Don‘t you wish you learned more about money when you were a kid? I do! I‘m sure most of us have experienced at least one costly, stressful money mistake in our lifetimes. Although many of us had to learn our money lessons at the school of hard knocks, we can make our children‘s lives easier.
In today’s age, our children have added temptations. From birth, they are inundated with messages from advertisers to “buy, buy, buy!” A typical kid is exposed to more than one million advertisements by the time they reach age 21. To counteract the conditioning to spend and give children good money management knowledge, teaching kids & teens personal finance lessons becomes essential.
Bottom line: Financial habits are formed early. We should begin teaching kids lessons about personal finances when they’re young. If they are older now, that’s OK. It is critical they receive a professional level training prior to them moving out on their own. Giving them practical lessons in formats to which they can easily relate, we’ll establish an educational foundation that supports continued financial education training as they mature.
Take part in the Family Savings Challenge and encourage your friends to participate.