I understand wanting to stay at home with your children when they’re young, having wished for it myself. Like most new moms, when my three months of maternity leave was over (all of it unpaid by the way!) and I had to go back to the office, I was devastated. I couldn’t fathom the thought of leaving my son for an hour, let alone a day. I wanted more than anything to stay home and be with my baby. I would have done nearly anything to be a stay-at-home mom. Financially, however, it was impossible for my family. Trust me, I did the math countless times, and being a banker, I was good at math!
So it’s 2017. Maybe your kids are all in school now, and maybe you’ve decided that this is the year you’re going to get creative – in every sense of the word. Maybe you’ve decided that you’re going to get off the fence and contribute to society and your household income. Maybe you need to work for financial reasons, maybe you don’t. But one thing is for certain… Mompreneurship can be big business.
Talking to our kids about money can be daunting. Where do you start? How do you start? When do you start?
As a Certified Life Coach, and Weekly Parenting Correspondent on Global News, I care very deeply about parents, kids and the wellbeing of the family unit. I often speak about the importance of financial freedom for women, and the messaging that it is never too early (OR TOO LATE) to begin. The more you talk about money now, the more confident you will be in your financial future. And while money doesn’t buy happiness, financial freedom can mean things like an early retirement, a home for your family, and the flexibility to make choices for yourself.
Here are my five tips when it comes to talking to your kids about money: