How to be a Good Money Role Model for Your Kids

by Nancy C. Hutchinson

Ok,let’s face it, being a parent means we are supposed to be the greatest role model! Unfortunately, bad habits can be copied just as much as good behavior, and this also applies to money.

Are you always in debt, unable to budget, have an out-of-control shopping habit, or are too free and easy with your dollars? Think carefully about your attitude to money and how that might be picked up by your kids.

Everyone views smart financial practices differently, and what’s an effective strategy for one parent doesn’t necessarily work for another. A growing body of evidence tells us financial literacy education doesn’t work, at least not as it’s currently taught. Perhaps one reason is that we’re not starting early enough.

We should begin before the kids are in kindergarten. You might think that’s a stretch, given that many preschoolers still have the notion that a nickel is that window? Are our kids doomed to a life of debt manipulation by advertisers and various scams they won’t see coming? worth more than a dime because it’s bigger in size. Researchers are now telling us that our approach to money is basically set by age 7.

Not at all.

Hard to believe? What if we missed

Still, the studies remind us that we need to start teaching good money habits as soon as kids understand that money is used to buy things. You may not feel particularly comfortable talking to your kids about money; but at the same time, you know there’s a huge effect you have. You underestimate how powerful you are as a parent.

The simple act of grocery shopping with a list can help teach the importance of planning ahead and “shopping systematically” rather than “just grabbing

Your Oral & Maxillofacial Surgeons and their team are ready to assist you in making the best decisions for a healthy mouth and lasting smile. We have a wide-scope practice to offer, including: things off the shelf.” Try to keep a clear head, and remember to demonstrate the benefits of price comparing as you shop around for the best deal.

Also, involve kids in the collection of receipts to show them how to take advantage of any special offers or coupons. They might even enjoy themselves, and you’ll be amazed to find them following your good shopping habits as they grow up.

Even better is involving your kids with a lot of hands on experience which will teach them far more than lectures. Start with making or buying three piggy banks; write the following words, one for each of the banks: “Save, Spend, Give or Donate.” As your child receives money from birthdays and other events, this gives them a tangible system of how to spend, save, and give their money. Involving them in this process will be invaluable in teaching them that money does not grow on trees.

Just talking to your kids about what you’re doing, what you’re thinking, and your decision-making process helps your kids to understand the trade-offs required in economic transactions, making it easier for them to delay gratification. You never know specifically what message is landing, but by doing things regularly and repeatedly, it becomes part of how the child sees the world.

HEALTH/MEDICINE

by Connie Wirta

Liz Gleeson once had to ponder whether she’d participate in cancer research. Now she sees herself as a soldier in the war against cancer.

“It’s not just my battle with cancer, this is a war,” says the breast cancer survivor who has joined three clinical trials. “I want to keep participating. I want to contribute to a cure or a better treatment.”

Liz was diagnosed with Stage 2 breast cancer after a routine mammogram in 2008. After surgery, she needed chemotherapy and radiation treatments.

Her Essentia Health hematologist/ oncologist, Dr. Mihailo Lalich, asked Liz to consider joining a clinical trial to test a new chemotherapy drug. They discussed how the trial could give her access to a new treatment and how her