By Joline Godfrey
Is your baby a spendthrift? A hoarder? or perhaps, downright oblivious? Are there kinfolk funds dramas you are able to do with no? In elevating FINANCIALLY healthy little ones, Joline Godfrey, one of many country’s major specialists on childrens, mom and dad, and cash, offers mom and dad the secrets and techniques and data she has gleaned from a decade of operating with teenagers on monetary literacy and enterprise. on the middle of the e-book lies an outlined set of values:Money is a device for attaining and preserving independence. Saving is sweet; accumulation for its personal sake isn't. Spending is better performed properly and inside one’s potential (though a daring buy or funding can also be an act of wisdom). Greed isn't really stable. Giving generously is a part of one’s accountability to the human kinfolk; shepherding wealth is an act of respect—to the earlier and the longer term. cash is an strength (not a commodity) that may be used for evil or for good.Designed for adults—parents, grandparents, mentors, advisors, and educators—concerned approximately elevating kids a while five to 18, elevating FINANCIALLY healthy teenagers is established round a developmental map masking ten particular funds talents each one baby can grasp by way of the age of 18 to develop into a financially safe grownup. This map provides mom and dad a step by step method of aiding their young children develop into ordinary savers, clever cash mangers, and in charge determination makers. greater than only a cash ebook, elevating FINANCIALLY healthy children may help mom and dad ship their little ones into the realm as balanced, financially good contributors and contributing individuals of either their relatives and neighborhood.
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Additional resources for Raising Financially Fit Kids
Parent As to the ways the mentor might spend time with your child, it will of course depend on the age of the child. But to alleviate any fears potential mentors may have that you are expecting a graduate-level day with your kids, suggest some activities offered in the following chapters, as well as a few of these: Money Mentor’s Kit Raising Financially Fit Kids Ten Basic Money Skills Bookmark Biography of your child List of three to five key family money values Go to lunch or breakfast and discuss how, when, and why (as well as why not) to buy things like cars and computers and DVD players and houses on credit.
By the time I was in college, I had a sizeable nest egg saved and was able to take a year off college to live in Spain. I’ve not quite lived up to those rigorous saving habits since, but I’m still proud that I put myself through college and paid for both of my cars on my own. Even when I wasn’t executing so well in other areas of my life, I was always proud to pay my own way. And now, I know that for me it was and is important never to be dependent on a boyfriend/partner for money. Remember, this parental intervention happened when Brooke was 12—right at the stage when clothes are vitally important to a young girl and a desire for independence is emerging.
Give them a Money Mentor’s Kit (a copy of Raising Financially Fit Kids, a short biography of your child, and a list of three to five key family money values) and a solid sense of what you hope they will focus on with your kids. But get their input too. A good money mentor may be inventive in ways you have not yet thought of—and sometimes he or she will be led by the specific interests of your kids. On the following page, there’s a sample invitation for use with prospective team members. Dear _____, I’m recruiting a small group of friends and family to help me raise a financially fit child.
Raising Financially Fit Kids by Joline Godfrey