Confession time – I love rock and roll! As a child of the 80’s, there’s nothing like cranking up the radio to Styx, Boston, Joan Jett, or even Loverboy to lift my mood and get my heart racing. Now, as a father of four, I am under pressure to help each sweet child of mine understand how to manage money. So let’s jump into this list of financial truths we can learn from the 80’s! With every breath you take, listen to your heart and you’ll know these are true:
- Let’s Give Them Something To Talk About: Having money of your own to make buying, saving, and giving decisions, even at an early age, is valuable. So give your children an allowance to start their training. Read more about this topic in our summer newsletter.
- She Works Hard for Her Money: Work is good! There’s nothing like working 9-5 to learn the value and pleasure in work and in receiving a paycheck. Of course, it may seem like a cruel summer, but learning to work hard so you can enjoy vacation is a valuable lesson!
- Papa Don’t Preach: While verbal lessons are important, your own modeling of spending, saving, and giving decisions will have a far greater impact.
- Total Eclipse of the Heart: Use experiences to help the lessons move from “head knowledge” to take over the heart, so your children are motivated to apply the lessons when they are on their own.
- Another One Bites the Dust: Though some guys have all the luck, mistakes are still going to happen. Learning to use them as valuable learning opportunities is an important life skill that serves us well.
- Everybody Wants to Rule the World: Money can seem like power. Help your children learn the most power comes in the freedom resulting from making wise financial decisions.
- I Want It All: Of course, but you can’t have it all! We all know that now, but helping your children learn money is a limited resource helps them understand spending today means NOT spending tomorrow. Good financial decisions are more than a feeling – basing them on a budget and a plan makes for long-term success.
- Girls Just Want To Have Fun: Using money to have fun is a good thing – but the most fun is had when the “big rocks” of your financial life are cared for first, for then you can enjoy the rest without worrying!
- Sweet Dreams: Dream big – and set aside money from the start to help fund those dreams. You want that little red Corvette? Fine – save up for it!
- Here I Go Again: Teach these lessons over and over, time after time, because repetition works. You may feel like Mr. Roboto, but you gotta have faith the lessons will take root.
As the final countdown begins, and your children start to leave the nest, you’ll be walking on sunshine and feeling footloose. You might want to turn back time, but don’t look back. Whether your children were born in the USA, Panama, Rio, Africa, or even Graceland, your endless love will guide them faithfully. As you go your separate ways, know your voices carry across the miles, so they’ll know they are never alone, for the lessons you’ve taught are always with them. Don’t stop believing – they’ll be fine with or without you. You will always be a phone call away so just tell them, call me at 867-5309.
P.S. – you may have noticed some 80’s song titles mixed in; count them up and send your list to firstname.lastname@example.org for a chance to win a $25 iTunes gift card if you find them all! I’ll give you a hint: there are more than 35! THIS COMPETITION ENDED 08/22/2016.
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