Sometimes it’s hard to know how to get your child off to the right start when it comes to saving money. At Hills Bank, as parents, grandparents, and mentors to youth, we have compiled nine conversation starters to help you use when talking to your kids about money.
- When is buying things on sale a good idea? When is it a bad idea?
- How often do you hang out at the mall or a favorite store with no particular purchase in mind? How does that affect your buying habits?
- Is it easier to name your favorite store or your favorite charity? Why?
- How much does a vacation cost?
- What is your most treasured possession? Why does it bring you so much happiness?
- What are you saving for?
- How do your friends influence your shopping decisions? Is their influence positive or negative and why?
- How many and which things do you own that encourage or require you to keep spending more money? (example: video game systems)
- Which is more important to you: saving, spending, or sharing?
- Part 1 – Where Does Money Come From?
- Part 2 – Save, Spend, Share: – The 3-Chamber Method
- Part 3 – What Are You Saving For?
- Part 4 – Spending and Sharing Your Money
- Part 5 – For Parents: Words of Wisdom
Let us know what conversation starts have worked for you to facilitate the conversations about money with your children in the comments below. Together, we can help prepare our youth for their future finances.