Money. It’s (allegedly) the number one cause of divorce and a major reason why many parents find themselves laying awake at night and/or arguing about life. (How the hell are we going to afford college with the rising cost of EVERYTHING?!?! Why can you buy your x-y-z but I can’t buy my a-b-c?!?!?!)
Money makes me nervous. Money gives me freedom. Money does not grow on trees.
You get me. Money is complicated… which is why I’m very open with my girls when they ask me if we can just ‘buy something fun’ at the store. “Do you have extra money for it?” I ask. “Because I don’t have extra money for that right now. You have to spend money wisely girls…” (They dirty-look me most of the time.)
Many experts suggest we start as young as age 3 (yes!) to teach our kids how money works. You know, so they don’t lay awake at night as much as we do when they become parents. (According to a recent study, money habits start forming around age 7…)
My latest ‘FAB Mom’ segment on CBS Los Angeles shares some wise tidbits (that I found by poking around) about how to best teach kids about money. Thanks to LA Parent magazine, financial advisor, author of “Is Your Child A Money Master” and LA-local mom Sunny Lee and financial expert and author of “The Bank of Yourself Revolution” Pamela Yellen for the moxie you motivate us to teach to our young about how money actually works before it’s too late.
Check out the video and the full link on CBSLA.com packed with all sorts of additional resources to teach kids about money:
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