In a recent post, I shared some thoughts regarding how parents can communicate with each other when it comes to financial decisions during the stage of family life when young adult children are leaving home.

Of course, this kind of communication often falls into the “easier said than done” category of conversations. But what facilitates these sometimes difficult dialogues so that they, in fact, get “done”—and done more easily and effectively—entails taking a closer look at the history of our individual relationship with money.

Individually or collaboratively composing a “fiscal autobiography” is one way to erase some financial blind spots and enable the two of you to consider and discuss money matters with greater depth and open-mindedness, raising the odds that your young adult child(ren) will be able to do the same:

You can start by taking a look at your conversational past:

The next step entails an examination of your childhood, adolescent, and young adult memories of family-based money discussions. Thinking about these questions can help to “break the ice” on a subject that can arouse considerable edginess or twitchiness for most of us:

When it comes to your personal history with money, here are some questions to consider reminiscing about and talking over with your parenting partner:

Having thought and talked about some of the questions above may make it easier to understand why parental communication regarding finances has not gone as well as it might and/or how it might go even better. With this in mind, the two of you might want to reflect upon these final questions:

For many reasons, there remains an enduring taboo in our culture when it comes to discussing money. But submitting to taboos and staying muted or silent regarding financial matters prevents us from understanding what money means to us and how to use the money that we have in ways that are healthy and growth-promoting for the entire family.

QOSHE - How Money History Can Eliminate Money Mystery - Brad E Sachs Ph.d
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How Money History Can Eliminate Money Mystery

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02.05.2024

In a recent post, I shared some thoughts regarding how parents can communicate with each other when it comes to financial decisions during the stage of family life when young adult children are leaving home.

Of course, this kind of communication often falls into the “easier said than done” category of conversations. But what facilitates these sometimes difficult dialogues so that they, in fact, get “done”—and done more easily and effectively—entails taking a closer look at the........

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