News
October 12, 2025
Growing up, I felt guilty talking about money. Here's why I'm changing that for my kids
As a child, Mr Daniel Sim felt like he did not have opportunities to talk or learn about money. He explains why he believes in doing it differently with his own children.
Daniel Sim, a father of two, remembers a childhood shrouded in silence when it came to finances. Growing up, discussions about money were practically taboo, leaving him feeling guilty and uncomfortable whenever the topic arose, even in casual conversations. This lack of open dialogue, he says, left him unprepared for the real-world financial challenges he faced as an adult. Now, determined to break this cycle, Sim is consciously changing his approach with his own children, fostering an environment where money matters are openly discussed and understood.
"I realized that my silence around money stemmed from a deep-seated belief that it was somehow impolite or even shameful to talk about it," Sim explains. "This meant I never learned the basics of budgeting, saving, or even understanding debt. I want my children to be equipped with these essential life skills, not burdened by the same anxieties I carried."
Sim's approach is multifaceted. He incorporates age-appropriate discussions about money into everyday life. For his younger child, this might involve explaining the value of coins and how they can be saved to buy a desired toy. For his older child, the conversations are more nuanced, touching upon concepts like earning, spending, and the importance of making informed financial decisions.
He also emphasizes transparency. Sim believes in explaining to his children where the family's money comes from and how it's allocated. This includes showing them the family budget and involving them in discussions about spending priorities. By demystifying the family's finances, Sim hopes to empower his children to understand the value of money and develop responsible spending habits.
Beyond the practical aspects, Sim also wants to cultivate a healthy attitude towards money. He strives to avoid associating money with stress or anxiety, instead framing it as a tool that can be used to achieve goals and support loved ones. He believes that by fostering open communication and a positive mindset, he can help his children develop a strong financial foundation and avoid the feelings of guilt and discomfort that plagued his own childhood. Ultimately, Sim aims to raise financially literate and responsible individuals who are confident and comfortable navigating the complexities of the modern financial landscape.
"I realized that my silence around money stemmed from a deep-seated belief that it was somehow impolite or even shameful to talk about it," Sim explains. "This meant I never learned the basics of budgeting, saving, or even understanding debt. I want my children to be equipped with these essential life skills, not burdened by the same anxieties I carried."
Sim's approach is multifaceted. He incorporates age-appropriate discussions about money into everyday life. For his younger child, this might involve explaining the value of coins and how they can be saved to buy a desired toy. For his older child, the conversations are more nuanced, touching upon concepts like earning, spending, and the importance of making informed financial decisions.
He also emphasizes transparency. Sim believes in explaining to his children where the family's money comes from and how it's allocated. This includes showing them the family budget and involving them in discussions about spending priorities. By demystifying the family's finances, Sim hopes to empower his children to understand the value of money and develop responsible spending habits.
Beyond the practical aspects, Sim also wants to cultivate a healthy attitude towards money. He strives to avoid associating money with stress or anxiety, instead framing it as a tool that can be used to achieve goals and support loved ones. He believes that by fostering open communication and a positive mindset, he can help his children develop a strong financial foundation and avoid the feelings of guilt and discomfort that plagued his own childhood. Ultimately, Sim aims to raise financially literate and responsible individuals who are confident and comfortable navigating the complexities of the modern financial landscape.
Category:
Politics