Financial literacy tips for parents

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Growing up, there were four things my parents taught me never to talk about: sex, money, religion, or politics. I now understand why they did that. Unfortunately, there is so much judgment and shame surrounding these topics that they wanted to protect me from uncomfortable or heated conversations. But what I’ve learned now as a parent is that this is the case absolutely the topics I need to talk to my children about. . . Because if I don’t talk about them and teach them these things, then who is?

When it comes to money conversations, the shame and judgment surrounding this topic can often perpetuate stereotypes and perpetuate the lack of dialogue about money, which can lead to a lack of financial literacy, which can then lead to future challenges such as divorce or stressful debt and Money mismanagement. That’s why it’s important for us parents to talk to our children about money and finances. Today’s guest, money mindfulness expert David Delisle, agrees and is on a mission to change the way we teach our children about money. He says: “As a society, we must eliminate all shame and judgment around money.” . . which perhaps even penetrates ours Parenting methods.”

Who is David Delisle?

David DelisleFounder of The Awesome Stuff™is a best-selling author, entrepreneur, real estate investor, speaker and, most importantly, a father. He contributes to Entrepreneur, Yahoo! News, Thrive Global and more. At the age of 11, David made his first investment, at 20 he began investing in real estate, and at 40 he retired. So inspiring! His book, The Golden Questis a Calvin & Hobbes-style graphic novel that teaches powerful lessons about money and focuses on breaking the vicious cycle of constantly striving for more. David’s goal is to change the way our children think about money and create more freedom to do what matters most to them. . . the Awesome Stuff™. David has been featured on Good Day LA, Good Day DC, Yahoo Wealth, Be Well, NTD TV, ScaryMommy, GoBankingRates, MindBodyGreen, Credit Sesame and more.

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What did we discuss?

In this episode, we chat with David Delisle about how we can teach our children about money and improve their financial literacy. Conversations about money are the foundation for improving our children’s financial literacy. Parents can show their children money mindfulness by simply talking about money and letting them know what you are saving for and what your priorities are. Here are some of the questions we covered in our conversation:

• How do you think we can improve our children’s financial literacy?
• When do you think is the right time to teach children about money?
• How do we as parents influence our children’s future financial literacy?
• What is Money Mindfulness?
• What are the most important things parents can do to prepare their children for future financial success?
• Can you talk about the role shame and judgment play in finance?
• How important are family conversations about money?
  • How can parents begin to appropriately initiate these types of conversations?
• What are the most important financial concepts for children to learn?
• What’s the great stuff?

After speaking with David, I can see that he has two core concepts for parents who want to teach their children about money and financial literacy without shame or judgment:

1. Stop shame play.

David said that we are all wired to either spend or save money, and by pushing “spenders” to adopt “savers” tendencies, we may inadvertently speak with judgment and shame about their spending habits. Our children need to know that spenders are not bad and that people are naturally born spenders or savers. Instead of shaming our donors, we as parents should acknowledge that they were born that way and then work with it. David mentioned that as an adult it’s easy to automate our saving. So it doesn’t matter whether you are a saver or a spender as long as you understand money and the habits and mindset behind saving. We empower our children to then spend their savings on what Is what is important to them is also the key.

2. Money Mindfulness.

As a society, we focus so much on how we can have more money that we often forget that we even want more. Money mindfulness is a way to focus on what makes us “happy.” The more we focus on what brings us joy, the more we realize what doesn’t bring us joy. This helps us and our children realize that most of the things we buy don’t actually bring us joy. We can teach this awareness and noticing the feeling to our children and demonstrate it in our families.

This was an amazing conversation full of helpful and practical tips that parents can use when teaching their children about money. Tune in to learn more and leave us a review!

David’s resources

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