Money Mentoring Team for Your Kids

Kids report that parents find it easier to discuss drugs and sex with them than money. Which is to say the conversations rarely happen. Building a Money Mentoring team is one way to get the subject on the table and in the real lives of your kids.

The idea is simply to identify a group of people with whom you can barter time: ask them to spend a couple of days a year with your kids (a team of six can translate into 12-18 days of money talk a year for your kids) to whom you can offer a service in return-maybe a gift certificate for a massage or a great bottle of wine will do the trick.

  • Do you have a friend who raises money for non-profits and can talk about the world of philanthropy?
  • Do you know anyone who works in mortgage loans, or commercial credit? Ask them to take your teenager for an afternoon to visit a house that is being sold and talk about how the mortgage process works.
  • How about the parent you met at the last PTA meeting who mentioned they're in charge making sure their company's benefits are 'family friendly.' How about asking them to talk about what a family friendly benefit IS?
  • Or think about successful entrepreneurs you know-would they talk about their life choices with your kids? Can they talk about corporate life vs. the entrepreneurial life?

Every family will create a different team. You might organize your best friend, a grandparent, your investment advisor, maybe an aunt and a co-worker all to be on the team. Your best friend might recruit her father, a co-worker, a favorite teacher. Whatever the particular make-up, the idea is to create an extended family of money mentors who will, over time, reinforce key values and expectations, offer a cumulative set of money skill building experiences, and take the pressure off you as the only source of your children's financial education. That team is part of the 'village' required to raise a child.

Making the Team Work... (for the full text of the article visit Independent Means's website: or call 800-350-1816.

© 2007, Independent Means

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Some people think they are worth a lot of money just because they have it. - Fannie Hurst

Independent Means, Inc. sets the standard for innovative resources for Raising Financially Fit Kids. Your kids are developing views on money through your actions! This month, make a note to talk about hidden costs - the price of that trip or the car or club membership that DOESN'T show up on the price tag. Source:


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