After filming our first video on debt, my son casually said ‘so what’s our debt situation?’ Hah, now there’s a question.
All very well learning, teaching and talking about it, but a totally different story when we have to be honest about our own situation and discuss it with a 12-year-old, non-judgemental but curious and demanding face.
Three years ago, (pre-financial literacy), I would have fumbled around not actually having a clue about whether we even had debt, let alone if it was good or bad debt. Interest rates and credit card minimum payments were mere words that I wasn’t interested in hearing about.
He was satisfied with our discussion (and so was I!).
He asked the right financial questions. I could answer his questions using the correct financial terms and from a base of knowledge.