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What Are You Sowing?


With your newfound get-out-of-debt plan, you’re going to pick up new lingo as well. Over and over you might hear yourself saying “we cannot afford it” to yourself, your spouse, and most likely your children. You are right on the money, but there are better ways to say it–always speak in the positive. And be especially careful what you say around your children.

According to an article by Salish Wealth Management (https://www.salishwm.com/2019/09/do-you-understand-your-emotions-about-money/), we learn our money habits at a fairly young age by observing our parents. “The seeds of money scripts are planted in childhood, watered by observation, and eventually grow to influence your emotional beliefs about finances as an adult.” How you deal with the situation and what you say  about it will make a huge impact on your children’s financial wellbeing.

Instead of telling anyone “we cannot afford it,” try this: “We are choosing not to spend our money on that right now." You can also tell yourself, "We are choosing to get out of debt. ” I don’t suggest hiding your new financial plan from your children. If you tell them what is going on in terms that they can understand and show them ways they can help (turning off unused lights, not asking for extras, thinking about wants versus needs) then they might even get excited about the prospect of working with you on this.

And don’t we need all the help and support we can get?

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