Money-smart choices start at home
When it comes to making money-smart choices, parents play an important role. As their first teacher, parents help children make good choices in everyday life, including money-smart choices. In today’s digital world, youth are bombarded with opportunities — and many involve money. It’s no wonder that even young adults still turn to their parents for financial advice and guidance. Although it may seem complicated, start with the A-B-C’s money-smart choices:
- A stands for awareness. Whether we know it or not, many of the everyday choices we make involve money. Helping youth to recognize that money is a means for attaining goals that are important to them and to their family is an important first step in making money-smart choices.
- B stands for balance. Every family has responsibilities and goals. When youth understand that money is needed to pay for necessary things like food and shelter, as well as fun things like family vacation, they learn to weigh the pros and cons before making choices.
- C stands for conversation. Engaging youth in ongoing and age-appropriate conversations, helps youth to understand what is important and why.
But parents cannot do it alone.
This April, join University of Minnesota Extension Center For Family Development as we celebrate Financial Capability Month, a nationwide initiative to raise awareness about the importance of making money-smart choices.
See upcoming Family Development webinars.
Parents, let’s talk college finances
From student to self-sufficient adult
Money conversation started for parents and children