Parents want their children to grow up financially savvy enough to avoid debt, properly allocate their funds, and save for a rainy day. The parents themselves are the largest role models in most areas of life but it is valuable to point out athletes, musicians, or others your kids admire who have handled their finances well.
Personal finance weblog The Simple Dollar points out that the only time celebrities financial lives are mentioned in popular media is when they lose all their money or buy ridiculously expensive items that most of us will never have the means to own. Shows like Cribs or its predecessor Lifestyles of the Rich and Famous cement this until many young people believe that their future is filled with mansions and exotic sports cars.
Instead, The Simple Dollar recommends looking at those like Tony Hawk who turned his skateboarding success into an entrepreneurial empire that would secure long term security and provide for him long after he could no longer be a competitive skater. These role models need not be celebrities - family friends who have started successful businesses or who live frugally so that they may pursue full-time charity work or travel can also be inspirations for your children to develop good money habits. Photo by Brad Chaffee
Finding Money Heroes for Our Children | The Simple Dollar
Source: http://feeds.gawker.com/~r/lifehacker/full/~3/C2hXZ0Vy3kQ/find-financial-role-models-for-your-kids
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