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financial literacy

Parenting

Mom's real world budgeting lesson goes viral after it leaves her kids feeling overwhelmed

"I just won't eat lunch. I'll just eat a big breakfast. I probably won't eat breakfast."

Mom does budgeting exercise with kids. They're stressed.

Kids, as much as we love them, they're like our little broke best friends. They seemingly always want something and have little to no concept on how much money things cost.

There are some parents that start explaining how finances and budgeting works at an early age so kids know what to expect. It also likely helps them understand that parents don't have an infinite amount of money to spend on unnecessary items. Ariel B. is a mom and content creator that created budgeting worksheets for her children to use to learn how to budget and uploaded the video to TikTok.

Let's just say, the kids were a bit stressed before they even finished the worksheet.

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5 ways financial literacy could make your relationship better than ever.

Aside from politics and religion, what is more polarizing than money?

A 2013 survey found that money is the #1 cause of stress in a relationship .

More so than in-laws or whose turn it is to do the dishes. In fact, arguing about money is easily the top predictor of divorce . Yipes.

But, a deeper understanding of how money works can affect our lives in many surprising ways.

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It's not uncommon to hear about the financial struggles of former NFL players who, in spite of multimillion-dollar deals, are now living paycheck to paycheck.

It's easy to judge them, but that's ignoring a very real truth: Financial literacy is a privilege often afforded to the already wealthy, not the newly wealthy.

As Justin Tuck, retired Giants defensive end, told Reuters , "Look at the average NFL roster, and most players come from low-income families. They go from being 18-year-old kids with nothing to being 21-year-olds with millions of dollars. ... They get all this money all of a sudden, and they just don't know how to handle it."

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TD Ameritrade

The truth about millennials and money is complex.

Millennials face different economic challenges than older generations did. I can speak from experience. Pensions feel like unicorns to us, and most of us live with a little monster called student debt on our backs that eats away at our paychecks. As a result, we have different financial priorities and goals, especially when it comes to retirement.

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