Family communication has its challenges today.

A good old fashioned, face-to-face conversation has been reduced to a text message; with abbreviated words to boot, lol! And there are topics that require our focus and clear communication but many prefer to avoid them—like money.

Perhaps we can blame it on Emily Post’s book of Etiquette (1922), which lambasted talk of money.

It seems generations of parents for almost 100 years have carried on her view of money-talk as taboo.

In This Episode, We Look At:

Communication about money

According to an Ally Bank survey, 7 out of 10 people consider it rude to talk about money.

It does seem that millennials are breaking the trend; “more than half readily disclose their income, savings, or debts to other people, Ally found.”

This is one area that I am “with the Millennials”.

Plan your talks

45% said they would rather plan a dinner discussion for the topic of money rather than talk on the fly.

During a drive

When writing a tithe check, offering, or giving online

While shopping

Read Scripture and discuss

Read money-related stories

Concepts

A good starting point is the Value of Money.

Earning

What does it take earn money? Explain trading labor or a service for income.

The importance of learning a trade and developing a skill.

“Does money come easily, or is their a cost to obtain money?”

Spending

How to determine what a product is worth—should you buy it?

“Which do you want more—That fidget spinner or your $5?”

Saving

Your child may not be able to buy what they want with the money they earned this week. Teaching them the principles of saving, they hold onto a portion of what they earn, and in time, have enough to make that purchase.

Teach them Proverbs 6:6 and Proverbs 21:20

Credit

When the time is appropriate, teach them the truth about credit cards.

It is not money to spend

The credit company does not love your child, but wants to make money off of them.

Teach Proverbs 22:7

There is power in paying cash for purchases, including “emergencies”.

Improve Your Faith and Finances:

Model financial stewardship to your family.

Your walk talks louder than your talk talks.

Share Your Thoughts:

If you have a question or comment about today’s topic, we invite you to share your thoughts.

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