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thewebspoke.com
| Teaching Your Kids about Money Management and Investing: a Financial Guide for Your Child |
Some Good Habits
There are two things which are rarely taught in schools: How to raise children and how to successfully
accumulate and manage money.
This section deals with some useful principles you can use to teach your children the basics of
managing their money. If the correct habits are taught and practiced at an early age it is not as difficult as
you might think to finish the race as an independently wealthy individual or family. Parents reading this
section just might find they learn some valuable information for managing their own financial matters.
Parents, please read through these pages your children and help them to understand some of the
terminology.
Here’s some information to fuel your motivation and help you stay disciplined:
There are two things which are rarely taught in schools: How to raise children and how to successfully
accumulate and manage money.
This section deals with some useful principles you can use to teach your children the basics of
managing their money. If the correct habits are taught and practiced at an early age it is not as difficult as
you might think to finish the race as an independently wealthy individual or family. Parents reading this
section just might find they learn some valuable information for managing their own financial matters.
Parents, please read through these pages your children and help them to understand some of the
terminology.
Here’s some information to fuel your motivation and help you stay disciplined:
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| Now let’s assume that instead of investing at age 19 you waited until age 27. You saved $2,000 at age 27 and then saved $2000 each year for the next 38 years until age 65. Your total investment would be $78,000. What do you think you would have at age 65 assuming you earned 10% on your investments each year? |
In the first example you started saving at an earlier age and only invested $16,000 but you ended up with a
lot more money than had you waited 8 years and then invested $78,000. This shows the value of investing
earlier and letting your earnings compound.
Follow the link below to learn about the most important financial principles you can teach your children.
lot more money than had you waited 8 years and then invested $78,000. This shows the value of investing
earlier and letting your earnings compound.
Follow the link below to learn about the most important financial principles you can teach your children.
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