As many parents know, children aren’t learning about smart financial management in school.
There have been some strides in recent years trying to teach kids as well as teens how to manage their money once they are out of school. All these efforts are trying to help your children make smart decisions once they are out on their own. The truth is that most kids are only learning from their parents. Is this good or bad?. What if your child picks up the parents own bad habits? Are they doomed for life?
Over the years providing financial planing services for families, I typically get introduced to the children or parents of my clients. Through this experience I’ve come to notice that there are a lot of similarities within families when it comes to money management. If the parents are spend thrifts, the children tend to be as well and vice-a-versa.
How do we stop this? We can start to speak our childrens language and teach them in a way they’ll understand. They are online, so we need more online topics as well as a solid base of knowledge in school. A good resource is www.tdbank.com/wowzone . This website strives to make a difference.
Why don’t you take a stroll through it with your kids? Try to start them learning as soon as possible… before it’s too late.
Do you know of any more websites that are good for parents and kids? Let me know in the comments section!
Travis Strain, CFP
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