PARENTAL MONEY SCRIPTS

Parental money scripts influence the money habits of their children from childhood into adulthood.  Most grown-up may not be aware of the impact their parents’ money scripts have on them. Schools do not provide enough knowledge of money, and this leaves home as the best place a child gains knowledge about money. A current parental money script can make a child develop a money disorder in the future. Jim Henson is quoted saying, “Kids don’t remember what you try to teach them; they remember what you are.” 

Some parents work extra hours to earn enough money for the sake of their children. For them, money status is everything. They attribute their happiness to having more money to spend on their kids. At times, seeking more money comes at the expense of spending time with their children. This behavior may feel like neglect to the child, and they may develop a particular perception of parenting from what they have seen. Other children find a way to manipulate their parents to give them more money and gifts as a substitute for not being present most of the time. When the children grow up, they are likely to develop money disorders such as money avoidance—where they attribute all evil things to money or become overspenders because they have always had their way to get money from their parents. 

Actions are more impactful than words. What practicable steps are you taking to ensure your child learns good money habits from you? 

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If you were to categorize yourself, would you consider yourself an overspender? 

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The best way to know if your child doesn’t feel neglected is to hear it from the horse’s mouth. Ask your child if they feel neglected somehow.  

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Note down areas that need improvement.  

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Check out: PARENTAL INFLUENCE ON MONEY DISORDERS

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