Do Your Children Mimic Your Financial Habits?

I was getting so frustrated! “Why do they make kid’s seats so difficult to buckle?!”

Shocking Reflection

Here I was, struggling to get the car seat straps over my daughter’s shoulders and secure the 105 point harness. At the same time, I was also trying not to dislocate my daughter’s arms. Unfortunately, at one point during my frustration I let what most parents call a “bad-word” slip through my lips. Not a big deal, right? WRONG!

Somehow that one single word departed my mouth and found its way straight into my 3 year old daughter’s mouth. Even my man-like grunt was projected back to myself all too clearly! I still remember the shock and horror. This was my daughter’s first bad-word and I was the one who taught it to her. To add to my heartache, my wife witnessed the entire event.

I realize I’m not the only father who’s done something like this, but I’m certainly a father who learned from it. Through the imitation of my 3 year old I learned some age old wisdom.

Children seldom misquote you. They usually repeat word-for-word what you should not have said. ~ Author Unknown

At that moment I promised myself, and my wife who was looking rather disgustingly at me, I would clean up my language.

Changing Direction

It’s been years since that day and I now have a son who recently turned 3 years old. I’m happy to report none the words he’s learned from me have ever been “bad-words.” I’m also delighted to tell everyone my daughter has never spoken that bad word again, or heard her father speak it.

So what does this have to do with money?! Everything! Like children, most of us simply reflect what we’ve seen or heard. Even if your parents never talked with you about money you may still be a reflection of their financial habits. If as a child you watched mom and dad blowing their money you may have grown up to do the same thing. The same is true for a child who watched dad and mom sit down and discuss the family budget. That child just may grow up to do the same thing one day. Is there a guarantee of healthy financial habits from a parent’s example? No. However, why would someone knowingly choose to provide a bad example?

I’m not trying to insult any of the parents who didn’t teach their kids about money. It might not have been their fault. Maybe their parents were never taught about money themselves. However, if you fail to teach and demonstrate good financial habits to your children then they will most likely grow into a reflection of society’s financial norms.

Watching You

Here are four practical things you can let your kids see and do to help guide their financial future.

1. Don’t hide family budgeting from your kids. Let them hear and see what financial planning looks like. They don’t need to know all the numbers, but they do need an example to follow.
2. Teach them how to shop smartly. As an example, ask them to help cut coupons or find sales.
3. Teach them to earn money and save up for something they want. This may be anything from a toy for younger kids, up to car for older kids.
4. Let them see you give. If you want your children to be generous then they should first see this in you!

What have your children seen and reflected? Meet us in the comments!

Photo by apdk