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Financial education in childhood is critical
Why?
Because the financial rewards are astronomical when you learn about money at a young age, you are insatiably impressionable and like a sponge for healthy habits. Money management is an invaluable habit to learn early in life.
Most people remain financially illiterate and leave nothing but debt when they leave the earth.
It’s more common to know how a football game is played than how to manage money successfully.
1 Read Finance Books At The Dinner Table
Though my parents weren’t financial experts, we read books at the dinner table, allowing everyone to learn about money, ingest new knowledge, and change their financial habits.
Once we stopped reading finance books at the dinner table, I continued reading them and investing in learning about money.
But it all started with my parents. They implanted curiosity within my mind.
2 Gift Me A Piggy Bank
On top of the finance reads, they also got me a piggy bank with three sections:
Savings
Spending
Giving
Early on, I learned that these were the three categories I needed to learn about to manage and build a financially sound portfolio properly.
If you only know how to manage one category without the others, you will have imbalanced finances.
3 Expose Me To Millionaires & Billionaires
The third most important thing they did was expose me to millionaires and billionaires at a relatively young age.
By doing this, they expanded my thinking, my goals, and my vision for my life.
They caused me to think bigger than my typical environment allowed.
7 Things Research Says About Kids That Use A Piggy Bank
Who knew the pig with money could be so useful for our kids’ financial futures.
Why Does The Average Person Earn Average Income?
Why does the average person earn an average income?
Most of the time, that’s all they were exposed to, and it’s what they will often be exposed to in real life because they don’t know anyone with genuine financial wealth.
Parents, YOU Have An Opportunity
Parents have a tremendous opportunity to influence their children’s financial futures. We don’t have to repeat the cycle of bad money management.
Though I don’t have kids myself, I offer my siblings, friends, and my friends who are parents knowledge about finances.
As I’m scheduled to be a godparent, one of the primary things I will do is ensure my godchild and I have conversations about money. Thankfully, their parents are on a healthy financial track already.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.