The benefits of a family finance chat over the holidays

As the holiday season approaches, families across America are looking forward to spending quality time with each other. With families back together in full force – parents can use this time to plan some time talking about family finances.

The holidays are everyone’s favorite time to relax, slow down, and spend time with friends and loved ones. Not only is it the most wonderful time of the year, but they also offer families a valuable opportunity to do something most would rather avoid: talk about finances.

In some households, the money talk can be somewhat uncomfortable, but you don’t want to miss out on the chance to discuss financial planning while everybody is together.

Studies show that families often avoid having discussions about finances, but avoidance can lead to confusion down the road when younger members start making their own financial decisions. 45% of adults ages 18 to 29 say they have received a lot of or some financial help from their parents.

For many families with members living across the country, getting everyone in the same location at the same time could be the most difficult part of the meeting – but if you need more assistance, consider equipping your members with Zogo.

Zogo partners with credit unions across the country to provide members and their families with gamified financial education. Backed by scientific research, its award-winning app offers bite-size modules and tangible incentives to make financial education accessible, fun, and rewarding. The holidays provide a great opportunity to have those conversations about things that will directly impact each family member’s financial future. Using a tool like Zogo makes those sometimes awkward and boring conversations so much easier to have.