Lesson 8

Explain borrowing and credit

Debt often plays a huge part in one’s physical and mental health throughout adulthood. It is crucial to develop financial literacy around borrowing in your children. This lesson allows a conversation about using credit as a financial tool in their everyday life, ensuring have an understanding of credit before they started using it as a vehicle to manage their finances.

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 topic episode that will walk through questions to ask your child and get the conversation flowing, with answers to the likely responses.

3) SEND THE TIKTOK

Here’s the video for you to send to your child, so you can set the stage on 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.