Children notice everything, whether you think they’re paying attention or not.
They repeat the curse words you blurt out when you step on a toy or spill your embarrassing family secrets to their friends.
From a surprisingly early age, the kids in your life also notice money: who has it, who doesn’t, and how your household handles it compared to other people. They overhear arguments and pick up on stress.
With every financial decision, you set an example.
“You are a mirror and your kid is a sponge,” says Jordan Wexler, co-founder and chief executive of EarlyBird, a registered investment advisory company where parents can open custodial and college savings accounts for their children.
So, no pressure, but modelling positive money behaviour for all the children in your life is important, whether you’re a parent, relative or close family friend.
It starts with figuring out your own approach to money and then providing age-appropriate lessons.
Establish your household values
It’s hard to teach another person how to spend, save and donate money when you haven’t set your own goals and priorities.
Maybe you want to set an annual budget for charitable giving, or you save slowly for upcoming expenses to avoid credit card debt.
All of these decisions tie back to what you (and your spouse or partner if you have one) truly value.
Kelly Palmer, founder and chief wealth officer at The Wealthy Parent, a registered investment advisory company providing financial planning for new parents, recommends that families with a mother and father demonstrate that both parents, not just the father, are financial decision makers.
“It’s important for children to see women involved in these conversations,” she says.
Being confident in your decisions makes it that much easier to explain your thinking to a child, and you can use your choices as a way to start thoughtful conversations with your children.
Involve children and provide context
Trips to the store, calculating the tip at the end of a dinner out, planning your summer holiday – these are all opportunities to talk about money and values.
But when you’re running errands in a rush, sometimes you just want to brush off your children’s incessant questions and move on with your day.
You don’t have to have a financial conversation in the sweet aisle while convincing an irate child that chocolate isn’t on your shopping list.
But you can always revisit the topic later when things are calmer and the memory of the unbought chocolate isn’t as fresh.
Providing context helps children understand why you’re making a specific choice – why you buy a certain brand of toothpaste even though it’s more expensive (sensitive gums), or why day camp is possible this summer but sleepaway camp isn’t (so you can also afford a family trip over winter break that year).
Inviting children into the push-and-pull of your daily money decisions shows them all the factors that are involved in making one seemingly simple money choice.
When they’re adults, they can use those lessons in their own lives.
“One of the hardest things, and the easiest things, that we tell kids is ‘we can’t afford that’,” says Mary Carlson, a certified financial planner who is president and founder of Financial Behaviour Keynote Group, a speaking, consulting and education company.
“It’s a missed opportunity to have a conversation about that.”
Acknowledge the comparison trap
Children notice when other people live differently. Their cousin has more toys, a friend from school lives in a bigger house, or a neighbour goes on holiday every summer.
They might push back on your value system when they see others getting the things they want.
“When they’re out in the wild, if you will, they’re going to be exposed to all sorts of emotions around money,” Ms Palmer says.
When your child asks for something you weren’t prepared to pay for, don’t dismiss them, says Ms Carlson.
Ask them about why they want that item or experience. Talk to them about the cost.
Older children might be willing to save up their allowance to contribute, which provides a great lesson in saving over time for a big purchase.
The important thing is to show your children that they can come to you with a money question and be taken seriously.
“At the end of the day, it’s really not about money. It’s about the emotional connection with your children,” Ms Carlson says.
“It’s about showing you care regardless of what you do or don’t have.”
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Mohammed bin Zayed Majlis
SM Town Live is on Friday, April 6 at Autism Rocks Arena, Dubai. Tickets are Dh375 at www.platinumlist.net
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Fixtures
Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am
Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am
Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am
Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
ENGLAND SQUAD
Goalkeepers: Jack Butland, Jordan Pickford, Nick Pope
Defenders: John Stones, Harry Maguire, Phil Jones, Kyle Walker, Kieran Trippier, Gary Cahill, Ashley Young, Danny Rose, Trent Alexander-Arnold
Midfielders: Eric Dier, Jordan Henderson, Dele Alli, Jesse Lingard, Raheem Sterling, Ruben Loftus-Cheek, Fabian Delph
Forwards: Harry Kane, Jamie Vardy, Marcus Rashford, Danny Welbeck
Afghanistan squad
Gulbadin Naib (captain), Mohammad Shahzad (wicketkeeper), Noor Ali Zadran, Hazratullah Zazai, Rahmat Shah, Asghar Afghan, Hashmatullah Shahidi, Najibullah Zadran, Samiullah Shinwari, Mohammad Nabi, Rashid Khan, Dawlat Zadran, Aftab Alam, Hamid Hassan, Mujeeb Ur Rahman.
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
KILLING OF QASSEM SULEIMANI
The five pillars of Islam
Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test India won by innings and 53 runs at Colombo
- 3rd Test August 12-16 at Pallekele
Company%20profile
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
World Series
Game 1: Red Sox 8, Dodgers 4
Game 2: Red Sox 4, Dodgers 2
Game 3: Saturday (UAE)
* if needed
Game 4: Sunday
Game 5: Monday
Game 6: Wednesday
Game 7: Thursday
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
The Saga Continues
Wu-Tang Clan
(36 Chambers / Entertainment One)
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
