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School Lunches Cost WHAT? and Other Fun Kids & Money Moments
Kids & Money are forever intertwined
Janene (31:45) “If you’re sitting here, and your daughter or your son is 14 years old and you’ve never really talked about money…it’s not too late, even if they are 25 or 27!”
Paula (44:13) on why she talks to her daughter about money: “I want you to have that better life than what I had…and if you know these basic concepts now…let’s keep it going.”
Janene (50:50) “There’s kind of a renewed respect for the trades, and partly that’s because…it’s hard to get a tradesperson to come to your house, because there’s not enough of them out there!”
TIP TALK:(59:10) Janene “Use your smart phone calendar and reminders and set up recurring minimum payments so all bills get paid on time.”
Learn more and continue the conversation:
From infancy to school days, through graduation and into young adult independence, they learn the most about money from us, the parents.
We may never say a word, but they are learning. Here we discuss some age-appropriate ways to make talking (and learning) about money part of everyday life, and preparing them for bigger money decisions in their future.
April is Financial Literacy Month, and it's a great time to remember to "talk money" with our kids and each other.
Paula (19:47) “We learn from our parents, ‘you just don’t spend what you don’t have,’ and there was no other reason behind that…It makes sense, but why?”Janene (20:49) “Having those discussions earlier about, like you said, small things makes talking about the harder things later, the bigger things, easier.”Topics & Timing:(2:39) Get to know today’s guest: Paula Simmons, UECU National Account Representative
(7:43) Kids & Money: Talking to kids about money, is it worth it?
Janene (11:41) “The earlier that you learn from things, the better.”Paula (11:46) “Better that little register fail than the rent check!”(12:30) CueItUp is a great tool to make talking about money with your kids easier. It is great for parents and kids of all ages, and as Paula noted, especially for teens because: “Mom and dad don’t know anything.” <> CueItUp is a free online resource of short(7-10 minutes) e-courses about money topics of all kinds: www.uecu.org/cueitup.
(22:50) Starting conversations with young children (through age 6). Where do you start?
- Teaching delayed gratification with things other than money
- The value and rewards of saving; piggy bank vs. bank account for long-term savings goals
- Teaching budget basics by giving their own money to spend on shopping trips
- Understanding the value of coins and paper money, and that plastic cards aren’t magic money
- Understanding that there are limits: wants vs. needs
- Ultimately, allow them to make money decisions in small age-appropriate ways
- Don’t shield the challenges (and the plans to overcome them!) from them, be honest in age-appropriate ways
Janene (31:45) “If you’re sitting here, and your daughter or your son is 14 years old and you’ve never really talked about money…it’s not too late, even if they are 25 or 27!”
(32:25) Helping elementary and middle school kids learn a little more about money and being responsible with what they have
- Allowance and small jobs mean it’s time to budget and set your priorities
- Setting priorities for spending what they have
- Saving routinely for those bigger goals – consider teaching percentages so that it’s not a fight every time they get money to put some of it away for bigger goals
- Give incentives to save
- Teaching budgeting for every day expenses and what to do with extra money when it comes your way: Allowance (salary) and doing extra chores (side job/bonus money)
Episode Title Inspiration (35:56) “School lunches cost WHAT?”: Commiserate with Janene and Paula. All parents feel like this as some point, right? Still…it’s a great moment to teach kids about money.
- First checking account before they can drive? Yes! Learn the basics with small money items and purchases. Using debit cards for (parent-approved!) online purchases help them understand and value spending their own money online.
(40:30) Money lessons for high school students
- First “real” jobs
- Driver’s license, the car, repairs and insurance – what is their responsibility?
- Deciding what comes after high school (Paying for it is the topic of episode 2!)
Paula (44:13) on why she talks to her daughter about money: “I want you to have that better life than what I had…and if you know these basic concepts now…let’s keep it going.”
- Understanding the real life and money impacts of secondary education choices – it’s okay to “spreadsheet” (even for creative-bent people like Janene)!
- Be honest with what you plan to contribute to the expenses and what they will be responsible for.
- Ask them lifestyle questions and how it will align with the career they are interested in pursuing.
- Look at real salary examples together
- Consider all of the options that create a financially stable and rewarding life. (Skilled trades programs/degrees, online education/certifications, college, etc.)
- Ask your child what their view of the future, and listen to what they say. Keep an open mind.
Janene (50:50) “There’s kind of a renewed respect for the trades, and partly that’s because…it’s hard to get a tradesperson to come to your house, because there’s not enough of them out there!”
(57:08) teaching older teens about credit is really important. It affects the cost of real life bills, and can limit choices more than we think:
- Getting a loan is just the start
- Renting an apartment
- Setting up utilities
- Getting a job
- Building a good credit score is important. Pay bills on time.
TIP TALK:(59:10) Janene “Use your smart phone calendar and reminders and set up recurring minimum payments so all bills get paid on time.”
UECU's free CueItUp E-courses discussed today:
- Family Conversations About Money https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1695?locale=en#family-conversations
- Healthy Financial Habits: https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/2177?locale=en#healthy-financial-habits
- Budgeting for Families https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/2531?locale=en#budgeting-for-families/
- Creating a Budget https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1688?locale=en#creating-a-budget
- Credit Scores and Reports https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1569?locale=en#credit-score
- And many others to learn alongside your child with short e-courses on the basics: Savings Accounts, Checking Accounts, Credit Cards, and more. www.uecu.org/cueitup
Learn more and continue the conversation:
- Podcast: www.uecu.org/podcast
- Facebook: @UECU.org (Utilities Employees Credit Union)
- Instagram: @uecuhappy
- Twitter: @UECUhappy
- LinkedIn: Utilities Employees Credit Union
- 800.288.6423 | www.uecu.org
View all episodes
By Utilities Employees Credit UnionKids & Money are forever intertwined
Janene (31:45) “If you’re sitting here, and your daughter or your son is 14 years old and you’ve never really talked about money…it’s not too late, even if they are 25 or 27!”
