Janie’s got a ... credit card?

Louisville, KY, July 2012:  As Americans try to spend less and go on a budget this provides an opportunity to teach the next generation financial principles they may never have seen in the prosperous years they have been alive. Local tax expert, Kevin Roberts, CPA, offers three principles for teaching children about money.

Tip #1: Talk about money

“Every time money is involved, parents have a chance to teach their children the values and analysis behind their actions. Money should never be the primary topic of discussion, but it is one of the most important topics through which we communicate our wisdom and values to our children. Every purchase, investment, or donation can be a time to teach your children something about your values,” Roberts said.

Tip #2: Talk openly about money

“Parents make a mistake when they keep information from their children. The only way children learn what is a good deal and what is too expensive is by the experience of what their family earns and what items cost. Hiding this information robs children of the financial education they need,” according to Roberts.

Tip #3: Talk factually about money

“Many parents have strong emotions about money, based on their childhood experiences,” Roberts points out. “ These emotions are always transmitted to children. Instead of helping children, they can cripple children from growing to make sound financial decisions.”

Some may disagree with all of these admonitions, but the hope is that this will help you begin thinking about how your wishes get passed down.

Kevin Roberts, EA owns Roberts CPA Group, with three locations in Louisville and surrounding areas. His team provides individual tax services and accounting support to families and businesses in the Louisville area. Give him a call (502) 426-0000, email kevin@roberts-cpa.com or visit his website http://louisville-tax.com/.

Contact Information

Kevin Roberts

CPA

Roberts CPA Group

(1) (502) 426-0000

kevin@roberts-cpa.com