. All expressions of opinion by contributors are published on the basis that they are not to be regarded as expressing the official opinion of any other person or entity unless expressly stated. No responsibility for the accuracy of the opinions or information contained in the contributor's articles is accepted by any other person or entity. Copyright: This publication is copyright. If you wish to reproduce this article you require a license, which can be purchased here, to do so.