Last night our middle daughter helped me to make dinner. She peeled and cut the potatoes while I prepped the schnitzel. During that time we did more than just prepare dinner. We talked.
She had questions about credit cards, loans, mortgages, interest rates, RRSP’s, and taxes. Interesting topics for a girl about to turn 14. But ones that I tried to explain over dinner prep.
It made me realize that money is a topic that isn’t taught as well as it should be. Even I don’t always think clearly about my spending.
Sometimes I spend frivolously. Other times I save pennies. But the hunt for big payouts and wads of cash are long since behind me. I work because I enjoy my job and it pays very well. Our mortgage is being paid down and one day we should be debt-free.
Explaining to our daughter that some debt is “good debt” was important. Telling her to save up and buy products without going into debt is also important. Having to explain taxes, sucked, but is important as well.
I hope that our daughter understands a bit more about finances now. As well, she made good mashed potatoes for dinner.