Smart Money Mamas Show

May Mailbag: Kids and Money, Aging Parents, & More

May 25, 2020

#035: Still have questions about creating your family’s unique money values? We’ve got you covered in this special Q&A style episode. 

For this episode, we asked the mamas in our free Mamas Talk Money Community on Facebook to send us their questions about family finances and family money values. If one person in our community has a question, there are no doubt others wondering the same thing. 

So if you’re still a little overwhelmed by the topics of teaching your kids about money, your aging parents and their finances, or what your specific family money values are, today’s episode will help clear things up. I’m going to be sharing my answers to questions we received about helping your teens budget, how to prepare financially for the death of a loved one, whether or not spending money on unnecessary things for your kids is frivolous or not, plus so much more. 

(02:01) How do you teach teens about budgeting as they start earning their own money? 

(04:42) What are some tips for teaching young kids about money right now when going to the store to use cash is not super practical? 

(08:41) What are some ways to prepare for the death of loved ones and make the process as smooth as possible? 

(12:57) Is life insurance for kids necessary? 

(16:58) What is the value of prepaid burial plans for adults? 

(19:18) What are some things people who are good with their finances will spend money on for their kids that aren’t entirely necessary? 

Looking for more information, mama? Visit the show notes at https://www.smartmoneymamas.com/35 

Family Money Values Template
https://smartmoneymamas.com/family-money-values-template/ 

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