The Huffington Post – Shannon Schuyler
“As parents, the first lessons we share with our children are those related to the values we expect them to live by — we teach them about sharing, telling the truth, being kind and unselfish, and respecting adults. These lessons help them understand what’s important in life; they’re behaviors to help them succeed as adults. What parents may not realize is that the same values they instill in their children about life’s large lessons are the same lessons that can make them financially responsible and help ensure their economic security. It’s not just about money, but about values and behaviors: appreciating the difference between wants and needs, and the hard lesson that waiting a little longer for what you want is worth the time invested. Delaying gratification is not something that comes naturally to children (or maybe to any of us), so we must explain how saving for what we may need in the future can be more valuable than spending on something we want now. Do we regret spending on something we had to have only to realize it would have been better to save for something more important later? Financial savvy and success is about understanding and acting on the knowledge that every person is her or his own best advocate. Parents must teach their children to read the fine print and ask for expert help when they need it. We must teach them not to assume anything and to ask smart questions.”(more)