Put A Cape On Ms. Taub!
When we began writing this post, we seriously considered using the word hero in the title – but worried it was too dramatic. That said, heroes are admired for outstanding achievement, and Robin Taub has accomplished something that we at Gifting Sense presently describe as part of a dreamy future reality: she has an adult child who thanked her for making her a money-smart kid! Forget the CPA designation, best-selling book, or career as a sought-after thought leader. Let’s say it again, she has an adult child, who well before her 30th birthday – understands that her Mom did her a solid – by teaching her about money. Cue the band! Do we need to give you any more reasons to read “The Wisest Investment”? Its’ clearly written descriptions of why taking the time and effort to have the hard conversations with your kids about money, have a live ambassador.
How can our favourite word in Robin’s new book be “when”? Remember “Schoolhouse Rock”? Adverbs matter! And the simple adverb “when” is where talking to kids about money begins for Robin. She summarizes her roadmap for giving young children money-smarts, with the importance of making sure that they understand “…when you earn money, you have choices: save, spend, share, and invest.” At the Gifting Sense project, we too think it is critical that children understand choices come after earning money, and not before.
Of course, her follow-up statement, that “It’s important to choose well, because once the money is spent, it’s no longer available for other things” lies at the very core of what we do. We help children realize the trade-offs that choosing one purchase over another actually impose on family budgets. We let kids experience the power of thinking before buying – without spending a dime.
It is subtle wording, “…when we earn money, we have four choices: to save, spend, share or invest it”, but critical. Because one of the easiest ways to live within your means is to understand that choices come after you earn money, and not before.
Wondering what money values or habits you are modelling for your family? Check out the Role Model Self-Assessment. Are your older kids wondering how to create the life they dream of? Have them start to untangle what they really enjoy, from what society tells them they should, by completing the Values Validator Quiz. These are just two examples of the type of grounded and practical tools Robin gives her readers.
Check out the Role Model Self Assessment or Values Validator Quiz. These are just two of the super helpful tools Robin gives her readers.
So Ms. Taub, you’re just going to have to get a cape and wear it proudly. In our little corner of the world, you are indeed a hero. You didn’t only describe what is possible when parents invest in their children’s financial literacy, your daughter showed us how those lessons can manifest – in a small (but super exciting for financial literacy geeks) shout-out on LinkedIn. Hip Hip Hooray, wise Moms win the day!
To learn how to give the young people in your life the habit of thinking before buying, click on the pink or green buttons below.