Finding the perfect gift to light up someone's face is one of the joys of the holiday shopping season. It's also a great opportunity to teach kids about the importance of giving. But as we race through the shopping aisles, filling our carts and pulling out our cards at the register, what lessons are we teaching them about money?
The holidays can be so busy that most of us feel like we're being put through a time crunch. But with all the giving, saving and spending going on, this is also a great time of year to communicate with your children about wise money management.
With a big dose of family time coming your way, take advantage of all the teachable moments! If you make a point to get to the heart of money matters this holiday season, you will truly change your kids' perspective on money.
The holidays will be full of shopping, budgeting and presents. If you teach your kids a healthy perspective on the three main things you can do with money, they will be well ahead of the game. Having Give, Save and Spend envelopes is a simple but incredibly effective way to illustrate the point, for a toddler or a teen.
First, saving is an important skill to learn, and your own savings goals are a helpful way of opening up about your own finances. If you have any big-ticket gifts you've been planning to surprise someone with this Christmas, help kids to see that that big-ticket item required you to follow a savings plan.
One of the biggest financial lessons you can share with your children this holiday season is the need to avoid debt. Although many people rack up piles of debt charging Christmas gifts to credit card accounts, the payments and consequences of those choices can last for years. If you've ever had any debt of your own, speak honestly about the difficulties it brought into your life and encourage your children to see the advantages that come from a debt-free lifestyle.
What you do with your money makes a much bigger impact on your children than what you say about money. When you say 'no' to something you want because you can't afford it, you're teaching them how to delay pleasure. They'll see first-hand that if you don't have the money, you can't buy it. When you live the debt-free lifestyle yourself, it will inspire your kids to follow in your footsteps!

Share the Fun Side of Finances

As you're putting these principles into action, have fun with it!
Tailor your teaching to your kids' ages and interests. Do you have artsy kids? Show them your thrifty side by partnering on some homemade Christmas presents. Does your teen have a long list of friends to get gifts for? Help them set a savings goal and do extra chores to be able to play Santa Claus.
One of the most powerful things you can do is create family opportunities to give. Find a charitable cause you believe in and encourage your whole family to contribute some of their own earnings to a family gift this Christmas. It's especially effective when your kids have the chance to see how their money is helping other people, like taking a family trip to drop off your donation at a church or food pantry or surprising your neighbors with a Thanksgiving dish.
Those are the moments that impact children for life!

Keep the Conversation Going

Even in the busyness of the holidays, you can confidently teach your kids and teens solid money principles starting today. It's easier than you think!
Next, remind kids that spending is good when you do it responsibly.
Here's a great way to help your kids understand money management this holiday season-enroll them for the Children Finance Literacy Club Holiday Bootcamp by Attique Africa.
They're offering money management lessons this holiday for kids age 5-17. Check post for deets.

About The Author

Author
Flora

Flora is our fashion aficionado always up to date with the latest trends. A sucker for dogs and their cute goofy ears. She is the events and newsletter editor.

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