Parents may avoid discussing money or finance with their kids due to various reasons, include:

1.   Lack of Financial Knowledge: Many parents themselves lack the necessary knowledge and skills to handle finances effectively, and hence they may not feel confident enough to educate their kids about money effectively.

2.  Personal Financial Struggles: Parents who are experiencing financial difficulties or are struggling to manage their own finances may feel embarrassed or ashamed to discuss money matters with their children.



3.   Fear of Worrying or Confusing Children: Parents may worry that discussing financial topics with their children will burden them with concerns or confuse them with complex concepts beyond their understanding.

4.   Belief that Children Shouldn't Worry About Money: Some parents may hold the belief that children should focus on being children and not worry about financial matters, leading them to postpone or avoid financial discussions.

5.   Perception of Money as a Private Matter: Children grow up observing their parents avoiding money discussions, which subconsciously makes them believe that it is not a suitable topic to talk about. Moreover, some cultures place a high value on privacy, and discussing financial matters with anyone, even their children, is considered a breach of this privacy. In short, Some parents view money as a private matter and believe that discussing finances with their children is unnecessary or inappropriate.

6.   Time Constraints: Busy schedules and hectic lifestyles may lead parents to prioritize other activities over discussing financial matters with their children.

7.   Generational Patterns: Parents may not discuss finances with their children due to power dynamics. In traditional households, parents are often seen as the authority figures, and children are expected to follow their instructions without questioning. Discussing money matters with their children may give them insight into their financial situation and may encourage them to question their parents' decisions. This may lead to a shift in power dynamics, which parents may not be comfortable with. Parents may replicate the communication patterns they observed in their own upbringing, leading to a lack of open dialogue about money within the family.

Despite these challenges, fostering open communication about money and finance within families is essential for promoting financial literacy and empowering children to make informed decisions about their finances in the future. Parents can overcome these barriers by seeking out resources and support to improve their own financial knowledge and by finding age-appropriate ways to engage their children in discussions about money.

Importance of discipline in savings

Discipline in saving refers to the practice of consistently setting aside a portion of your income or resources for future use, often with specific financial goals in mind.

Discipline in saving earnings is fundamental for financial health and security. It empowers individuals to take control of their finances, achieve their goals, and ultimately build a more stable and fulfilling future.

It requires consistent effort and self-control but offers numerous `benefits that enhance overall financial well-being.

Hear I would like to tell you small but interesting story, which explains importance of discipline in saving, of two friends who desire to have latest gaming station.

In the vibrant neighborhood, two young friends, Ruru and Krisi, shared a burning desire for the latest gaming station. However, their parents had set strict limits on their allowance. Undeterred, they devised a plan to earn the money themselves.

Ruru, a disciplined and meticulous boy, approached his parents with a detailed proposal. He would mow the neighbor's lawns, tutor younger students in math and English, and complete odd jobs around the house. He budgeted his earnings carefully, setting aside a portion for savings and another for expenses.     

Krisi, on the other hand, was more impulsive. She took on sporadic jobs, such as pet-sitting and babysitting, but often spent her earnings on immediate treats. She lacked the discipline to save consistently.         

As the weeks turned into months, Ruru's savings grew steadily. He kept a meticulous record of every expense and made small sacrifices to save more. Krisi, on the other hand, found it challenging to resist spending temptations. Her savings fluctuated, often dwindling to zero.      

One fateful day, Ruru proudly announced that he had reached his goal. He had earned enough money to purchase the gaming station. Krisi was devastated. She had missed out on her dream because of her lack of discipline.        

'How did you do it?' she asked Ruru, tears in her eyes.    
Ruru smiled gently. 'I set a goal, planned how to achieve it, and stuck to my plan. I learned the value of saving and the importance of delayed gratification.'
Krisi realized that Ruru's words held a valuable lesson. She resolved to change her ways. She started setting aside a fixed amount of money each week and resisting unnecessary expenses.
Years later, Ruru and Krisi had achieved their dreams. Ruru became a successful entrepreneur, known for his financial discipline. Krisi, having learned from her mistakes, became a responsible and prosperous woman. And the memory of their childhood quest for a gaming station served as a constant reminder of the power of persistence, planning, and financial responsibility.

Summary:

The above content and stories narrate importance of discussions money matters or finance with kids and Importance of discipline in savings.