Financial Tips: 5 money conversations you should always have with your family

Financial Tips: 5 money conversations you should always have with your family

If there's anything you want your family to know and practise about personal finance, you need to start conversations like this in your homes.
1. Family Goals
If every person is expected to have financial goals, it makes a lot of sense for families too to have family goals. And while you save for these goals, it is important you let your children know what you are saving for.
Also, every member of the family should have their goals and dreams. You can as a family chat about these goals and how to achieve them.

2. Money Mechanics
As a parent, it's important you let your kids know how money is earned and how they can do with it.
If your child gets everything handed to him, he'll probably find it difficult to understand that he needs to work to make money. Let him understand why you go out in the money and return in the evening.

3. Wealth and Work
Wealth comes with work, you can't make money if you don't lift a finger. Let your kids know they will make much money as long as they believe wealth and work walk together.
Be positive when you discuss your work with them. Let them know that work is that activity through which you earn money that enables choices.

Source: Financial Tips: 5 money conversations you should always have with your family

- gist culled from pulseng