homebase.

We are born walking in two worlds due to the history of our country and our people as a collective. We are required to practice two laws (Lore and Law), so how do we ensure that we ourselves and our families are planting and bearing intergenerational wealth and prosperity?

The most profound financial wellbeing preparation starts at home. We are the future of our children’s financial stance in society. How are we nurturing our children’s relationship with the financial economy? As we know and understand, raising our kids to be good people is always at the forefront of our parental responsibilities especially for Aboriginal & Torres Strait Islander families it is the integrity of our cultural lore.

As parents it is invaluable to be able to share the learnings and lessons of life, especially with the hard work and responsibilities, to ensure our jarjums can have a better life and so forth our future generations.

Our jarjums are the growing vessels of our historical struggles and victories, the integration of our ancestors and our very own cultural, spiritual and economic growth throughout lifetimes. When we think of the amazing natural resources like the cultural artefacts, labour and land we have maintained and nurtured, through all the adversity we take much pride in this and where the future is to be built, money is importantly another renewable resource we can integrate into our vision of generational wealth.

Let us make it essential to talk of planting seeds for our jarjums and their financial prosperity!

banking.

An effective way to create a foundation for our jarjums is to establish a ‘money space’ for them. We know that majority of our financial exchange happens through the banking corporations. It is never to early to think about introducing your jarjums to financial practice.

What do we need when we want to create a bank account for our jarjums?

• Parental photo identification
• An Australian residential address
• A birth certificate or passport
• Tax file number

It can be helpful to share a bank with your jarjums. One way to do this is by speaking to the financial institution that you currently deal with and getting more information around money and jarjums. After you have done this, you may follow up with your bank on the best options for savings and transactional options that will work in well with the financial setting of your whole family.

There are other options parents have used that are outside of the banking setting, such as pocket money apps. Here are a couple of apps that are designed for little ones.

Spriggy

Spriggy allows kids to start managing their own money, while giving you as their parents visibility over their spending and saving.

The app tracks things such as:

• Pocket money
• Chores
• Savings and Goals
• Responsible Spending

This app is quite popular with families and kids, as it gives you the option to have a specialised children’s debit card with a variety of options.

FLX.

FLX is a prepaid Mastercard® and Savings App for Kids.

It collates with the Flexischools school app that a lot of schools are now using for tuck shop orders, uniforms and learning resources. If your children currently require flexischools, this is an option to potentially look at also.

saving.

Having the money talk with our kids and how they can look at creating a lifestyle around money is a MUST!

Getting our jarjums into good financial management practices is so vital and there is nothing wrong with equipping them from a young age to become ‘money thinkers.’ Getting our jarjums to adapt healthy money habits will set them up for a lifetime.

Some of the qualities taught to our jarjums through saving are:

• knowledge of money
• financial literacy
• financial discipline and gratification
• goal setting and planning
• security and independence

A helpful way to start this process may be by utilising your established banking platform or setting up a bank account or you may even like to give your jarjum a ‘piggy’ bank where they can start learning the habit of depositing cash or coins.

One of the best life practices for a healthy and encouraging mindset is self-affirmations it is a way of planting growing seeds in our minds. Speaking financial positivity into your jarjums life will also help them create a healthy mindset around money and savings.

How can we make our jarjums headstrong financially? Sharing and encouraging them to speak affirmations into their lives such as:

‘I like saving’

‘Saving is a good habit’

‘Saving makes me feel deadly’

‘Saving will help build my future’

As we know as parents, the power of speaking positive goals and accomplishments into reality is a manifestation practice that can be very effective.

This article does not constitute personalised financial advice.