It’s never to early to start teaching your kids about money and finances. I’m so thankful that I started teaching them at a young age. Now my older kids are teaching my younger children!!
I began teaching my children about money as soon as they could count. We would count change together. As they got older, I would take them to the store and have them hold onto my coupons. They would match the picture on the coupon to the item on the shelves. The more they grew, the more involved they became with my shopping trips. From explaining how much we had in our budget to spend at the store, to how to maximize our savings with coupons, to taxes, and more. These trips led to many questions which led to more intense conversations about saving strategies as they got older.
I’m a firm believer that teaching children financial awareness and financial planning at an early age will guarantee them to have a better financial future all the way through retirement. Many may think it is silly to start thinking about our kids retirement when they are young. However, it’s never to early to plan for the future. This way they are aware of the importance to start putting away money as soon as they begin earning an income!
Now that two of my kids are pre-teens, our conversations are even more in-depth. They understand and are aware of the savings we have been working on for their college tuitions. They also understand mom & dad’s retirement plan! And, there is a huge perk about continuing to educate my kids on finances, budgeting, and retirement. I am learning right along with them! Yes, mom and dad are still learning too. This article called “Tips For Planning Your Retirement” was a huge help. Check out all the great tips the article has to offer like goal-setting! Want more tips and information on planning your retirement or helping your children to get off on the right foot? Genworth Financial is available to assist you with all your financial goals.