It’s never too early to teach kids and young adults lifelong money skills.
- Consider giving kids a weekly stipend of one dollar-times-their age—but with some responsibilities attached.
- Experts say that age 12-to-14 is a good time to start a capitation program for your kids.
- Young adults should have basic budgeting and money skills before heading off to college.
First in a series of age-related discussions about the financial, emotional and psychological aspects of life’s major money decisions.
- You’ve told us that financial literacy is one of the most important topics we cover in our newsletter, blogs and videos.
- Financial literacy is the ability to understand how money works in the real world and the skill sets needed to make informed decisions about all of one’s financial resources.
- April is National Financial Literacy Month and we’ll be sharing a number of educational resources with you about that important topic.
It’s never too early to start educating the next generation about the responsibilities of wealth.
- Three keys to understanding intergenerational wealth transfer are the importance of the balance sheet, cash flow, and taxes.
- Eighty percent of families are not able to transfer their wealth successfully to the third generation.
- Educating the next generation about the responsibilities of wealth must start very young—just don’t expect the next generation to handle wealth the same way you do.
Asking for help is not a sign of weakness; it’s a smart way to get through tough transitions in your life.
- Vulnerability is a strength; not a weakness.
- Many people, especially men, are conditioned to appear strong, independent and under control. Unfortunately when you fall, you fall hard with that approach.
- People who aren’t afraid to network and ask for help when tough times hit, can more easily navigate transitions, financially or otherwise.