DrTaffy  

For the Parent: Without talking about money to your children the following could happen:

1) Applying for numerous credit cards and overcharging

2) Writing checks and not knowing how to balance the checkbook

3) Getting loan after loan from a bank and getting co-signers

4) They repeat what they saw you do

For the Student: I am going to say high school to college age:

1) Peer pressure when out with friends which can lead to overspending

2) Mismanaging money from student loans and applying for every credit card offer on campus

3) During break getting a job but spending the money instead of planning ahead

4) Not being able to return to school because its not affordable

For the Engaged Couple:

1) Walking down the aisle and preparing to say “I Do” then finding out spouse is in debt – Creates a major problem

2) Knowing that you are a shopper and praying your fiance does not find out

3) Learning your future spouse has $20,000 in debt and not knowing how to handle it

4) Not compromising on wedding expenditures – could set the stage for marriage

For the Married Couple:

1) Been married for years and one person managed the money, now faced with consequences that are forcing conversation

2) Blaming the other person for spending in a time when you needed to be “frugal”

3) Silence being a part of the marriage because of financial tension

4) One person feeling as if they shoulder all the financial burden

Whether you are married, engaged, a student, parent or single – you decide. Based on what you read above, should money be a taboo subject?