Do you invest goal based or tax based?

We all dream of travel. Whether it’s a simple weekend getaway or around the world trip, we all yearn to escape, disconnect and enjoy life to the fullest. Some might tell you that your dreams are too outlandish, too expensive or simply unachievable. What many of us fail to realize that these travel dreams of ours can be made a reality by simply setting financial goals and working hard to reach that.

5 tips to raise a money smart kid

 

It doesn’t take long for kids to grasp the value of money. Quickly they get the idea that money can buy things and that the more they save, the more they have. But how much do they really understand about smart planning, saving and investing. All too often, parents prefer not to discuss the subject of money with their kids. The truth is teaching your kids financial responsibility should start as early as possible. We all know, kids are constantly making choices between things that they want and the other things that they want. Parents have the opportunity to teach them about prioritizing, how to make trade off. Having those conversations early gives kids the opportunity to develop the skills on how to be financially independent, make good choices, to save and spend wisely. That helps them prepare for the future. 

Here is my pick to get started:-

Piggy Bank Adventure

Kids of today do not need to understand how money can be spent, but they need to know how money works. Parents should start the money education at the dinner table or take the help of these interactive websites that impart financial literacy in a fun way. Click here

Raise kids to be entrepreneurs

Entrepreneurs are not born, they are made. Teach your children to think like an entrepreneur. The key skills required to succeed, “can” and “should” be taught. You do not have to start a small business to teach your child about entrepreneurship. Try some of these little things to teach your child to self start. Click here

Let your child earn it

Allowing children some element of financial control may be one way to help them realize the value of money and build basic budgeting skills, which will help prepare them for financial independence when they are on their own. Click here

Set Milestones

By showing children how investing money on a regular basis can help them achieve their life and financial goals. This list of 20 items will guide parents to set milestones according to the age progression of the child and secure their financial independence for the future. Click here

Be a role model

What kind of a financial role model do you think you are? Have you ever even thought about it? You should think about it as your kids are watching and learning from you. Click here