Raising Financially Fit Kids

Raising Financially Fit KidsFebruary is an important month for me because 10 years ago, my son was born on February 12th and my world was forever changed. As I have shared in the past, I never felt as though I had much of an education in personal finance; and as a result, I made a lot of mistakes along the way. As a financial planner and parent, it's important for me to make sure that my son doesn't follow in my footsteps and that I do everything I can to help him live a financially fit lifestyle.In honor of my son's birthday, I wanted to talk about raising financially fit kids, so I recruited my blog friend, Lauren Greutman, from I Am That Lady. She is a kindred spirit of mine in that we are both reformed spenders who have changed our ways and now we help others. More importantly, we are both helping our children, and she has some great suggestions.

WHAT ARE WE DRINKING?

LAUREN — Coffee to help manage her 4 kids!

SHANNON — Coffee also

PODCAST NOTES:

Lauren is a recovering spendaholic.
She got her family into $45,000 in debt and didn’t tell her husband.
Lauren’s story is a prime example of last week’s episode with Paul Golden, Financial Infidelity.
Starting in 2006, Lauren’s family went through the journey of paying off her debt.
Lauren is now raising her 4 children to be financially fit by:
- Making them think about the decisions they are making with their money
- Helping them to not be impulsive
- Helping them to give
- Helping them to save
- Helping them to see that money isn’t just money, it’s a vehicle for so many different things
- Not lending her children money by telling them she is not their credit cards
Shannon says she thinks mindfulness is the number one challenge when it comes to money.
Shannon believes it is very important as parents to talk about money and its challenges with your children.
Lauren shares a book about money and classes.