Hallelujah! Talking to Your Kids About Money

Update on progress for the Daily Reader for Compulsive Debtors and Spenders: 190 days written!

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A new book just came out that encourages parents to rip away the cloak of secrecy around money. It’s called, “The Opposite of Spoiled,” by Ron Lieber, a columnist for the New York Times.

I’ve never really understood why money was such a taboo subject. But I suppose if I think about the shame I have suffered over my behavior with money, it is more understandable. However, I’ve seen many who were not addicts around money still keep tight-lipped, which makes it seem as if managing money is a mystical and mysterious skill. But the fact is that dealing with money is something we do nearly every day! If we don’t talk to our children about money in a personal way, how on earth are they expected to learn how to manage it when they grow up?

It’s funny, I was just about to write that I’ve always been honest with my son (now 24) about money. But then, I realized that I certainly wasn’t honest when I debted to buy him the newest game system every year or a myriad of other trinkets that I couldn’t afford.

I’m grateful that my husband has always been responsible with money and that I got into recovery while my son was young enough to benefit from my experience, strength, and hope.

It’s a shame that finance 101 isn’t taught in school. What a difference that would make if an entire generation of young people learned from the start how to live within their means.

A review in Forbes lists “5 Things Successful Parents Know About Kids And Money” from the book.

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