Investing for your future is just good planning. As Warren Buffet said "Someone is sitting in the shade today because someone planted a tree a long time ago."
In this article, we summarize some of the best content we’ve discovered recently on the topic of financial literacy for kids.
Parents Model Financial Behaviour
Read more: The Most Memorable Money Lessons From Mom and Dad: 6 True Stories.
In her article for Kiplinger, Janet Bodnar looks at some new research about parents, kids and money, and how it shows that today’s parents are reluctant to talk to their kids about finances. She offers six suggestions for getting the conversation started, including, “Don’t try to fool your children. They know what you’re up to.” Almost 7 out of 10 survey respondents “suspect that their parents have told them they can’t afford something when they really can.”
Read more: Smart Ways to Talk About Money With Your Kids.
Make Finance Fun
Read more: Fun Money Activities for Kids Ages 3-18.
In an article at Forbes, Emma Johnson explores some cool finance apps that can take advantage of kids’ love affair with their (or your) mobile devices. Two of the apps are free, one costs $5.99, and one is a subscription-based service for $15/month or $120/year.
Read more: 5 Apps To Teach Your Kids About Money.
Help Your Kids to Not be Spoiled
Read more: How To Raise Children To Be The Opposite Of Spoiled – Using Money To Teach Values.
In another post inspired by the book, John Woerth at the Vanguard blog describes some of his own experiences as a father, and translates these into tips for other parents.
Read more: Practical tips for raising money-smart kids.
Help Your Kids Build Wealth and Avoid Debt
Read more: 5 Tips for Keeping Your Kids (and Grandkids) Out of Debt.
In MoneySense, Romana King suggests that over-parenting can actually sabotage your children’s financial success. She offers a comprehensive look at research, examples, and expert advice that will help parents raise responsible, independent children. “And if they happen to become millionaires along the way,” she concludes, “well, that’s a bonus.”
Read more: Who Wants to Raise a Millionaire?