Thursday, December 20, 2007

Raise Money Smart Kids

Have you ever wished you had learned more about money when you were younger? Most of us were never taught about money when we were children and have gone through life not having a clue about how to manage it or how to create financial freedom. Life would be vastly different if we had been taught how to create and manage money at an early age. So, it is high time that we taught our children how to take financial responsibility and manage money. Our children are not going to learn how to create financial success and manage money in school. There is usually no course at school, no helpful hints on TV and observing parents can be confusing at best. Typically, parent's money management skills are often either not what we would like them to be or our finances are so complex that how we handle our money does not mean much to a child. To make matters worse, children today have more money to spend and develop financial styles at a younger age than ever. Before you know it, children can develop bad habits that can last a lifetime. In fact, most parents do not deal with their children' money management problems until their children are adults. By then, these problems can be both costly and emotionally charged. The best way children will learn to manage their money is through their own experience and the guidance that parents give them. Children learn about money through hands-on experience of managing their own real money. In this way they will learn the process of creating a wealthy future by actually doing it. Educating, motivating, and empowering children to become regular savers and investors will enable them to keep more of the money they earn and do more with the money they spend.

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