Dollars, Cents, and Confidence

Weekly tips for the grown-ups shaping youth into financially savvy adults

Hey there! It's Talk About Money Tuesday, my favorite day of the week!🤑

If you're still scrambling to put together a last-minute Halloween costume, don't despair. Google has a list of 10 trending Halloween costumes you can look at for some inspiration.

But if the whole costume thing is too much, I've got something else you can do in the spirit of Halloween: Try ghosting the financial the habits that could haunt your child's financial future.

Kids are always watching how we handle money, even when we think they aren't paying attention. By modeling financial behaviors like intentional spending or making smart decisions about credit, we can help take the fear and mystery out of managing money.

After all, the money lessons we teach today can put kids on the path to become confident adults who feel empowered to make smart financial decisions.

This Halloween, challenge yourself to ghost one of these money habits and replace it with a better example:

1. "We don't talk about money."

The habit to ghost: Treating money as a private or off-limits topic that kids shouldn't ask about.

The smarter move: Make money conversations part of everyday life. Try talking through family spending priorities in an age-appropriate way and answering questions about saving, earning, and budgeting without shame or secrecy.

The lesson kids learn: Money isn't a taboo subject. They'll grow to understand that asking questions about and understanding how money works are essential life skills.

2. "I want it, so I buy it."

The habit to ghost: Making impulse purchases, giving in to every temptation, or turning to "retail therapy" as a quick mood booster without considering the consequences.

The smarter move: Model pausing before purchasing. Let your kids hear you say, "I like that, but I'm going to think about whether it's worth the money."

The lesson kids learn: You don't have to act on every spending urge.

3. The "extra money is spending money" mindset

The habit to ghost: Treating bonuses, tax refunds, or birthday loot as an excuse to spend without thinking about future financial goals.

The smarter move: Show young people how to give extra money a purpose. You can talk to them about setting aside a portion for savings, paying down debt (including to the bank of Mom & Dad), investing, or giving.

The lesson kids learn: Just because you have money doesn't mean you need to spend it.

4. The "swipe now, think later about how to pay it back" mindset

The habit to ghost: Thinking of credit cards, monthly payment plans, and buy now, pay later offers as extra money instead of borrowed cash that must be repaid.

The smarter move: Model responsible credit use. Make sure your kids know how interest and fees work, why minimum payments can be misleading, and how borrowing for things they want today can limit the options they have down the line.

The lesson kids learn: Credit isn't free money!

5. The "because I said so" approach to money

The habit to ghost: Making financial decisions for young people without explaining why, dictating their spending choices, and swooping in to fix every small money mistake.

The smarter move: Involve kids in age-appropriate money decisions like letting them spend their allowance within a set budget or manage a monthly clothing budget. If they spend it all too quickly, don't automatically give them more money. Talk with them first about planning ahead and making trade-offs.

The lesson kids learn: Financial confidence comes from practice and asking questions about how money works.

Remember, kids learn about money from what we say, what we do, and what we choose to explain. A small change in what you model today could help your child make smart money moves for years to come!

Loose Change

🎄 The crowd favorite for all things Halloween is now doubling down on Christmas decor. There may be a Spirit Christmas store opening near you.

🍿 With the price of Halloween candy outstripping inflation, don't be surprised if some salty snack alternatives show up in your kid's trick-or-treat bag.

🎃 All you ever wanted to know about pumpkin spice, the flavoring that some people can't get enough of. I'll never understand the hype. 🤷🏾‍♀️