Is money an openly talked about topic in your family? Most of the time, our frustration comes when the children force us to buy what they want even though they don’t need it. As parents, we often consider our finances before any buying decision. But do we include our kids in the conversation? If you’re someone who struggles with saying no to your kids when they frantically beg you to buy them another toy to add to their never-ending collection, today’s episode is for you. With me today is Melissa Meagher, a financial advisor who is also a mother of 2. Join our conversation as she shares about her passion for helping couples and families resolve conflicts on money, practical tips on how to raise children in the most money-wise way, and engaging children in money conversations that we thought were “for adults only”.
Melissa Meagher has over 20 years experience in the financial services industry. Having worked in a variety of settings from small, boutique financial planning firms to large financial institutions. She quickly realized the need to educate and coach people around managing their money. So, she took her passion for finance and making a difference in people’s lives to create her own money-coaching business called Talking Money. Here she creates a safe space to have real conversations about money and uncovers how our relationship with money impacts our motivations and behaviors every single day. Melissa is a well-respected speaker and has contributed to various publications. She also enjoys keeping fit and healthy, and spending time with her two children, Olivia and Lachlan.
Tune in to my conversation with Melissa Meagher and learn about:
- What has driven her to establish Talking Money and her heart behind it
- The most common obstacle that people want to overcome about money
- Money’s impact on people’s relationships
- The common trend within families and parents talking to their children about money
- Why it’s important to normalize daily money conversations with your children
- Practical ways to help kids understand the value and importance of money
- How to handle money better in this modern era
- Healthy money mindsets to help shape children’s reasoning as they handle money growing up
- How to reframe language and be more conscious of the words you use in addressing money matters with your children
Melissa Meagher’s Tips for Parents in Helping Kids Build a Positive Relationship with Money:
- Talk to your kids about money in everyday life, as if it’s a normal thing. Don’t make it this thing you’ve got to sit down and have this big conversation about.
- Get them to actually understand what the daily examples involving money actually means. Explain the flow of funds – where the money comes from, and where the money is going to. Let them understand the concept of money – that it’s not just a hole on the wall, which a lot of children think it’s like.
- Get them involved with making family money decisions so you get there buying and their involvement.
- Reframe your language in addressing money matters with your family.
“The most important thing is to talk about money and involve children in these
“It’s so important to set an example as grown-ups, as parents to our children, and to
also be conscious about the conversations you’re having around money.”
“We need to have a good relationship with money.“
- Talking Money – https://www.talkingmoney.net.au/
- Email – firstname.lastname@example.org
- LinkedIn – https://www.linkedin.com/in/talkingmoney/
- FB Page – https://www.facebook.com/talkingmoneyaus
- Pocket Monet App and Card spriggy.com.au
- Pocket Money calculator –https://www.spriggy.com.au/
- Savings Goal Calculator https://moneysmart.gov.au/
- Budget Planner –https://moneysmart.gov.au/
- 45 Minute Strategy Session – http://bit.ly/MelissaMeagher
Don’t forget to subscribe, leave a rating and review:
Any information and links presented within the Chatabout Children™ with Sonia Bestulic podcast are aimed to provide general information and advice only.
Information is to be used at the discretion of the consumer/ listener.
The information presented does not replace or substitute the expert advice received from a direct consultation with the relevant qualified professional.