Understanding the importance of saving and investing money, along with some good ways to do this, are important life skills which can be learned. Fathers are in a powerful position to help their children at all ages in developing these skills. ACTION IDEAS:
• Check in regularly with your children about money issues. Carefully listen to what they are saying. Think about and give consideration to their comments so that you understand their perspective. • Keep an eye out for "teachable moments" - Times when your child inquires about a money-related issue, or an interesting one arises This is often an opportune time to explain a money issue or concept in detail. • Money lessons, and how you approach them, vary greatly with age. Each child is an individual. Some ideas to START your thinking: Elementary - The value of saving small amounts of money over time to make big purchases. Help them to set up a savings account. Guidelines on spending limitations should be decided with your spouse. Mistakes now may be the best lessons to help avoid bigger and more costly mistakes later. Middle School - Help them make a budget (include savings). High School - Actively discuss investing options (savings accounts to more risky stock investments) Make it fun! College - Show them how you saved. Encourage them to think about beginning now to save for a house, or to start a business, or even to start planning for THEIR children’s education. If you don’t work with your kids on saving and investing, how will they learn?
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The local fathering effort, in cooperation with the National Center for Fathering, provides bi-weekly action ideas to stimulate conversation between fathers and parents.
For more information, or to join local conversations, contact
Mick Trombley at email@example.com
David Eggebeen at firstname.lastname@example.org
Robert Orndorff at email@example.com
Marc McCann at 237-1719 or firstname.lastname@example.org