You made it through the holiday bustle and maybe even found a few quiet moments to reflect on the year behind. For me, the anticipation of returning to a “normal” schedule again is more appealing as each day passes. As our family is preparing to resume the regular routine, we are doing what many families do – plan ahead. But, if you spent a little more during the holidays than you had intended, you may be dreading the looming holiday bills. Here are a few tips from some of my past blog posts that might be helpful to get your family started on the right financial foot this year:
Wishing you and your family a money savvy year in 2019.
Last week I had the opportunity to work with a great group of William Blair clients in Boston. Everyone attending intently focused on understanding how to talk with their kids about money throughout each stage of their lives. We focused on ages 6-18+, providing a short list of key ideas to move the conversation along in an age-appropriate way. Key ideas like:
Family wealth is obvious to children. Your expectations surrounding how your children will handle the family’s wealth are not so obvious. So, it’s important to talk with your children about the family’s goals for this wealth in a way that will allow you both to think creatively about how best to steward that wealth into the future.
Money itself and the language of money is straightforward; it’s literal, it’s not rocket science. But talking about money can get complicated. When you add emotion and experience – good and bad – to the discussion of money, that’s when it can get complicated.
Here are five tips to help you start this money talk :