Thought today’s #WednesdayWisdom would give you something to think about 🙂 Hope you’re having a great week!
Jump$tart CEO Discusses Budgeting, Family Values with Fatherly
In an article by Seth Simons on Fatherly.com, a leading digital media brand for dads, Jump$tart Coalition President and CEO Laura Levine discusses talking about money with kids. Below is an excerpt; the full article is on Fatherly.com
Laura Levine, president and CEO of the financial literacy organization Jump$tart Coalition, advises parents to begin any conversation about wealth with a conversation about budgeting. For one thing, she recommends clarifying that while some families may have greater wealth, they may not have as much disposable income, or vice versa — which might account for many of the superficial disparities kids notice, like their classmates having different toys or going on frequent vacations.
In that sense, the budgeting conversation also becomes a conversation about family values.
“A budget is a plan, but it’s also based on what our family decides,” she suggests explaining to your kids. “[It’s] how our family decides we want to use money, and our family values saving. Maybe saving for college, maybe saving for the parents’ retirement… We allocate more of our money to some of those things, so the amount we have to spend is less.”