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Pillars of Security: Stable Family Finances
Last week we started discussing the “pillars of security” a father provides his family.
We kicked things off with physical security. This boils down to your kids seeing you as someone who can care for and defend them when necessary.
The next pillar of security is financial. This is not so cut and dry.
Kids really don’t need much.
They need food, shelter, clothing, the opportunities to grow and learn and a whole lot of love.
Some of the most important things they need are completely free.
But, here’s what makes this complicated: Whatever your thoughts and feelings are about your finances will rub off on your kids.
If you’re not sure how you’re going to make rent, your kids will feel that anxiety. They might not be able to articulate why. They are little emotional sponges, picking up whatever is around them.
We all go through difficult financial times occasionally. But, if you are constantly worried about money you should re-examine yourself and your relationship with money.
If you’re living paycheck to paycheck it’s hard not to be stressed.
A good place to get started is to budget, eliminate whatever debt you can and start building an emergency fund.
If you’re out of debt, have several months worth of expenses saved and make enough to cover expenses while investing but still feel stressed about money, it’s time to take a deeper look into your money stress.
Many of us grew up in homes where finances were a struggle. Our parents had scarcity mindsets that we inherited but this can stop with you. After you meet your real financial needs, it’s time to recognize what abundance we live in.
Your kids' relationship with money will be more caught than taught. Setting yourself up to feel secure about your finances and working on your attitude towards money, can’t help but benefit them.
The best first step to providing financial security for your children is to have a budget. YNAB (You Need A Budget) is my favorite budgeting tool. If budgeting is a struggle, and you haven’t found the tool that works for you yet, I highly recommend giving YNAB a try.
Use my referral link and we’ll both receive a free month of YNAB.
Let’s be firm pillars of security for our children together.
See you next Monday.