Teach them the value of a dollar
A common complaint of most parents is, ‘my kid doesn’t know the value of a dollar.’ If you, the parent, are paying most of their expenses, how would they know? Think about how you learned about the value of a dollar. Growing up, you gradually had to pay for items and hopefully earned more and more money to accompany and account for those expenses. This lesson will help you teach your child the value of a dollar.
1) READ THE CHAPTER
For information and a deeper dive into having money talks with your kids. Read the chapter with relevant financial literature to give you a sufficient foundation on the topic. Order your copy of the book below.
2) LISTEN TO THE PODCAST
Listen to this lesson’s episode where I’ll walk you through the questions to ask your kids during the conversation as well as the likely responses you’ll hear from them.
3) SEND THE TIKTOK
Send this video to your child, so you can set the stage for the topic you’ll be discussing, in a language they understand.
4) HAVE THE MONEY CONVERSATION
Using your printed one-page conversation guide and enjoy the dialogue with your family to get them financially launched. Now’s the time to discuss and start the conversation.
Additional Lesson Resources
- Budget Breakdown (great real world understand of what it costs a 25 year old to live)
Financial Literature (FinLit)
- ECONOEDLINK (Value of Dollar): Good to use with inflation: https://econedlink.org/resources/what-does-a-dollar-really-buy