Families can make financial new year’s resolutions by involving all members, including kids, in the goal-setting process. For example, you can sit down as a family and discuss your financial goals for the year and come up with a plan to achieve them. This might involve things like:
- creating a budget together
- being strategic about tax savings
- finding ways to reduce debt
- setting up a savings plan for emergencies, or
- planning for long-term goals such as education or retirement
You can also involve younger children in learning about personal finance and money management with activities like setting up a pretend budget or store, playing financial literacy games, or discussing the importance of saving and being financially responsible. By including your kids in the resolution-making process, you can help them develop important money skills and values that will serve them well in the future. We’d love to hear your creative ideas and ways you’re making this happen in your family!