“If you always do what you’ve always done, you’ll always get what you’ve always got.” ~Henry Ford

How simple and easy to relate to Henry Ford’s statement, especially when it comes to the subject of money.

As we write this in the year 2024, the world is in the topsy turvy transition between cold hard cash and thousands of digital currencies that have been developed since the subprime market crash of 2008. There are still more stories of financial hardship that circulate than those of prosperity. And it seems the stories that are being shared cause more fear, confusion and separation between all of us.

So while the majority of us are paralyzed in our decision making about money for how we are to navigate our financial future - it’s no wonder we have very little bandwidth to think about how we are to empower our children. Instead we hear and see a lot of videos and articles in circulation that it’s up to the school, banks and government to remedy this.

Well let us just say this, leaving it to outside entities to solve the ongoing financial struggles is not the solution, which is abdication. In case you don’t know what abdication means it’s - Failing to fulfill or undertake (a responsibility or duty).

Financial Abdication happens when you have decided you are not good with money, struggle with money or that it is unenjoyable to face the responsibilities of your financial experience. And guess what, it's really damn expensive to have this habit.

For us parents who Financially abdicate there is an opportunity for you to break the pattern being passed on to your children and stop it from becoming generational.

The only way to prevent financial struggles for our children is for you, the parent, to get them engaged with a cash flow management system. That way your children don’t have to live up to Henry Ford’s words. “If you always do what you’ve always done, you’ll always get what you’ve always got.”

As parents, we naturally want what is best for our children.

Let’s face it, though this is not like putting our kids in swimming lessons and we get to sit on the sidelines and watch, check our phones, or read a book while someone else teaches our kids how to swim.

No No. It’s more complicated.

It’s complicated by our own:

• History with money

• Relationship with money

• Our values & beliefs

• Ego - competence

• Guilt

• Shame

• Lack of knowledge or too much knowledge

• Avoidance

• Lack of it, no matter how much we make

• Judgements

• etc

Parents often avoid discussing financial problems and choices around money to hopefully protect their children from life's challenges. Yet the result of avoiding discussions like this have a tendency of getting expressed in other ways such as: weird passive aggressive ways that often comes across as short tempered, moody or statements of a survival mindset.

Although the non-discussion approach seems protective it can actually be counterproductive in helping our children overcome financial hardships later on in life. Because all they get to witness is the parents' struggle.

So how can we as parents lead our children to become empowered around money when we as parents have to overcome a lot ourselves?

First of all, you have to be the ones to decide right now that you are willing to get out of the way and let them thrive.

Money has long been deemed a forbidden subject when it comes to discussing it with your children or anyone else. To ensure our kids have a strong financial future, we must push past our own stories and complications with money so we can actively lead our children about finances in a way that they can embrace now, rather than putting it off and hope that they learn from their own mistakes or worse take the advice of entities that care more about their bottom line disguised to appear that they care about your family’s future.

Start Early, Start now!

Get excited to embrace new approaches, and engage in open conversations with our children about money. By the time they reach age 7, most of their money habits will be formed. Hence, it is crucial to start teaching your kids about money management at an early age (so you don’t have to help them break the bad habits) even starting at the age of 3, and encouraging them to be asking questions. First, it’s important to establish a psychologically safe atmosphere that will make them feel at ease sharing their thoughts, goals and worries. In doing so, it makes it possible to build a sense of trust that will encourage them to seek our guidance throughout their lives and put a halt to common “money hostility” conversations.

But, Winnie & Emaghea, what if I feel like I’m the last person to be teaching my kids about money?

In reality, many adults struggle with effectively managing their finances. If we don't talk to our children about our financial problems and decisions, we will keep managing money poorly. Children learn primarily through observation and practice. If kids don't learn about good money habits and aren't part of money discussions, they might copy bad behaviors later on.

In fact, it is empowering to be one of those parents who are struggling financially - and use it as a great opportunity to demonstrate to your kids that if you don’t like how you are feeling you can do something to change that. I know this to be true because I was a financially struggling parent that did this and I do feel empowered.

You can create a safe environment to help them make their own financial choices. This way, they can learn about the consequences of their decisions without facing long-term consequences. Starting early allows them to learn from small errors, avoid common pitfalls, and make more informed choices regarding their finances. It’s so so so important to be there to cheer your kids on when they feel discouraged. You are the only ones that will get these moments to witness and hear what they have to say when they succeed and fail with money at this early stage.

