Family finances can be a major factor in the success of your family. Just like you model your relationships, your education and work habits, you have to model how you handle money for your children to set them up for success. I talked with Carmen of Money Choices Today about all of this.
How to Successfully Manage Family & Finances Together– this is all about getting everyone on the same page and creating efficiencies in the money management process.
We discussed a full plan for success:
- get everyone on the same page – sit down as a family, include the children
- come up with family goals
- family money mission statement
- responsibilities and jobs for each family member
- have family money meetings with the children there