The holidays are a magical time for family. The kids are buzzing with excitement, the scent of home-cooked meals fills the air, and there’s this collective pause just to be together. But as a father of two girls – soon to be three- I’ve been thinking a lot about what else we can pass around the holiday table besides mashed potatoes and pie.
I want to pass on something deeper: knowledge, habits, and values that will set my daughters up for success.
You see, as a financial advisor, I spend a lot of my days talking to people about growing wealth. But lately, I’ve realized that wealth isn’t just about numbers in a bank account- its about building a legacy of wisdom that can ripple through generations. So, this holiday season, I’m making it a point to introduce some fun ways to teach our kids (and maybe a few adults) about money…. without turning the party into a financial seminar. Because, let’s face it, no one wants to hear a lecture when they’re eyeing the dessert tray!
Kids love stories, and honestly, so do adults.
The holidays are the perfect time to share family tales, but instead of just recounting funny mishaps or epic travel disasters, why not sprinkle in some financial lessons? Maybe your grandparents saved for years to buy their first home, or your parents taught you the value of hard work with a lemonade stand. These stories aren’t just entertaining; they show the younger generation how discipline, saving, and smart decisions can lead to big milestones.
Let’s talk about gifts.
Toys are great, but most of us know that they tend to lose their shine after a few weeks (or days). What if, instead of another plastic toy, we gave something that could grow over time? Consider gifting shares of stock, a savings bond, or even contributing to a 529 or custodial investment account for your kids or grandkids. It’s a gift that keeps on giving-and it’s a great opportunity to teach them about how investing works. I’ve started explaining the idea of “owning a piece of pie” to my oldest daughter Parker. It’s fun to see her face light up (confusingly) when I tell her she could own a tiny bit of Disney or LEGO. Even if she doesn’t fully understand it yet, it’s a step toward showing her how money can grow with patience and smart choices.
How about board games?
Games like Monopoly and the Game of LIFE can sneakily teach kids about money while keeping the whole family entertained. After we finish (if we finish before someone steals from the bank), I like to ask some simple questions like “What would you do differently next time?” or “Why was saving your money important?”
Ultimately, kids learn more from what we do than what we say. If we want to raise financially savvy kids, we need to model those habits ourselves. We can show our kids that money is a tool, not a goal. And the more we make these lessons a natural part of our family life – even during the holiday chaos – the more likely they’ll be to carry those lessons forward.
Let’s embrace the holidays this December as more than just family time. Let’s see them as opportunities to share values, wisdom, and habits that can shape our kids’ futures.
December 2024
