Why do you want to set up a secure foundation for your kid's financial success?
The simple answer is because you want your kids to learn the value of money. The second answer is that you want to leave a legacy that lasts generation after generation.
As you may know, kids make financial decisions since they are three years old. If you are not sure, then I want you to recall who choose the cereal at the supermarket.
Where do they choose to buy it? At the grocery store, right? They are pointing out what they want even if they don't know to enunciate the names. Or also just putting it in the cart by themselves.
Around 7 or 8 years old, they probably will have an iPad or a Smartphone "in case of any emergency." Then in their teens, they want to wear the latest trends and brands, and it is your JOB to give it to them.
Most kids don’t understand where the money is coming from, but they assume that all they need to do is...
We all love our children and we want to give them the best. However, sometimes we forget about their future. Sometimes we think that they are too young or it is too early to set them up for success.
Today, I am going to show you the smart way to help your kids not to worry about money ever.
The Reality of College
A lot of times we think about saving up to college and we hope that once they graduate, they'll find a good job and that they can take care of themselves and maybe even you from them on.
But what about if even before they go to college they are already financially set? What about if we can think beyond college for them? They don't have to worry about getting into Student Loan Debt, or where are they going to find the money to buy their first home, or to get married, start a business, or even to care for their own children.
There is a way, and it might not be what you are thinking about.
What about if you can help...
Who do you think is responsible for teaching your kids about money?
It is funny that as parents we teach our kids a lot of skills, but we fail to show them something as essential as managing money.
Today I am going to share with you three things that you can do to help your kids understand the concepts of Money.
Children start deciding about money as early as three years old. If you don’t think so, ask yourself, who chose the cereal or the juice at the grocery store.
Typically, I suggest to give them a week allowance base on their age.
If your child is 7, then $7, 6, $6, 5, $5 and so forth.
This will give them a sense of reality and teach them good habits for then on.
Have you ever asked your kids where do they think Money come from?
Believe it or not, your kids start to make financial decisions at a very early year, even 3 years old.
If you are not sure about this, ask yourself, who chose the cereal and juices in the Household? Where do they choose to buy it? At the grocery store, right? They are pointing out what they want.
Most kids don’t understand where the money is coming from, but they assume that all they need to do is ask and it is given.
If you want your kids to learn the correct concepts about money from a very early age, then they need to be clear about where the money is coming from.
You can also give them tasks so they understand that money is an exchange of value.
Teaching them to have their own business at an early age will also teach them the path of entrepreneurship.
Have them read kids books about money.
When you start teaching your kids numbers and how to count, instead of paper or marbles, teach...
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