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Boomerang Boom, Cheap Money Talk, and Powerful Money Stories: Family Finance Picks #61

This week’s family finance picks includes the latest stats on the boomerang boom and two articles on talking about money with your kids. On the one hand, money talk by itself can be cheap. On the other, family money stories can be quite valuable.

Sound contradictory? Read on:

Who’s Moving In? Adult Kids, Aging Parents

Avoid the BoomerangBoomerangs are booming. 22% of young adults lived at home with their parents in 2010 — that’s up from 16% in 2000. Is this just the new economic reality, or is there something we can do to reverse the trend?

Discuss on Facebook.

Money Talk With Kids Doesn’t Teach Much

Money Talk Is Cheap Without Ownership And ExperienceMoney talk with your kids is cheap without ownership and practice. Lynne L. Finch, author of the No-Cash Allowance, explains why in this short post.

Discuss on Facebook.

The Importance of Financial Education

The previous pick notwithstanding, stories about family members can be powerful, memorable vehicles for communicating critical money values to your kids. Even the simplest stories can be compelling. Here’s an excellent example on the topic of living within your means and resisting material temptations. Javier Storch, a junior in high school, writes about the first car his father bought in America and how his father’s choice differed radically from that of his friend’s. One man chose the short term dream. The other man chose the long term dream. A wonderful personal parable about the repercussions of immediate gratification. Read it here.

Discuss on Facebook.

We’re constantly scouring the Internet looking for articles related to family finances and teaching kids good personal finance habits. You can visit our ever growing list of family finance bookmarks here. We’re up to 2,958 now!

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