Monthly Columns
Talking to Kids About Money
Provided By: Lanny Joseph Ribes, Northwestern Mutual Financial Network
In homes across America, families are going back to the basics – they’re working on reducing debt, re-establishing emergency funds and paying attention again to their savings and retirement accounts.
April is Financial Literacy Month, so it’s a good reminder that we shouldn’t overlook our kids in these rebuilding activities.
Time and again, polls have shown the influence of parents on the money habits of kids. A new poll conducted by the Northwestern Mutual Foundation’s financial literacy web site, Themint.org, confirms this influence. The poll asked teens to choose who had the biggest influence on the way that they saved or spent money. In a landslide, seven out of ten kids aged 17 and younger said “parents” swayed their actions the most, outpacing “friends” (16%), “TV, magazines, books, radio or celebrities” (14%), and “teachers” (1%).
Experts say one of the best ways parents can help their children, younger or older, to understand money is to talk about it and demonstrate good habits. But, pun totally intended, this is easier said than done. Some parents don’t feel comfortable talking about money.
Themint.org suggests parents use everyday experiences to start these conversations (of course, without preaching or lecturing). For example:
Recognize opportunities to educate
- When watching TV with younger children, play devil’s advocate to the ads that bombard them – help make them more discriminating of what they see.
- When traveling in the car, use the time to comment on the commercial messages emanating from billboards and stores.
Use shopping trips to teach financial lessons
- Talk about why you choose one product over another – describe details about value, quality, ingredients, etc.
- Explain the steps you take to economize, trade-off and make choices.
Make bill-paying a learning experience
- Link utility bills to actions – like running water, lights, TVs and computers.
- Demonstrate the impact and effect of large, unexpected expenses on the overall household budget.
Talk about the cost of living
- Payday is a good day to show kids the effect of deductions – for taxes, insurance, retirement, etc. – and that no one gets to bring home all the money they make.
- Talk about the role of taxes in supporting the community – its schools, roads and services.
Each stage in your child’s life presents new challenges and opportunities for helping them learn to make good financial decisions. Like measuring growth in inches, start setting goals for your child and track their financial progress.
For example, the preschool years are a good time to introduce the piggy bank and simple money concepts. Ages 7 to 13 might be a good time to introduce and allowance and the principles of earning and saving. High school is when to increase financial responsibilities, explain protection against risk and talk about safe debt levels. As they go off to college, it’s important to address the advantages and disadvantages of credit cards, explain good and bad debt and encourage the idea of “pay yourself first”.
For more information on how to talk to kids about money, visit Themint.org
Article prepared by Northwestern Mutual with the cooperation of Lanny Joseph Ribes. Lanny Joseph Ribes is a Financial Representative with the Northwestern Mutual Financial Network based in Glen Carbon, IL for the Northwestern Mutual Life Insurance Company, Milwaukee, Wisconsin. To contact Lanny Joseph Ribes, please call (618) 791-0471, email him at lanny.ribes@nmfn.com or visit his web site at LannyRibes.nmnfn.com.
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Dear Editor,
Domestic Violence within Macoupin County is prevalent. It is destructive and can be both physical and psychological. It can affect anyone of any age, gender, race, or sexual orientation. It may include behaviors meant to scare, physically harm, or control a partner. While every relationship is different – domestic violence generally involves an unequal power dynamic in which one partner tries to assert control over the other in a variety of ways. The following statistics are all according to the National Coalition Against Domestic Violence.
We can see domestic violence inside the home: through the use and control of household pets. In one study, 85% of survivors who experienced co-occurring animal abuse reported that the behavior of their pets had changed. An even higher percentage of survivors who reported partners had harmed or killed their pet, have also reported their partner for domestic violence. We can also see an increase usage of firearms within the intimate partner violence home. A survey of contacts by the National Domestic Violence Hotline found (of those with access to firearms):
- 10% said their abusers had fired a gun during an argument.
- 67% believed their abusers were capable of killing them.
We can see domestic violence inside our schools: as partner violence is not exclusive to the home. There are many instances of violence between dating partners that begin in high school. Nearly 1.5 million high school students in the United States are physically abused by dating partners every year. Within those relationships, 13.4% of male high school students report being physically or sexually abused by a dating partner.
We can see domestic violence inside our community: Macoupin County provides a specific set of needs for those victims and survivors of domestic violence. There are several complex concerns within a violent relationship that come to light once action has been taken. Safe Families sees a few main re-occurring concerns within the county:
- Survivors have fewer financial resources, making them more financially dependent on an abusive partner.
- The lack of rental units or other affordable housing options makes it more difficult for survivors to leave spouses or co-habiting abusers.
The Macoupin County Safe Families program provides support for residents as they journey the emotional endeavors to leave behind domestic violence. As a contributor to that experience, we will be hosting a Domestic Violence Awareness Walk on October 7th on the Carlinville Square. An event shirt will be included with a ticket sale. The online tickets will close 09/29 at 5pm. Tickets will be sold at 9am day-of event at the Safe Families booth. More information about the Awareness Walk can be found on our website at mcphd@mcphd.net. We urge Macoupin County residents to join us and rally against domestic violence together.
Juliet Wooldridge and Lilly Booth
Domestic Violence Advocate Coordinators
Community Health Worker
Macoupin County Safe Families
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Dear Editor,
Community Health Centers are the backbone of our nation’s primary health care system. We design innovative, integrated primary care based on what services communities need most — ensuring access to affordable, quality healthcare for over 30 million people. In addition to creating jobs and saving lives, collectively we save American taxpayers $24 billion a year in health care costs by preventing and managing chronic diseases.
Community Health Centers are not ordinary medical clinics; we are also problem-solvers who reach beyond the exam room to care for the whole person by providing access to necessities like food, transportation, and housing. Community Health Centers care for everyone, regardless of insurance status. Nationwide during hurricanes, floods, and fires, and locally during the pandemic, Community Health Centers are first on the scene and are vital to keeping America healthy.
The 2023 theme of National Health Center Week is ‘The Roadmap to a Stronger America.’ Community Health Centers serve as the beacon of strength, service, and care in their communities. In moments of pain and loss, we offer support and love. In moments of triumph, we offer hope and a vision for the future. This year’s National Health Center Week theme takes us on a virtual road trip across America, highlighting the achievements and amazing work being done at Community Health Centers in every state and territory. Celebrate the uniqueness of our community and get to know others as we journey across the U.S. together!
Each day of National Health Center Week is dedicated to a particular focus area. We will be working with community partners to recognize and celebrate each of the following focus groups in our community.
- Sunday, 8/6: Public Health in Housing Day
- Monday, 8/7: Healthcare for the Homeless Day
- Tuesday, 8/8: Agricultural Worker Health Day
- Wednesday, 8/9: Patient Appreciation Day
- Thursday, 8/10: Stakeholder Appreciation Day
- Friday, 8/11: Health Center Staff Appreciation Day
- Saturday, 8/12: Children’s Health Day
As part of National Health Center Week 2023, we invite you to support Macoupin Community Health Centers, Inc. to celebrate our mission and accomplishments.
Christy Blank
CEO/Public Health Administrator
Macoupin Community Health Centers, Inc.
Macoupin County Public Health Department
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