As a Financial Education Coach, I have the honor of working with individuals who are in the process of becoming financially stable. Also as a Certified Financial Social Worker, I know that money is often a symptom of something much bigger. My clients’ relationship with money stems from a variety of things including how their parents managed money– if they experienced deprivation during childhood and if they were taught to value money. As we discuss the barriers that are stopping them from becoming economically stable, we discuss their past experience with money. Too often I hear, “I wish I knew this when I was younger! I wouldn’t have done (insert all of your bad financial decisions here).” But seriously, if we could go back, we would do things very differently and make TOTALLY different choices regarding our personal finances.
Well say no more! Instead of wishing that we could teleport back to our early 20’s, we can let our children learn from our mistakes so that they won’t have to experience it twice. Children experience our mistakes, trauma and challenges, just from a different perspective. As a mother, I know that we think that we are helping our children by hiding the “bad stuff” and not telling them the truth. But also as a mother, I have seen this backfire. We have to be honest with our children, especially about finances, and create an open space for communication. If we can create financially fit children, they will become financially empowered adults!
How do we create financially fit children, you ask? Stay tuned all week on our Facebook page to find out.
By Alnita Smiley, Financial Education Coach, MSW, CFSW