THE PROBLEM: ISSUE #3 → You Don’t Know WHERE TO START
THE PROBLEM
ISSUE #3
You Don’t Know WHERE TO START
It can be OVERWHELMING → Where do you begin – making money, tackling debt, saving? It can feel overwhelming, like it’s too much to handle at once. Don’t worry; you’re not alone, and it’s okay to take it one step at a time. Start small by focusing on one area, like tracking your spending or setting up a simple savings plan.
Break big goals into manageable chunks so they don’t feel so intimidating. And of course, we’ve got your back with the handy MONEY AUDIT CHECKLIST later in this book, designed to guide you through the areas with ideas and strategies and to help you prioritize what matters most. Remember, progress is progress, no matter how small!
Generational DIFFERENCES → When you were their age, steady 9-to-5 jobs with benefits were likely very common. Today, your kids are entering a workforce dominated by contract work, gig jobs, and side hustles. The lack of consistent income and stability can make plans to buy a car, home or saving for retirement feel almost impossible.
Your kids are growing up in a world where money is increasingly digital – apps, cryptocurrencies, and instant payment platforms. While this can be a great tool, it also makes money feel more abstract and harder to manage.
The rise of social media has created constant pressure to “keep up,” whether it’s exotic vacations, expensive clothes, or the newest tech. These influences can make budgeting and saving seem less appealing, especially when everyone else seems to be living large.
WHAT TO SAY/DO
BRIDGE the GAP
Empathy, Patience and Conversations are keys to working through generational differences. Let your kids know you recognize how dealing with money and finances has changed. You might say, “I know things are different now than when I was your age, but I’m here to help you navigate these challenges.”
Instead of dismissing their struggles with “back in my day” comparisons, focus on working together to find solutions. For example you could say, “Housing is much more expensive now than when I was your age. I didn’t have to deal with it like you do, but let’s figure out options that work for you to save for the deposit on an apartment or a down payment.
Highlight financial habits that always help, like budgeting, saving early, and living within your means. While the tools and challenges have changed, the principles of smart money management haven’t. Showing your willingness to adapt and learn alongside them will make these conversations more helpful and memorable.
Sharing your insights about things like planning early for big expenses, saving for a house or education, and avoiding high debt, can really make a difference. They show that even though some things are different, you can still help prepare your kids. This approach, along with empathy for their struggles, will help close the generational gap and create open, productive conversations about money.
(THERE'S MORE INSIDE → THE PROBLEM,
THE SOLUTION(S) & AGE RANGES
LORI WILSON
YOUR MONEY COACH
For over 18 years, I immersed myself in the world of financial services as an advisor, mastering a broad spectrum of areas from insurance (i.e., life, disability, long-term care, health) to investments and comprehensive financial planning. Today, I'm dedicated to helping my clients improve their financial literacy, as too many people are so unprepared — not just for retirement, but for managing their day-to-day finances. This has to change. The ever lurking problem is that money does bring up both anxiety and fear, not just because people lack capability or the ability to grasp or understand money, but because financial literacy was NEVER TAUGHT to them, either by their parents, society, in school or a combination of those three.
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As a MONEY COACH, LORI WILSON is dedicated to helping you improve your financial literacy, as too many people are so unprepared, not just for retirement, but for managing their day-to-day finances. Lori's mission is to provide the financial knowledge her clients need to make clear, confident, and informed decisions about money. When you're ready to start your journey to financial mastery, you can call upon Lori to help.
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