Monday, July 4, 2016

Light The Fuse Of Financial Independence For Your Child: 10 Tips

Today’s fantastic family finance article is:

Independence Day Sparkler


“Independence is happiness.”
~Susan B. Anthony

Happiness. Dignity. Freedom. Security. Financial independence is all those sweet things.

How can you make sure financial independence is in your child’s future?

Light the fuse early with these 10 tips:

  1. Explain to your kids why they should care about money in the first place.
  2. Make the connection between money and work in your child’s mind.
  3. Teach kids the harder they work the “luckier” they’ll be.
  4. Help your youngster secure an odd job around the house, neighborhood, or Internet.
  5. Outsource a few freelance gigs to your teen instead of to some random person on the Internet.
  6. Hone your teens interview skills at home with a mock hiring session.
  7. Convince your full time student to get a part time job.
  8. Teach your kids how to tell their dollars where to go instead of asking where they went.
  9. Teach your kids these automated micro-saving tricks.
  10. Get your teen started on investing early with a Roth IRA, a low cost index fund, and a parent match.

Why should you bother? Susan summed it up nicely for girls and boys alike:

“I think the girl who is able to earn her own living and pay her own way should be as happy as anybody on earth. The sense of independence and security is very sweet.”
~Susan B. Anthony

Spark the financial independence flame in your child today.

Independence. Happy kids. Happy parents. Happy Fourth!


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