Are You a Financially Intelligent Parent?
aliko-aapayrollservices.com - Small businessess from 1 to 80 employees outsource your payroll management to us and let us worry about your payroll processing.
RSS Follow Become a Fan

Delivered by FeedBurner


Recent Posts

Tax changes to expect when you’re expecting
2016 Tax Tips for 2015 Filing Year
From Proprietorship to Corporation - When is the Best Time to Incorporate?
Tax Specialists Brief your Clients About CRA Fraud And E-Mail Scams
Bank of Canada cuts rates again

Most Popular Posts

Help your teenager build credit responsibly
Being an Executor of an Estate
Anti-Aging
Student Line of Credit
Principal Residence Exemption

Categories

aliko nutrition store- isotonix
aliko payroll services
canada revenue news and videos
canadian news
CPP ,OAS RRIF ANNUITY
Cross border Tax
Disability awareness and Benefits for disabled
estate planning
FINANCIAL LITERACY
HEALTH & NUTRITION
Home Car Insurance
Income Splitting Strategies in Retirement
INVESTING
kids and money -set your children up for financial success
life insurance
on line safety tips
online safety tips
PAYROLL
Real Estate - Investments / Retirement
RETIRE HAPPY BLOG
Retirement planning
SAVE YOUR MONEY
Save your money
SERVICE CANADA NEWS
small business planning
Tax Information for Students
tax news
tax planning
tax tips.ca
Tech news
TFSA

Archives

January 2016
July 2015
May 2015
April 2015
February 2015
December 2014
November 2014
September 2014
August 2014
July 2014
June 2014
May 2014
April 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013

powered by

MY BLOG

Are You a Financially Intelligent Parent?

Are You a Financially Intelligent Parent? -www.aliko-aapayrollservices.com
 
 
 
Are You a Financially Intelligent Parent?
 
 
 
 
Written by Jim Yih
 
 
Teaching kids about money is a topic that is near and dear to my heart as a father of 4 young boys.  A while back I got to reading a book,
 
 
 It was published in 2005 but the book is still very relevant to current times.
The book includes an interesting questionnaire to figure out if you a financially intelligent parent.  Here’s the questions:
1.       Do you have unresolved issues around money? Are you a spend thrift, a miser, a chaotic manager of money?
2.       Do you have goals and a plan to educate your children about financial matters?
3.       Do you ever consider the values that you are communicating through your money behaviours?
4.       Are you uncomfortable talking about financial subjects with your children?
5.       Do you have difficulty saying no when your children ask for money?
6.       Do you use money as a bribe to get your children to do what you tell them?
7.       If you feel like you’ve been neglecting your kids, do you try to make it up to them by buying them things?
8.       Do you frequently fight with your spouse about financial subjects in front of your children?
9.       Do you harbour extreme money beliefs; such as money is the root of all evil, or money is what makes people happy?
10.   Are you neurotically fearful of going to the poorhouse even though you make a good living and there is no basis for this fear?
11.   Do you ever talk to your children about the importance of giving money to those less fortunate than your family, or make them involved in charitable activity?
12.   Do you give your kids a constant allowance?
13.   Do you understand the emotional meaning of money in your life?
14.   Do you frequently make disparaging remarks about people who are poor or are less successful than you are?
15.   If your child raises a money issue, do you usually make the effort to take advantage of this teachable moment?
According to this questionnaire, I am happy to know that I am considered a financially intelligent parent.  How did you do?  Here are the answers:
1.       No
2.       Yes
3.       Yes
4.       No
5.       No
6.       No
7.       No
8.       No
9.       No
10.   No
11.   Yes
12.   Yes
13.   Yes
14.   No
15.   Yes
According to the Gallo’s, “Few parents receive perfect scores on this questionnaire. If you’ve never given much thought to these issues, the odds are that you had a number of “wrong” answers. Financially intelligent parenting isn’t an inherent skill. Our own parents’ money issues combined with social attitudes have shaped our money beliefs and behaviours, and they have not always shaped them in to ways that benefit our children.”
If you think about it, being a financially intelligent parent is not always easy.  It’s take conscious awareness, ongoing effort and some degree of consistent behaviour.
Based on the research in their book, the Gallo’s summarize financially intelligent parents as people who:
·         Are optimistic about their ability to change money behaviours;
·         Value the difference between financial savvy and financial intelligence;
·         Think long and hard about the meaning of money in their lives;
·         Consider the financial education of their children a primary parent responsibility;
·         Recognize their unconscious money deeds have as much impact on their children as their conscious money words;
·         Feel that no and enough are words that children need to hear as part of their money education;
·         Want their children to work more for a sense of satisfaction than for money;
 
 
 
 
 

0 Comments to Are You a Financially Intelligent Parent? :

Comments RSS

Add a Comment

Your Name:
Email Address: (Required)
Website:
Comment:
Make your text bigger, bold, italic and more with HTML tags. We'll show you how.
Post Comment