From the course: Teaching Your Kids About Finance

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Talking to your kids about where the family money comes from

Talking to your kids about where the family money comes from

From the course: Teaching Your Kids About Finance

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Talking to your kids about where the family money comes from

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- So, how do we get our money? That's surely a question your child will ask you at some point. And this is a great opportunity to talk about how people earn money. When you go to work, you bring in income or salary, and it fills up your family financial bucket, and from there we spend for household expenses, which depletes our family budget, and then we need to repeat that process of going back to work, earning money again, to pay for the things that are most important for our family. The reality is our kids are under a lot of pressure. They'll sometimes go to school and realize they don't have certain things that their peers have. They might ask you questions like, well, am I poor, or are we rich, or are we somewhere in between? And this is a great opportunity to talk to them about what money means, how much to have, and how much we need, and most importantly, what is it that really defines us? Does it really matter if we're rich or poor, or able to cover the expenses that we most…

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