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?
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 firstname.lastname@example.org
David Eggebeen at email@example.com
Robert Orndorff at firstname.lastname@example.org
Marc McCann at 237-1719 or email@example.com