By Tim Kowols
Parents often find it difficult to talk to their kids about money and finances. According to a 2017 T. Rowe Price survey, almost 70 percent of parents are apprehensive when it comes to talking to their kids about money. Kids know more than you think about your financial situation but may lack the context to completely understand. Gay Pustaver from Money Management Counselors advises parents to bring the conversation down to their level if they are asked about it.
Pustaver says the first step to take is to talk to your spouse about how you and your families approached money growing up before tailoring the conversation to your kids. You can listen to the entire Money Management Monday interview with Gay Pustaver online with this story.