In many households, discussing money is taboo. Some think it is crass, some think it is a burden and sometimes self-esteem is associated with money. Kids pick up on how you feel and think about money. We need to have some frank, and positive discussions with our kids. No matter what your economic status is, we worry about money. I believe in facing fears head-on so the worry can be lessened.
Wealthy people may not lose sleep over paying everyday bills, but they do have concerns about passing on wealth prudently, a reversal in the stock markets wiping them out, or making bad choices in professional help. These may not seem like problems to some, but they are real problems that prevent people from talking to their kids about how to manage their money, and how to make sure that their future families, and communities are cared for upon their passing.
The uses of money is often not discussed either. How much do you save regularly? How do you establish credit? What is the difference between saving and investing? Basic money knowledge can lead to confidence and self-esteem when it comes to managing your money.
If the topic of money was taboo in your household, you can change the money story for your family. Have real conversations with your kids. Think of money as your tool – we control our tools, they do not control us.

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