How to discuss finances with children at different ages
Full show notes on the blog here.
We have covered some ground on the topics of Accountability and Personal Responsibility. These ideas are important to a free society. Stemming from these topics is the concept of fiscal responsibility. That term is most commonly used when discussing government finances. Unless you have been living under a rock you know that balancing taxation and spending are not exactly the strong suit of our government.
According to the Congressional Budget Office the US government budgeted for revenue in 2021 of $3.8 trillion with spending budgeted for $6.8 trillion. Quick math, that leaves us saddled with debt in the amount of $3 trillion. According to the US Debt Clock our national debt is more than $28 Trillion as of 7/31/2021, and rising as we breathe.
Are your kids aware of government spending- State or Federal? Do you have discussions in your home?