How great would it have been if you were taught about finances and how to handle money at an early age? I was never taught growing up and I feel I could be in a better place financially if I had been exposed to finances early on. Let’s teach our kids early.
My daughter who is in middle school surprised me when she started asking me all these questions about bank accounts, interest, loans, mortgage, investments, taxes, real estate, and other finance terms. She said her school was teaching about budget. I said that is awesome! Besides me teaching her, school is actually teaching it now.
After a couple of days I asked how’s the budget class going. She said it was only for 2 hours that day and they’re finished. I thought they would get exposed much more than 2 hours. I realized that teaching about finances is going to fall on the parents.
In a 2017 Marketwatch post “Some 50% of people is woefully unprepared for a financial emergency…” What will you do if you had a medical emergency, death in the family, lawsuit, car accident, or any other emergency that needed to be paid? I am not saying that if we educate our children about finances that they won’t have any problems in the future. I’m saying that the earlier we educate and expose them, the more knowledge and experience they’ll have when they have to make difficult financial decisions.
When do we discipline our children? When they do something wrong. But we educate them not to make the same mistake. Why not do the same thing with finances? We get into financial troubles because we make the wrong decisions. Lets educate our children early so they can minimize making bad decisions that could lead them down a financial spiral.
It’s crazy how much kids soak up from their parents. My daughter knows that I rarely buy anything full price. She knows I look for deals. She wants to open a bank account and manage her money. She’s interested in stocks. It’s everything she sees me do on a daily basis. If they’re soaking this much from you, give them the good traits to soak up. I want to equip my children with the knowledge they can use to have a successful financial future. If you are interested in following my journey, email subscribe to get alerts of latest posts or follow me on Facebook.