Be kind to others…say please and thank you…max out your Roth IRA? Imparting lessons of financial literacy isn’t normally at the top of our parenting priorities. But as we are on our own FI journey we know it is important. Today, with so much competition for our children’s attention including social media, television, games, and friends, it is important that our messaging is heard and valued. One major message for our children should be that they are expected to grow into financially responsible adults. And since most education systems are failing at delivering this message, we parents must succeed. Whether our children are five, sixteen, or twenty one, this lesson will help us encourage our children to become capable of achieving Financial Independence.
Read: Raising a money-smart kid by Doug Nordman of the-military-guide.com
Watch: How to Raise Kids Who Are Smart About Money by Rachel Cruze of PragerU on YouTube
Read: Kids On A Budget by Doc G of diversefi.com
Read: CURBING CONSUMERISM WITH OUR KIDS (AND OURSELVES) by Christina Merhar of raisingsavers.com. Note: this site has a lot of practical useful information regarding MONEY LESSONS FOR KIDS. Exploration is highly encouraged.
Listen: 072R | The Five Most Important Financial Conversations You Need To Have With Your Child by Brad Barrett and Jonathan Mendonza of choosefi.com (content supporting this lesson starts at 34:10 of the podcast)
Listen: Ep 0018 Richer Soul – Raising Money Savvy Kids with Doug Nordman by Doug Nordman of richersoul.com
Take Action: Review Doug Nordman’s post above. Let that be a starting point for putting you in the mindset of shaping the financial education for your child. Develop, with your significant other onboard if applicable, and implement an initial plan for your child that is age appropriate. This is only the beginning. Continuously monitor, measure progress, and introduce new lessons when ready.
Additional Resource For You:
Read: What I’m Teaching my Son about Money by Pete Adeney of mrmoneymustache.com
Additional Resource For Your Teen:
Read: Common Cents Articles by Eva Baker of teensgotcents.com
Quote: “Though small was your allowance you saved a little store: and those who save a little shall get a plenty more.” – William Thackeray