From toddlers putting coins in their piggy banks to teenagers paying for car insurance, money management is huge issue in the life of a family. When not handled thoughtfully, issues surrounding money can become a constant area of family friction and disharmony.
Parents need guidelines and suggestions on how to establish and share their values concerning spending, saving and responding to the challenges of living a fiscally responsible lifestyle.
To help us address these issues we have called upon an expert guest, Gene Dickison, President and Chief Financial Advisor of More Than Money Financial Group. Gene offers parents a comprehensive overview of the values children need to embrace about financial matters. He stresses the importance of starting the money discussion with young children and offers practical suggestions on setting guidelines for spending and saving taking into account the resources of the family. Parents with considerable means as well as parents facing financial hardship will learn the importance of involving the whole family in managing finances.
Gene’s approach to involving the family is consistent with the practices of Family Centered Parenting in regards to utilizing family meetings, getting input from the children before decisions are made and stressing individual responsibility in making choices. We also take on the mundane but often troublesome debate about allowance and paying for chores. Should children be paid for doing their chores and be docked if they don’t complete them? Our approach might surprise you.
We close our show with our segment, “There’s Got To Be a Better Way” where we relate our personal parenting stories and how what we learned can be the solution for you.