Get More Info About Dr. Robyn Here: http://www.DrRobynSilverman.comHow to Talk to Kids about Money Values, Spending &Giving This podcast focuses on teaching kids and talking to kids about money values and money mindset. How do we help kids to understand how to save, spend and give? What money stories and money beliefs are we passing forward and what do we want them to learn or relearn? And how do we leave a money legacy that sets them up for success? Dr. Robyn Silverman speaks with Chelsea Brennan during this money episode of How to Talk to Kids about Anything. Special Guest: Chelsea Brennan Many parents believe that money is another taboo topic that we just don’t discuss. After all, there is a lot of emotion, status, privilege and judgment tied up with money that make it a topic that can be triggering to many. But when you think about it- where are kids learningabout money these days? Many only see the swipe of a credit card & the magic of online shopping- where we press some buttons and we walk out with stuff—or better yet, it appears at our door or in our mailbox! We know this isn’t how it works- and it’s important to teach our kids about money- what we value, what we might be saving for, what we choose to spend money on, which charities we may give money to and what seems frivolous, unnecessary or even counter-productive. But how do we talk to our kids about our family money values, goals and choices- and how can we help set them up with the knowledge, skills and understanding so that they know how to handle money when they need to make important financial decisions later in life? Today we’ll talk to Chelsea Brennan for some answers. BIO Chelsea Brennan is the founder of Smart Money Mamas and its monthly membership community, the Motivated Mama Society. An ex-hedge fund manager turned financial educator, she is dedicated to changing the way we talk about money, helping moms connect with all aspects of their money in a way that lets them overcome emotional blocks, identify what they most want, and create the healthy money habits that help them achieve their biggest goals– All while modeling positive money relationships for the next generation. Chelsea lives in Connecticut with her husband (a rockstar stay-at-home dad) and two young and energetic boys. Important Messages: We all have baggage around money. There’s a great deal of emotion when it comes to money. We can get a fight or flight response from dealing with it! Think about biases so we don’t inadvertently pass them on to our kids. Questions: Dive into your money memory—ie., how did you feel when yourmother/brothers came to borrow money from you? What language did your dad have with you when you found the money on the ground? It’s those little pieces of the puzzle that builds the whole picture. Generational story: What do we pass on? “We are a family who never has money. We never have enough. Every time I have some money, someone takes it, an emergency.” We internalize the narrative. Even if we don’t consciously recognize it, our brain is looking for reasons to prove that story. Most core money memories are set around age 7. We get curious about money. Compare. We hear things from parents. One little statement- in our child’s brain- can make a big impression and we go on for decades looking for ways to prove that narrative. We want to understand our narrative because it might be contradictory to our other values! We want to pass on values we truly appreciate and believe in. Family Money Values: (1) What do we stand for? Family time? Philanthropy? Education? Travel? Do this first- because every time we sit down with money, we are voting with our dollars. We are putting in our time, effort and money into the world. When we are clear of values we can take more agency over how we spend our money. (2) When we are clear on our family values, when child asks for toy that is against the declared values (i.e. violent video game), when we develop a narrative of what is most important to us as a family, it’s not just saying no, it’s referring to value—“remember we talked about our top value as ________, I don’t think this aligns with ________ value. How do you think this fits in with who we are as a family? Family Money Values sheet. Education, curiosity, environmentalism. Core money beliefs- also need to have partner voice his money values and history. “We talk about money at our Friday night meeting.” You know the time and place so it gets covered but isn’t triggering. What is your history of money? How do you want your relationship with money to be? “We have the skills and resources to make all the money we’ll ever need.” Security seeker. Want a feeling of abundance so that you aren’t always seeking- you have all the money you’ll ever need. Pass that on to children. “When we save for the future, we are protecting our future selves.” Thinking forward is hard for little kids! Saving feels like taking money away from
from Dr. Robyn Silverman
https://www.youtube.com/watch?v=p63QhsOV17U
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