Money Talk

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QUESTIONS & ANSWERS

What is the National Money Night Talk?

A designated time to have a conversation with your kids about one of life's most needed skills: managing money.

What specifically will we discuss?

The things our survey revealed both you and your kids believe are crucial: the value of money, how to save, getting a job, living on less than you make, and preparing for financial independence.

How do I start?

Take the pledge and decide you'll make a little time for this dialogue. Then download the toolkit(s) appropriate for your child(ren) — middle school, high school or college.

Why should I do this?

Seven out of ten kids say they learn the most about money from you. You want to make sure you're passing on correct information about earning it, saving it, living on a budget, and steering clear of debt.

How long should it last?

Don't force yourself to adhere to a timetable. Even a 15 minute conversation over dinner can make an impact. There's a start, middle and end to the meal, and assuming it goes well (which it will) you leave the door open for follow-ups.

What if I'm asked a question I don't want to answer?

You mean like, "How much do you earn?" It's okay to dodge that one — more because you don't want to be the cause of competitive earning in the neighborhood. Twist it and say: "Let's talk about how much it costs us to live as we do." Then talk about the mortgage, car payment, cable bill, and how much you spend on groceries. Making a game out of it is fun, too.

If money is tight in our house right now, what do I say?

That money is tight in your house right now. Believe me, your kids already know this. They sense the tension. You can bring down everyone's blood pressure by talking and empowering your kids to help you save on the family budget.