Paula (44:13) on why she talks to her daughter about money: “I want you to have that better life than what I had…and if you know these basic concepts now…let’s keep it going.”
Janene (50:50) “There’s kind of a renewed respect for the trades, and partly that’s because…it’s hard to get a tradesperson to come to your house, because there’s not enough of them out there!”
TIP TALK:(59:10) Janene “Use your smart phone calendar and reminders and set up recurring minimum payments so all bills get paid on time.”
Learn more and continue the conversation:
From infancy to school days, through graduation and into young adult independence, they learn the most about money from us, the parents.
We may never say a word, but they are learning. Here we discuss some age-appropriate ways to make talking (and learning) about money part of everyday life, and preparing them for bigger money decisions in their future.
April is Financial Literacy Month, and it's a great time to remember to "talk money" with our kids and each other.
Paula (19:47) “We learn from our parents, ‘you just don’t spend what you don’t have,’ and there was no other reason behind that…It makes sense, but why?”Janene (20:49) “Having those discussions earlier about, like you said, small things makes talking about the harder things later, the bigger things, easier.”Topics & Timing:(2:39) Get to know today’s guest: Paula Simmons, UECU National Account Representative
(7:43) Kids & Money: Talking to kids about money, is it worth it?
Janene (11:41) “The earlier that you learn from things, the better.”Paula (11:46) “Better that little register fail than the rent check!”(12:30) CueItUp is a great tool to make talking about money with your kids easier. It is great for parents and kids of all ages, and as Paula noted, especially for teens because: “Mom and dad don’t know anything.” <> CueItUp is a free online resource of short(7-10 minutes) e-courses about money topics of all kinds: www.uecu.org/cueitup.
(22:50) Starting conversations with young children (through age 6). Where do you start?
- Teaching delayed gratification with things other than money
- The value and rewards of saving; piggy bank vs. bank account for long-term savings goals
- Teaching budget basics by giving their own money to spend on shopping trips
- Understanding the value of coins and paper money, and that plastic cards aren’t magic money
- Understanding that there are limits: wants vs. needs
- Ultimately, allow them to make money decisions in small age-appropriate ways
- Don’t shield the challenges (and the plans to overcome them!) from them, be honest in age-appropriate ways
Janene (31:45) “If you’re sitting here, and your daughter or your son is 14 years old and you’ve never really talked about money…it’s not too late, even if they are 25 or 27!”
(32:25) Helping elementary and middle school kids learn a little more about money and being responsible with what they have
- Allowance and small jobs mean it’s time to budget and set your priorities
- Setting priorities for spending what they have
- Saving routinely for those bigger goals – consider teaching percentages so that it’s not a fight every time they get money to put some of it away for bigger goals
- Give incentives to save
- Teaching budgeting for every day expenses and what to do with extra money when it comes your way: Allowance (salary) and doing extra chores (side job/bonus money)
Episode Title Inspiration (35:56) “School lunches cost WHAT?”: Commiserate with Janene and Paula. All parents feel like this as some point, right? Still…it’s a great moment to teach kids about money.
- First checking account before they can drive? Yes! Learn the basics with small money items and purchases. Using debit cards for (parent-approved!) online purchases help them understand and value spending their own money online.
(40:30) Money lessons for high school students
- First “real” jobs
- Driver’s license, the car, repairs and insurance – what is their responsibility?
- Deciding what comes after high school (Paying for it is the topic of episode 2!)
Paula (44:13) on why she talks to her daughter about money: “I want you to have that better life than what I had…and if you know these basic concepts now…let’s keep it going.”
- Understanding the real life and money impacts of secondary education choices – it’s okay to “spreadsheet” (even for creative-bent people like Janene)!
- Be honest with what you plan to contribute to the expenses and what they will be responsible for.
- Ask them lifestyle questions and how it will align with the career they are interested in pursuing.
- Look at real salary examples together
- Consider all of the options that create a financially stable and rewarding life. (Skilled trades programs/degrees, online education/certifications, college, etc.)
- Ask your child what their view of the future, and listen to what they say. Keep an open mind.
Janene (50:50) “There’s kind of a renewed respect for the trades, and partly that’s because…it’s hard to get a tradesperson to come to your house, because there’s not enough of them out there!”
(57:08) teaching older teens about credit is really important. It affects the cost of real life bills, and can limit choices more than we think:
- Getting a loan is just the start
- Renting an apartment
- Setting up utilities
- Getting a job
- Building a good credit score is important. Pay bills on time.
TIP TALK:(59:10) Janene “Use your smart phone calendar and reminders and set up recurring minimum payments so all bills get paid on time.”
UECU's free CueItUp E-courses discussed today:
- Family Conversations About Money https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1695?locale=en#family-conversations
- Healthy Financial Habits: https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/2177?locale=en#healthy-financial-habits
- Budgeting for Families https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/2531?locale=en#budgeting-for-families/
- Creating a Budget https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1688?locale=en#creating-a-budget
- Credit Scores and Reports https://uecu.everfi-next.net/student/dashboard/financial-education/building-financial-capability/1569?locale=en#credit-score
- And many others to learn alongside your child with short e-courses on the basics: Savings Accounts, Checking Accounts, Credit Cards, and more. www.uecu.org/cueitup
Learn more and continue the conversation:
- Podcast: www.uecu.org/podcast
- Facebook: @UECU.org (Utilities Employees Credit Union)
- Instagram: @uecuhappy
- Twitter: @UECUhappy
- LinkedIn: Utilities Employees Credit Union
- 800.288.6423 | www.uecu.org