A recent survey about
family money discussions found that 84 percent of families discuss finances with
their kids. What was interesting was that 54 percent of those conversations
were started by a child under age of 18. Clearly young people want to know more
about money.
Make an effort to talk with
your family about money, and be prepared for the conversation. Think about the
money questions that you have had for a while. Do you want to know more about
credit cards? Do you want to know how you can buy a car? Are you concerned
about saving for college? Write your questions in order of priority so you can
make sure that you and your family discuss what is most important to you.
Here are some examples
of common questions that teens have. They can help start a conversation at
home:
1. Do
we have a family budget?
2. What
do you use a credit card for?
3. How
do you write a check?
4. What
do I need to do to open a bank account?
5. How
much is a good starting salary?
READERS,
what do you think?
Are you comfortable discussing
money matters with your family? Why or why not?
How do you think you can
overcome the discomfort you or your parents feel about discussing this
important subject?
References:
Charles Schwab & Co.
(2011). 2011 Teens & Money Survey Findings. Retrieved from http://www.aboutschwab.com/images/press/teensmoneyfactsheet.pdf.
National Endowment for
Financial Education. (2014). NEFE, Jump$tart Stand Up for Financial Literacy
Month 2014. Retrieved from http://www.nefe.org/press-room/news/nefe-jump-tart-financial-literacy-month-2014.aspx.
