Lesson 8

Explain borrowing and credit

Debt often plays a huge part in one’s physical and mental health throughout adulthood. It is crucial to develop financial literacy around borrowing in your children. This lesson allows a conversation about using credit as a financial tool in their everyday life, ensuring have an understanding of credit before they started using it as a vehicle to manage their finances.

1) READ THE CHAPTER

For information and a deeper dive into having money talks with your kids. Read the chapter with relevant financial literature to give you a sufficient foundation on the topic. Order your copy of the book below.

2) LISTEN TO THE PODCAST

Listen to this lesson’s episode where I’ll walk you through the questions to ask your kids during the conversation as well as the likely responses you’ll hear from them.

3) SEND THE TIKTOK

Send this video to your child, so you can set the stage for the topic you’ll be discussing, in a language they understand.

4) HAVE THE MONEY CONVERSATION

Use your printed one-page conversation guide and enjoy the dialogue with your family to get them financially launched. Now’s the time to discuss and start the conversation.

5) WATCH THE MASTERCLASS

Watch the quick masterclass on this topic presented by Tom Henske, Founder of Total Cents, available only in the Total Cents Masterclass.

The Total Cents Masterclass includes:

• All resources above plus
• One masterclass per lesson
• Easy access to all 12 lessons in one place

just $47