BEHAVIOR. IF YOU HAVE A GOOD QUESTION FOR HEATHER GO TO WCCO.COM/LINKS. AND PARENTING ALSO INCLUDES PASSING DOWN FINANCIAL KNOWLEDGE TO YOUR KIDS. BUT ONE WISCONSIN FAMILY MIGHT GET MORE KNOWLEDGE THAN THOSE. THIS FAMILY HAS NINE KIDS. IF YOU THINK IT SOUNDS TOO EXPENSIVE. HEAR HOW IT WORKS. THE BEST WAY TO TEACH CHILDREN IS BY EXAMPLE. Reporter: HE TACKLES FINANCIAL DEBT EVERY DAY IN HUDSON WISCONSIN BUT AFTER THE CLOSE OF BUSINESS AT PRINCIPAL PRESERVATION SERVICES, MIKE GOES HOME FOR REAL LIFE COST ANALYSIS. WHO THINKS MANAGING MONEY IS MOST IMPORTANT? Reporter: MEET THE FAMILY. THAT’S NINE KIDS IN ALL. WHEN WE HAD OUR THIRD I SAID WE’RE DONE AND SHE SAYS NO, WE’RE NOT. Reporter: MARRIED FOR 18 YEARS MIKE AND ANGIE PICKED UP PLENTY OF FINANCIAL LESSONS ALONG THE WAY. THE HARDEST CAME IN THE LATE 2000’S WHEN MIKE WORKED IN REAL ESTATE. WHEN SALES NEARLY STOPPED MIKE’S INCOME DROPPED FROM NEARLY 200 # THOUSAND DOLLARS A — 200 THOUSAND DOLLARS A YEAR TO NEARLY 40 THOUSAND DOLLARS. HE HAD A NICE CABIN ON THE WEEKEND AND THE REALLY NICE SUV AND THEN YOU FIND THOSE THINGS DON’T REALLY MAKE YOU HAPPY. Reporter: THEY WERE CONTEMPLATING BANKRUPTCY TO GET OUT FROM 100 THOUSAND DOLLARS INDEBTED FROM CREDIT CARDS AND MEDICAL BILLS. THEY MOVED TO A MORE AFFORDABLE HOUSE AND ONLY BOUGHT THINGS IN CASH AND MIKE MADE A CAREER CHANGE. I KNEW THEY WERE INDEBTED AND IT’S NOT A GOOD THING. Reporter: ALONG THE WAY THEY WERE HONEST WITH THE KIDS ABOUT THE MISTAKES THEY MADE. I ALWAYS KEEP MONEY SAVED BECAUSE I DON’T WANT TO BE BROKE AND NOT HAVE MONEY. LIKE ME [ LAUGHING ]. Reporter: IS CALEB A SPENDER? THOSE YEARS ARE ALSO LIKELY WHY THEY’RE CANDID ABOUT CASH. THIS ONE IS SAVING, THIS ONE IS FOR SPENDING AND THIS ONE IS TO GIVE. Reporter: THE KIDS ARE TAUGHT TO SAVE AND GIVE 10%. THEY DON’T BELIEVE IN ALLOW ANSWER. THE KIDS ARE EXPECTED TO PITCH IN. IF THEY DO SOMETHING EXTRA THAT’S WHEN THEY EARN MONEY. Reporter: IF YOU ARE GETTING ANYTHING, YOU ARE BUYING IT YOURSELF? ? YES. Reporter: MOM SHOPS WITH A LIST AND BUYS IN BULK. IT’S MORE ECONOMICAL TO DO IT THAT WAY. MIKE RECOMMENDS THE PARENTS NOT PAY FOR ALL IT. THEY’RE IN STILLING SOMETHING WRONG AT A YOUNG AGE WHERE CONSTANTLY NEEDING HELP. Reporter: ABOVE ALL WE SHOULD MAKE OUR KIDS PART OF THE MONEY CONVERSATION SO THEY’RE BETTER PREPARED FOR THE FUTURE. THEY UNDERSTAND WHAT IT COSTS TO EAT OUT AND WHAT GAS COSTS. Reporter: A TEAM APPROACH TO THE FAMILY FINANCES THEY CAN ONLY HOPE THAT WILL LEAD TO NINE HEALTHY BOTTOM LINES. COLORADO WCCO — LIZ COLLIN WCCO4 NEWS. HE SAYS IT’S BEST FOR FAMILIES TO TAKE STOCK OF EXPENSES EVERY TWO WEEKS TO SEE

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