Foster Group issued the following announcement on Nov. 22.
Often times, clients ask, “How can we teach our children or grandchildren to be responsible with their finances?” One resource I’ve recently viewed is a Ted Talk by Ellen Rogin, titled “The Surprising Way to Teach Your Kids to be Smart with Money”. Ellen shares some great insights on how we can shift our children’s’ mindsets as they relate to gratitude and giving.
Most of the time, it is not so much how we directly “teach” our kids about the value of money but rather how we model and speak about money around them. Yes, having piggy banks is a good idea. But, beyond the mechanics of things like this, our kids need to see us model a healthy relationship to money. It’s something that’s caught, more than taught. This is particularly true when it comes to being financially generous.
Soon, we will gather with family and friends to celebrate all we are thankful for in our lives. While setting aside one day to do this as a country is a good idea, why not make thankfulness and generosity an everyday activity?
I have recently been reminded that my own daughters not only soak in our words but our actions. They are sponges for verbal and nonverbal messaging. Ellen mentions, “Money is like love; when we give it away, it comes back to us.” Engaging our children in being thankful can make a big impact on their future behavior about money and finances. This could be the most impactful lesson we can pass along to the next generation, greater than any book or seminar we can send them to later in life. What if we challenged ourselves and others to create a daily or weekly gratitude list? I agree with Ellen, “Worry is a bad planning strategy.” If each of us could focus on what we are thankful for, “…we could shift from a mindset of scarcity to abundance.”
During the upcoming holiday season, I would challenge you to think about ways you can encourage your children to be grateful and focus on the act of giving and receiving.
At Foster Group, truly caring for our clients means taking the time to learn what’s in their hearts and using proven methods to help them pursue their goals. If you would like a second opinion about your financial situation or if your children would like some financial guidance, contact us, we would be excited to meet with you and/or your children.
Original source can be found here.