We all know how important money is to everyone. Who would not think about it right? And most of the time, we feel like we want to give our kids the best tools to make smart financial decisions as they grow up. But sometimes we don’t know where to start. We can feel a little overwhelmed most of the time because there are a lot of things going on in our minds. How to raise financially literate kids is difficult especially if you are not intentional in doing it. It should start with us as parents.
You know, I thought I have this competitive advantage in this area because I ‘ve been a financial advisor for over four years. As a financial advisor, it made me a good father. Moreover, being a father it made me a better financial advisor as a whole. There were a lot of challenges though. And talking to kids where money comes from would be the start. Next would be the importance of having money and how to use it for the good of the family.
EFFECT OF DIGITAL AGE
So help me raise a financially literate family in this new generation where you will find kids on their iPhones, dads on their laptops, and moms at the kitchen. The digital age really has made a total change in the life of kids. They can always search for information on the net anytime, anywhere. Although, they can also use as a learning tool but there should always have accompanying restrictions. I have a separate article for handling digital kids.
I have been a financial advisor from Sun Life financial and together we are going to make a difference in your child’s financial life. There are a lot of things we can teach our kids, and handling money is one of the very important which will steems up to different topics we can talk about. For example, do you give an allowance to your kids or do you not give an allowance? I mean, it could be alright if you do both. But letting them visualize the future will help them in getting prepared.
HELP THEM MAKE DECISIONS
Helping them make decisions between the value of saving and the things in between will make a difference in their lives. You can talk to them that they can also make decisions on budgeting their money especially if you decided to give them an allowance. Together, there so many strategies that you can use in learning together with your kids. This is just one, you can try anything that would apply to your family’s lifestyle. Teaching them to make the right choices and make the decision will help get prepared ahead of their lives.
Meanwhile, I want you to focus on your relationship with your kids. If you have an adult it is very important to get them down the hock and let them understand. Teaching them how to save for their college savings could be helpful in bringing the basic. If you have little ones like me, you still have ample time to prepare.
Right now, you have to build a solid foundation on your relationship with your children. You know why? A famous author and evangelist Josh Mcdowell said, “rules without relationship leads to rebellion”. And that is detrimental to your kid’s life and to how you raise them up.
Raising a solid relationship with your kids can be really difficult. We need a lot more time in each and every one of them to gain your full trust and confidence that they are listening to your advice and following it.
What we want to establish here is to get them on a training attitude and solidify your relationship to build a lasting and stronger future for each and every one of them. Again, whatever you have bounded today can be a good investment to your chid’s future. Especially in handling money. And the secret to raising a financially literate generation is to build a financially literate family.
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