We live in a global society. The United States is a very typical example of a country with multiple cultures, since there are a lot of immigrants from all over the world bringing here various culture and values.
There are common values among the world; however, there are some fundamental differences as well. We suggest parents advise their kids using the following ways to handle culture conflicts in an effective way.
Respect different cultures, which is crucial for resolving culture conflict
Be open and willing to accept other people from different cultures, make friends with them
Find common ground, use common values
Know your values and be aware of the differences with other values
Be open to possible alternative ways to implement your values
Put yourself in others’ shoes, and try to understand them
Try to understand a culture from a big picture, do not blame all because of one
Money plays an important role in our everyday life. Parents should teach kids about money. Educate and help kids to understand money values and help them build good money habits. A solid money education is one of the best tools we can give our kids. It will help them the rest of their lives. The following are some suggestions to help parents to educate kids on money.
Teach kids about money as soon as they can count Long before most kids can add or subtract, they become aware of the concept of money. A 2-year-old knows that in order to buy ice cream he or she needs money in a supermarket. It’s important to work on the kids’ financial awareness as early as possible, because once they become teenagers, they are less likely to listen to and consider parents’ advice.
Teach kids how money works Kids need to know how money works, the basic ins and outs of a family economy. Tell kids that money comes from parents’ hard working. We use money to pay bills. As they get older, we can teach them about credit cards, bank interest, and so on.
Teach Kids about Money and Help kids learn the differences between needs and wants This will prepare them for making good spending decisions. It is important to meet the kids’ needs, while to guide them to set their needs apart from their wants.
Teach Kids about Money Using an allowance as a teaching tool Giving kids an allowance is one good way to help them understand the value of money. Guide them on money saving, spending using the allowance.
Teach teenagers on checking accounts, credit cards, and debt Teenagers and college-age kids have bigger responsibilities, prepare for their independence.
Teach teenagers about investing
High school kids can and should be taught about the risk of market.
Teach Kids about Money by Establishing a regular schedule for family discussions about finances
With teenagers, it is useful to discuss what’s happening with the national and local economies, and then discuss how to economize at home, and alternatives to spending money. Parents should disclose information and provide guidance that is consistent with our values and beliefs. It is often better at providing information about the facts of life than just talking about what matters more.
Get support from family members and friends It easier and efficient to teach kids values when get the support and guidance from family and friends.
Let kids learn right from wrong Parents do not feel disappointed and frustrated, if the kid sometimes behaves in a way that differs from our standards, as long as he or she does not do it regularly. Although bad behavior needs to be recognized and dealt with, kids will learn from their failed experience.
Having money is crucial to obtain some things we need in life, while money is not everything. I like what Suze Orman says “People first, then money, then things.” For kids, learning how to think about money and manage it wisely is an important life skill. As parents, we hope that our children will grow into financially responsible adults and have a secured fanatical future as well.
Financial experts agree that understanding cash, credit, and consumerism is possible, and important, for building a sense of financial responsibility in children. If parents don’t teach money management skills at a young age, usually when the child starts getting an allowance or has a part-time job, money problems may occur, and even lead to the consequences for his or her life-time. Parents should take the time to teach children about money regardless of income and should start when children are young.
In the next several posts we would like to focus on kids and money, talk and discuss some helpful guidelines and suggestions for parents to teach kids about money. We will provide general background and outlines by age group and stage of development children’s understanding and use of money as well as conflicts about money. We also identify activities parents can use to teach children about money, covering earning money, saving money, spending money, and borrowing money. Try to answer some questions, such as “What kind of things should I teach my kids on money?” “How can I teach my kids about money?”