Host: How can I set a good example as a parent?
Janet Bodnar: What you have to be aware of as a parent is that your kids are going to learn most of what they learn about money from you and they are going to pick up on everything that you say. It really is true that 'Little pictures have big ears.
' So you have to be very aware of the example that you are setting and the things that you are discussing within your household, within your spouse. If you are arguing about money the kids are going to pick up on that, if you are discussing money they are going to pick up on that. So, I think don't ever say to them, it is a 'Do as I say' not 'As I do' situation and you don't want that to happen because they are going to learn all the wrong things about money.
So, you want to be very aware of what's going on and obviously, you want to have some good money habits of your own. You want to be a saver you want to be putting some money aside. If you want to be teach your kids about philanthropy it helps if you are a philanthropist yourself and that you give money to charity and that sort of thing. If you don't want your kids to get into credit card debt then you don't want to be in credit card debt. If you are in credit card debt you certainly want to pay it off.