Drip, Drip, Drip

I gave a talk to a group of families recently and shared my “Drip, Drip, Drip,” strategy for raising financially fit kids. “Remember, you’re water, they’re rock,” I said. “Do a little something often. Keep the subject of the financial apprenticeship front and center in your kids’ lives in small, steady ways.” Rain in the garden. Drip, drip, drip.

Later, one of the Dad’s in the audience approached me with a rueful grin. “I’ve been using more of a fire hose approach,” he said. “And I can see they just wait me out. ‘Here goes Dad again!’ And sure enough things go back to normal and in a few months when I get sick of doling out money, I sit them down for another “TALK.”  Maybe it’s time to switch from the water hose to the drip, drip, drip,” he said.

Summer is a good time to launch the Drip, Drip Drip strategy with your own kids, grandkids, nieces, and nephews. You have three months to drip expectations, information, and practice into their lives.

Begin by letting them know what you are going to do. “We have three months to get you up to speed with your financial apprenticeship,” you can say to them. “By the end of the summer I expect________.” And here’s where you let them what you do expect. Kids will deliver when they know what is expected and what they will be held accountable for. But share your expectations in a quiet moment, not in a fit of frustration with some behavior that reminds you they are financially clueless!

Then use their texts, Instagram, email, the drive to the mall or the park, a note under their pillow, a special lunch, whatever opening you can find to let them know that there is a connection between their financial competence and independence; between financial skills and self confidence; between financial behavior and responsibility. You don’t have to be heavy handed or interrupt summer fun.  You just have to give a consistent message that THIS summer you want them to acquire information and skills that will serve them for the rest of their lives. Drip, drip, drip.