The must-have money talk for every family

When it comes to being a parent, it’s never too early to start having age-appropriate talks with your children about money. With adolescents, saving and budgeting comes to mind, but as adulthood approaches, talking to them about your plan for your finances both during life and after death is one of the most important conversations you can have. It gives you the opportunity to share your long-term care wishes with your children, how your estate will be handled, and ensures your assets are distributed the way you prefer.

Start Talking Early

The earlier you start having these conversations, the better. As previously mentioned, it’s never too early to start laying the groundwork for open, honest conversations about money throughout each phase of your child’s life. Including them in discussions about how the family spends money will help them gain better insight into the importance of finances as they become young adults. This should help make future conversations familiar and easier down the road!

 

continue reading »