Lun. Dic 23rd, 2024

(Image credit: Getty Images)The holidays provide a cozy time to discuss your family’s financial future while everyone is together for a few days. It’s an opportunity to share stories, to pass down lessons learned in hard times and to convey the connection and resilience of family. You may not want to talk about estate planning and inheritances around the table, but arrange for some time over the break to have these conversations.Studies show that families often avoid or put off talking about their finances. Money talk remains taboo across almost every aspect of modern society: economically, educationally and culturally, according to Money Talks, a study by Empower. Most of those surveyed by Empower (61%) say they never learned about personal finance in school, and over half (52%) say that money wasn’t discussed at home or growing up.On the bright side, 66% of survey respondents believe that open money conversations can help more people achieve financial freedom and can help build generational wealth. That’s why having these conversations is important, and Thanksgiving is the perfect time to start. Consider bringing up the following financial topics at this year’s Thanksgiving table.Subscribe to Kiplinger’s Personal FinanceBe a smarter, better informed investor.
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Sign up for Kiplinger’s Free E-NewslettersProfit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.Profit and prosper with the best of expert advice – straight to your e-mail.(Image credit: Getty Images)1. Financial gratitudeFirst things first. The relationship between gratitude and Thanksgiving is deeply ingrained in the holiday. Some of us grew up going around the table and sharing something we’re thankful for each year. A focus on family financial gratitude can help your loved ones feel more content with what they have and not stress as much about what they’re lacking.Start the conversation by sharing what you are grateful to be able to look forward to and ask your family to share as well. Gratitude reduces envy and jealousy. And being envious or jealous of someone can lead to resentment. Practicing gratitude can help shift the focus away from other people’s possessions and to what you have that you can be thankful for, according to research.com.(Image credit: Getty Images)2. Financial accomplishmentsTake a moment to celebrate each other’s financial wins. Recognizing these accomplishments can serve as a positive example for the younger generation.You can start the conversation by posing positive questions: Did anyone adopt a positive money habit? Did anyone hold off buying an item you may not need? Did anyone reprioritize spending or tighten their budget to accomplish a goal?Noting the positives can help people acknowledge the good things they’re doing and foster mindful money management. Mindfulness helps you pause and assess whether a spending decision aligns with what matters,