Episode 5 Start Well™ podcast: Money Mindset for Kids and Parents with Karen Eley. In this episode, we're exploring the intricate relationship between money mindset and parenting. Our conversation with Karen Eley underscores the critical role parents play in shaping their children's money mindset. By understanding their own influences, being mindful of language, and adopting intentional strategies, parents can empower their children to navigate the complexities of money with confidence and resilience.   Discussion points: Understanding Money Mindset Development in Children: Karen provides insight into how children's brains develop and why ages 2-12 are crucial for shaping money attitudes and behaviors. Discussion on the impact of traumas related to money, illustrating with examples. Parental Influence and Awareness: Importance of parents recognizing their own money influences and behaviours, which profoundly shape children's perceptions. Emphasis on parents being on the same page and conveying consistent messaging about money to children. The Power of Language in Money Conversations: Exploring how language used around money - earning, spending, having, and using it - impacts children's understanding and attitudes. Discussion on the emotional dimension of money and its influence on family dynamics. Intentional Parenting Strategies: Encouragement for parents to be intentional about the messages they want to impart about money to their children. Suggestions for age-appropriate lessons and activities to foster financial literacy and resilience in kids.   As a Money Mindset Coach: Karen reflects on her role in helping adults explore childhood experiences to uncover patterns in money mindset development. Insights into cultivating financially resilient children based on understanding parental mistakes and challenges. As a Mother: Balancing motherly instincts with the need to provide teachable moments for children. Acknowledgment of challenges such as mother's guilt while striving to instill financial wisdom in her own kids.   Karen is a Certified Money Coach and former financial adviser, who brings both professional expertise and personal experience as a mother of two boys, aged 12 and 13. She is passionate about helping women navigate financial complexities and cultivate confidence in managing money. Karen is a regular financial commentator on various media platforms, offering practical and psychological insights. You can connect to Karen via LinkedIn Women Talking Finance: https://www.womentalkingfinance.com.au/ Money Mindset Quiz: https://quiz.womentalkingfinance.com.au/   Thank you for tuning in to this episode of the Start Well™ podcast. Be sure to subscribe for more insightful discussions on how you can talk to the young people in your life about money in an empowering an healthy manner.   General Advice Warning – This Podcast contains general advice. The information, including tax information and any advice provided in this Podcast, does not take into account your objectives, financial situation or needs. Because of that, you should before acting on the advice, consider the appropriateness of the advice, having regard to those things. If the advice relates to a particular financial product, you should obtain the relevant Product Disclosure Statement for any product mentioned and consider its contents before making any decision.You should consider talking to a financial adviser before making a financial decision.  Dawn Thomas is a Senior Financial Adviser and is an authorised representative of TWD Licensee Services Pty Ltd ABN 88 605 064 480 Australian Financial Services Licence No.475964 (TWD Licensee Services).