As an effort on promoting family harmony, I request my wife and my 9-year-old son to sit down together to have monthly family meeting at least once a month. In the meeting, I especially encourage my son to express his view on our teaching methods, his opinion on family matters, his feeling as well as his proposal and suggestion. The main purpose of the meeting is to clarify all doubts. All the rationale on action taken is clearly explained. The bottom line is that all family members understand everyone’s thinking and feeling to support family harmony which is invaluable in monetary term.
Have I achieved this objective? Well, I have carried out total 3 family meetings so far for the past three months and I observe attitude change of my son. He is more willing and daring to express his view and/or to clear his doubts. He understands the rationale of family policies. He becomes happier and confidence. I am glad to see these.
Have you talked to your family members lately?
Nice family policy. We would like to become financial freedom also because of our family members. So if we neglected our family when persuading wealth, it is meaningless in the end.
ReplyDeleteHi Lai,
ReplyDeleteGood tips. I do not have children yet (going to, soon) but I do have regular monthly meeting with my wife regarding financial. As family's CFO, I roll out monthly budget every month and discuss with my wife what I forgot to include and what I can take out. We also discuss about cost saving projects and investment projects. Then we come out with plan of actions like when to do monthly major shopping, when to go to banks/offices, when to send car to service and so on, and who is going to execute it. We monitor our actual expenses against our budget expenses from time to time to see whether we are doing better/worst than what we've planned - this involved several mini discussions.
Will include my children next time, when they are ready; and perhaps include non-financial too. There are many benefits to it e.g. make them feel that they are also important members in the family that their opinions are heard; make them feel confident of themselves; indirectly teach them problem solving skills; and teach them financial literacy.
Thank you.
Best Wishes,
Ian Kree
Thanks, Ian.
ReplyDeleteRecently, I start to discuss other non-monetary items with family members and realize that their ideas are really fantastic.
Yes, you are right. In a way, we, as parents, are teaching our kids on problem solving.
Thanks for sharing.