There is such an incredible opportunity you have as a parent to overcome and gain financial momentum in your own family by saying YES, this is something I want to do for my kids right now, when my kids are young.

Discover the joy, gratitude, enriching moments that bring epic satisfaction in the process of starting now and starting your kids young. Any feelings of overwhelm, will disappear under the creation of this experience. Do it differently than your parents did for you, and do it great!

The more you INVOLVE them,

the more they get INVOLVED.

Including our children in conversations about money at home helps them understand that it's a natural part of everyday life. Examples of this would be - showing them how you pay your utilities, phone bill, rent & explaining to them why you are at the bank taking out or putting in X amount of money.

Involving children in activities related to earning and managing their money helps them become more independent and confident. It also teaches them good financial habits, so they can make those smarter decisions.

Allowing them to make their own financial decisions, even if they make mistakes, gives them a safe space to learn and grow before facing bigger consequences as adults.

A great way to onboard your child into the world of money so they can control their own finances, check out our Cash Smart for Life Program. It’s an online program for parents to lead their kids ages 3 to 12.

This program allows parents to happily watch their children manage their money & make smart financial decisions in 5 weeks, so you are confident in knowing that your children won’t depend on you financially when they move out.

This is a great way to crush financial abdication and take control of your children's financial future.

Ensuring Enjoyment around Money

Each household has its own financial culture. What forms a part of the culture is created by the statements or declarations that are made in connection to money. Such as:

• “I’m worth more dead than alive”

• “Just living paycheck to paycheck”

• “No, you can’t have that, do you think I’m made out of money”

• “If we buy that we won’t have money for x,y,z”

• “No matter how hard I work, it just goes to somebody else, can’t get ahead”

In addition to the things that we say, it’s how we are responding to money in front of our children that they are paying attention to.

Could look like:

• anger

• frustration

• stress

• arguing

• blame

Unfortunately most of the time children witness parents arguing about money which is the top reason for divorce.

It does NOT have to be this way for your children.

Rather it can be a whole different experience that is made up of:

• Daily conversations and family interaction

• Watching your kids experience delayed gratification

• Setting financial goals - reaching goals

• Practicing CashFlow Management

• Helping them to practice decision making

• Competing as a family to reach those goals.

Our CashSmartForLife Program offers a totally unique and different approach for coaching parents to lead their kids to understand finances, including savings goals, charitable giving, and many more. When children and parents engage in meaningful discussions about money, it leads to ensuring the enjoyment around money.

Which then redefines what their experience will be, rather than just adopting what was previously shown to them.

Get Locked and Loaded

The power of early financial education for our children begins with us as parents. Teaching our children about money management from an early age is not merely a task; it’s a transformative journey that can set the foundation for their future financial independence and success.

By addressing our own financial habits and actively engaging in open, honest discussions about money, we provide our children with invaluable lessons that go beyond traditional education. As we embrace this responsibility, we break the cycle of financial abdication and empower our children to navigate their financial futures with confidence and competence.

It's essential to start early, making financial education a natural part of daily life. Whether it's explaining the process of paying bills, involving children in budgeting, or encouraging them to set and achieve their financial goals, these actions instill a sense of responsibility and independence. By fostering a positive and open financial environment, we not only enhance our children’s financial literacy but also build a trusting and communicative family culture.

Imagine the joy and fulfillment that comes from witnessing your children make informed financial decisions, avoid common pitfalls, and achieve their goals. This empowerment leads to a generation that is financially savvy, resilient, and ready to face the challenges of the modern world.

So, take the first step today. Embrace new approaches, engage in meaningful conversations, and most importantly, lead by example. Your dedication to teaching your children about financial management will not only benefit them but also create a lasting legacy of financial wisdom and stability for generations to come.

Remember, the more you involve them, the more they will get involved. Let’s ensure our children grow up with the knowledge, skills, and confidence to manage their finances wisely. Say yes to starting now, and give your children the gift of financial literacy that will serve them for a lifetime.

If you want this for your family and need a step by step process with guidance along the way on solidifying this outcome for your family, we have an offer to give you that is truly hard to turn down in the CashSmartForLife Program.

To our Family’s Financial Prosperity for generations to come!