"Mom, what's inflation?" Here's Your Answer
👇 Podcast: Parenting Your "Nearly Grown" JUST. GOT. EASIER.👇
#95: Can you teach your "nearly grown" about inflation. (Yes, they need to know.) Here's how.
Does the topic inflation need to be difficult to cover? No. The lessons they need to learn are so important. It affects so many of the decisions they'll need to make on their own. Teach 'em the basics now. Here's a simple explanation, and an easy to use example
AND 5 "what now" steps
If you opened your wallet and there was less money in it than you expected, you'd want to know why.
You'd want to know how.
You'd want to know how to to prevent it from happening or at least slow it down.
Your "almost grown" child needs to know it as well.
Soon they will be managing their own money and their own budget. Every drip of knowledge and advice you can slip into their still-forming brain is helpful.
Every type of economy presents unique money lessons. Today's world is no different. What's that phrase that politicians use? Never let a good crisis go to waste? Let's modify it and say "never let a learning situation go to waste".
As I type this, we currently have "inflation." Just the word itself on one hand seems easy to understand yet ridiculously hard to understand on the other.
This podcast is designed help you discuss the basics with your almost-out-the-door child. There is no need to be overwhelmed by this topic, nor to be hesitant in covering it. Let's just simplify it.
After listening to this podcast, you'll be able to:
- explain what inflation is
- give them an easy example to illustrate how it works
- and 5 ideas to lay groundwork on how to avoid or reduce potential inflation
- take the word "inflation" and turn it into something understandable
- give them more confidence when they encounter inflation as an adult
A quick overview: Listen Here
When our kids learn that they are the boss of their own money and magically disappearing pixie dust is not in charge, you my precious parent will have given them one of the most valuable lessons EVER. Seeing their brain light up when you give them tools to better control what goes in and goes out of that purse or wallet? That's good stuff.
Yes, You CAN Have Success in the Middle of it ALL
Show Link Mentioned: BIG LESSON: Costs vary by city. Think thru college cities and job offers carefully
Pam Hardison, MBA, BBA in Finance and Business Education, has created and co-owned a national mail order catalog which at one point was the 21st fastest growing customer base in the nation. As a mom of two post college daughters, she considers it a privilege and to meet other students and parents along the same road. After teaching high school and college students for years, her commitment to helping them with topics most schools can't cover is the light that drives her.
Holly Powers, Attorney-At-Law (Jameson & Powers, P.C.) has been actively practicing law since 1985 and is a shareholder with the law firm of Jameson & Powers, P.C. The firm specializes in transactional law, health care law, and general business law. Holly has taught students precepts concerning the legal world for over 10 years. With 4 children, she understands what teens need to know and has a passion to help others faced with teens and aging parents.
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Photo by Karolina Grabowska
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