To understand money is to be good with numbers, which I am not. And therefore, I am not good with money. I’m good at spending money, but when it comes to understanding, saving or managing it, I suck. I know my parents tried to teach me about it back in the day, but those lectures fell on deaf ears, clearly.
Plus, I must admit, that my parents were very giving with their money and though I didn’t live extravagantly, I was definitely spoiled to a degree. There was always a surplus of money (or so it seemed to me in my bubble). And a twenty in my hand anytime I wanted to go to the mall with friends. In college I bounced checks every month for the first year of having my own checking account, and maxed out my credit cards a few times before I understood what the words “interest rate” meant.
Now that I am in a different financial situation from when I was younger and I have two little daughters that my husband and I are responsible for providing for, I have an entirely new appreciation for money. It kills me when something breaks and Lily says, “That’s okay, we’ll just buy a new one.” As if it was as easy as plucking it from a tree. So I am starting the money convo early with my kids and have given them each their own piggy bank. Hopefully they will learn more about money sooner and more swiftly than I did.
Right now iVillage.com is running a campaign on how and when to initiate “The Talk” about money to your kids. When is it appropriate?, How do you it? That kind of thing. As part of their campaign, there is a video contest in which the winner will earn $500 in AMEX gift cards. Now that I understand! And I want to win. So, please check out my video below and go HERE to vote for it.
Also, if you’re interested in submitting your own video for a chance to win $500 CLICK HERE.