Planning Basics How are you planning to reach your goals?

Do you talk about money with your children? When kids learn about responsible money management at a young age, the lessons will pay dividends throughout their lives.

Money mentoring will help your child

• be independent and self-sufficient
• make informed decisions and choices
• use good judgement and look at consumption realistically
• acquire the skills and knowledge to be financially secure.

Communication is key to any relationship, but this is especially true when it comes to money. Failing to communicate clearly about your financial values can cause unnecessary tensions with your children.

Follow these three simple steps to begin communicating with your children about finances:

1. Be a role model. Involve your children in deciphering the difference between wants and needs and making short- and long-term decisions. Your kids are paying attention to how you manage your money- they are learning both good and bad money habits from you.
2. Remember, it’s good to talk about money. Discuss with your children, it’s how they learn.
3. Use every opportunity as a teaching opportunity – when you are out at the grocery store or a restaurant, use everyday situations as opportunities for teaching your kids about money.

Learn more at MakeitCount – Be a Money Mentor.

Question:
I teach elementary school in Winnipeg. Are there any programs I could use to teach financial concepts while adhering to the learning outcomes of the Manitoba curriculum?

Answer:
The Manitoba Securities Commission offers a free program for classroom teachers called Make It Count: An Instructors’ Guide to Youth Money Management. The program provides ready-to-teach lessons that include teaching objectives, discussion questions, activities (including a list of all materials and the amount of time required to teach the lesson), activity instructions, extensions and teacher tips. General and specific learning outcomes are listed for all lessons across many subject areas at the back of the guide.

Click here to order a hard copy. Available in English and French.