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The following post is by MPFJ staff writer, Travis Pizel. Enjoy!
- Financial irresponsibility and debt can affect more than just you. Your debt can affect your significant other, your children, and everyone around you. I felt like a failure kneeling beside my son’s bed telling him he wouldn’t be getting his allowance for awhile.
- Never walk away from your debts. You may not be able to pay right now. But hopefully, you’ll be able to eventually. Plan for it and make it happen. Even if your debt is to your 10 year old daughter.
- Watch me fail, then watch me overcome: Our kids don’t know the specifics or the numbers, but they know we’re in a Debt Management Plan. They’ve watched us fail. But more importantly, they see us fight back and overcome those failures. They’ll watch us pay them back the owed allowance, and they’ll be a witness to the day when we make that final payment and be rid of our credit card debt.
How about you all? What financial lessons are important for you to teach your children? What strategies do you use to facilitate those lessons?
Share your experiences by commenting below!
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