Issue: 203
Sent: 09-03-2010 09:58:06
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Rewarded for SuccessA How To Book Of Self Managed Super FundsBrain Rules part 3The Easiest way to do a Client NewsletterReally big decisions need timeWhy Warren Buffett won't buy a NewspaperWhy is the Henry Tax Review release delayedEmail Marketing Business Opportunity - Helen Bairstow
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Really big decisions need time

Click here to buy - A How To Book of SMSF's by Tony Negline
Leanda Kayess

Sometimes, as a parent, you will face some big money decisions that need time to resolve. Standing back from the situation can allow the real issues to surface. A lot of money can be saved by avoiding knee-jerk reactions.

But you know you can't hide your worries from your kids. Kids pick up on your stress.

Often the decision is around something you want vs something you need. You can use these situations to teach your kids about needs and wants eg you may be wanting to purchase a new car but you know it will stretch the budget and may take away funds allocated to things you need such as food and housing costs. Possible responses may be to shelve the idea for now, take on regular overtime or extra work, convert a hobby to a cash making venture, or seek a less expensive vehicle.

Notice when your younger kids are seeking more attention than usual - it is a sure sign you are pre-occupied with something. Focus on them and let the decision take a back seat for a while.

Your older kids may actually call you on it - they still need to know that despite your worries, you are there for them and that they are safe. Also, seeing you work through a well considered response to your problem provides a great example.

Keeping a cool head when facing a major decision is reassuring and helps kids feel safe, so take the time needed to make the decision a good one.

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 Leanda Kayess at leanda.kayess@kidsmoney.com.au or phone her on 0409 057 952.


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