I’m not sure when or if we will we will ever be done teaching our three children. I’m sure at some point soon when they are out of the house the learning will come in the form of advice more often than learning by example or pure lessons.
I’ve recently noticed a subtle shift as my son and daughter began to drive. They used to be a captive audience as passengers in the car as I would be driving them somewhere. A great opportunity to talk with them one-on-one which has sudden disappeared.
So just a friendly reminder to all you parent’s out there it’s never too early to start talking money or any other topic with your kids because the time does go by quickly. Some experts believe money lessons can begin as early as three years old. We did not start that early, as my wife and I just didn’t have our finances organized well enough to pass on any valuable lesson until our children were much older.
I believe we’ve made up for it in some big ways, not by any master plan, maybe just by a little luck, and a little fate mixed in. Over the last six years our children have seen us hit financial rock bottom, build a debt repayment plan, becoming debt free, incur a job loss, understand the importance of an emergency fund, see an active job search, and putting it all back together again.
Even with all that real-life experience I was a little surprise to find in my recent spending habits post of our teenagers that they were doing very little in the way of saving money. It just reinforced that as a parent your job is never done. Quickly we decide it was time to put a money-saving plan in place with our children.