Teach Your Child About Budgeting Money At An Early Age
Until your children reach college age, experts say not to waste your time trying to teach them about investing. They really don’t have any interest in investing at the younger ages, but generally are receptive to learning about budgeting money and saving. Of course, there are exceptions, and if your child is interested, then go for it.
We do recommend however, to place a priority on teaching your child money management and budgeting money at an early age, especially when they begin receiving an allowance. It’s a shame that more adults living today didn’t receive proper training in creating a budget and living within it. The number of home foreclosures and bankruptcies being filed on a daily basis, point this out.
We realize, however, that the current economic downturn, and job losses, led many to bankruptcy through no fault of their own. Some bought large homes with low floating teaser rates, and then when rates increased, they were caught in a squeeze.