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Parents your kids need you to teach them about money

In Teaching Children About Moneyby Phil McGilvrayLeave a Comment

Mum and Dad, your kids need you to teach them about money Why does no one teach this stuff? This is the comment I hear from every second coaching client I have ever worked with. The principles of smart money management are so simple, yet here in Australia, 1 in 2 people aged 18- 35 experience financial stress of some kind on a weekly basis…. Yes, you heard it right – 1 in 2 people experience financial stress on a weekly basis. We live in one of the wealthiest countries on earth, yet our younger generations are failing to thrive, financially weighed down by unrealistic lifestyle expectations and consumer debt. But the biggest problem is lack of practical education… As of this month, my 3 beautiful kids are now all teenagers! And yes, I am going both bald and grey – but that’s another story! Both my girls have had lessons on basic budgeting in year 9 maths and commerce but to them it was just another topic to be learned, like calculus or trigonometry. Without any practical real-life application, these lessons were useless. Money management skills need to be ‘lived’ not simply taught in a classroom. So, parents, like …

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How to Teach Children How to Manage Their Money

In Manage Money, Teaching Children About Moneyby Phil McGilvrayLeave a Comment

There is no one size fits all approach when it comes to teaching our children about money. The strategies we use to teach our children need to be age appropriate and very, very relevant to the issues they face in everyday life. The purpose of this series of articles is to pass on practical skills and activities that will assist parents to take a proactive role in equipping their children with the skills on how to manage money.