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...
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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