Talking To Kids About Money: Episode 383

The Mom Hour

Mom Hour Media

Parenting, Kids & Family

4.9 • 1.7K Ratings

🗓️ 20 September 2022

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Teaching kids life skills around money isn’t as straightforward as, say, teaching them how to order a pizza or do a load laundry. Not only are there different ways to approach each topic – from allowance and paying for chores to saving and charitable giving – but money is also incredibly emotionally-charged and often complicated by our own life experiences (ahem, baggage). Today Meagan and Sarah reflect on how our upbringings impacted our financial points of view, and the challenges we face when it comes to teaching our kids good money habits. Join us!

LINKS MENTIONED:

Meagan read the book The Psychology of Money by Morgan Housel which describes how everybody is emotional about money and nobody is rational about money.
Here’s the recent College Plans & Family Culture episode where Meagan discussed how she talks about the cost of college with her children.
Sarah interviewed a personal financial planner in Spending, Saving, and Living Your Values with Natalie Taylor: Voices 36.
Meagan is launching a virtual community for midlife moms! Visit www.MORcommunity.com to learn more about Meagan’s private community for midlife moms coming soon!
Sarah’s kids use Go Henry as a debit card and app to help them learn about money.

Transcript

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0:00.0	Hi, I'm Sarah and I'm Megan. We're two moms with eight kids between us from
0:05.2	little to grown. We're in different areas of the country and in different stages
0:09.0	of life, but we both know that motherhood's a lot easier when real moms share
0:12.7	tips and encouragement. And remind you that it's really all gonna be okay. We're
0:16.6	not experts. We're parents who've been there. We're not perfect. We're real.
0:19.9	Welcome to the mom hour. Hey everyone and welcome to episode 383 of the
0:26.3	mom hour. I am Sarah Powers here with Megan Francis. Hey Megan. Hi Sarah. You
0:31.7	ready to talk about money today? Who's not ready to talk about money? We're
0:36.0	talking about talking about money with kids today, which is a little bit
0:39.5	different and layered with complication as we will dive into. I just want to
0:45.8	share one of the reasons that I have a shine away a little bit from this
0:50.4	topic on the podcast. We do get requests for it all the time. Is that I'm not
0:55.1	crazy about the way talking to kids about money is covered in mainstream
0:59.4	parenting advice? I have seen and read a lot of articles. I've read a couple of
1:03.3	books and I very much pay attention to the questions that our listeners ask.
1:08.0	And it's not that I don't think they're important. The most common questions
1:11.2	are when do you start an allowance? How do you teach kids to save their money?
1:15.9	Do you have a way to make kids grateful or to learn how to donate their money?
1:21.9	And do you pay for chores? Those are kind of the hot button questions that
1:25.8	get asked. And there's this, I have this sort of like, yeah, but reaction a lot
1:30.5	of the times because I think it's often treated like a list of practical
1:36.5	life skills that we're supposed to give our kids in the same way we want them to
	...

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