| Are you concerned that your child may not be | | | | understanding your teens dreams you will get to |
| prepared for the financial realities of life? Every day | | | | know them on a deeper level plus you'll be helping |
| we send young adults out in the real world with | | | | them develop a skill that will last a lifetime. |
| dangerously little financial preparation. Often the | | | | The simple tips discussed lay the foundation of |
| results are disastrous. Find out the simple lessons that | | | | financial independence. Of course additional financial |
| will give your child an advantage. | | | | lessons need to be taught to help them handle their |
| Would you send your high school or college age child | | | | money; however helping your teen to have a good |
| rock climbing without training or the right equipment? | | | | head on their shoulders is the critical first step. |
| Most people answer 'no' because they do not want | | | | The next step is to build their financial education base |
| their child to taking wild risks. Yet these same | | | | so they are able to avoid the financial pitfalls that |
| parents are sending their children off to college | | | | plaque so many people. Here are three tips that will |
| without the financial training they need. They are | | | | help you prepare your child for a structured financial |
| sending them to school without a practical financial | | | | education course. |
| education and it's getting a lot of these young adults | | | | 1) Lifestyle. Children, teenagers and young adults |
| in trouble. | | | | aren't concerned with just 'money'. It is the things |
| Most parents are already aware that most public high | | | | that money brings them that is the main motivator. |
| schools do not provide young adults with a practical | | | | Relating money to time, freedom and lifestyle will |
| financial education. Yet these same parents | | | | inspire them to learn about money. Once they |
| understand how important financial education is for | | | | understand the personal freedom having money will |
| their children's future. So parents it's up to you to | | | | afford them, you'll find your children excited and |
| provide your children with the financial skills they need | | | | wanting to receive a practical financial education. |
| to make it in today's society. | | | | 2) Accounts Open their checking, savings, and |
| Helping your high school or college age child to | | | | investment accounts early. It doesn't matter if they |
| achieve financial independence will give them an | | | | are in kindergarten or colleges by getting these |
| advantage that they will use every day of their life. | | | | account set up early they will have an advantage |
| Below is a list of the top lessons you can teach that | | | | that will last a lifetime. The longer relationship you |
| will establish a solid foundation to raising a financially | | | | have established with a bank or financial institution |
| responsible teen. | | | | the more benefits your child may receive. What's |
| 1. High Ethical Standards - Developing a high moral | | | | more, young adults also feel an added sense of |
| character will help your teenager earn more money, | | | | responsibility for their financial future when they have |
| be a better job candidate and be an overall good | | | | the proper accounts open. |
| person that people respect. In today's society being | | | | 3) Invest early. Encourage your young adult to begin |
| a well respected member of the community will help | | | | investing as soon as they have money saved up. The |
| them gain financial independence. | | | | stock market is a great place for them to start; |
| 2. Proper mindsetA negative thought process can | | | | however do not go out and buy individual stocks or |
| hurt your child's chance at life or financial success. A | | | | mutual funds. Both are too risky unless you have |
| positive outlook attracts positive events so | | | | specialized investment training. There are other |
| encourage them to develop a mindset that will help | | | | options; you may decide to invest in the overall |
| them develop into a happy, well-rounded, financially | | | | market. |
| responsible adult. | | | | There are several investment vehicles available that |
| 3. Ability to Communicate -Raising a financially | | | | allow you to invest in the overall market that are just |
| independent teen depends on the ability their ability | | | | as easy as buying a stock or mutual fund. Making a |
| to communicate effectively. The ability to | | | | simple investment in the overall market may give |
| communicate will help them to stand out and increase | | | | your child lower risk, more consistent returns and |
| their chances of promotion. What's more great | | | | greater diversification. The best part is this strategy |
| communicators are more likely to be leaders within a | | | | is dead simple to do. Once they set up their |
| company or become successful entrepreneurs. | | | | investment account they can automate it so each |
| 4. Organization skills Achieving financial | | | | and every month the investment is made for them |
| independence at a young age will be aided by having | | | | automatically. |
| good organizational habits. Lead by example; show | | | | Getting your young adult prepared for the realities of |
| your teenage child how having an organized schedule, | | | | the 21st century is an important part of responsible |
| space, and life will benefit them. Doing so will allow | | | | parenting. Giving them practical financial education |
| them to reach their fullest earning potential | | | | before they move out on their own will continue to |
| 5. Passion Encourage your teenager to find and | | | | benefit them throughout their entire life. You would |
| follow their passions. Help them to consider how they | | | | never give your child a car without drivers training; so |
| can turn their passions into a fulfilling career. When | | | | make sure you give them a practical financial |
| your child loves what they do it doesn't feel like | | | | education before they move out. |
| work and they excel at what they do. By | | | | |