3 Important Tips For Teaching Kids About Money

Your child’s understanding of financial matters is a major determining factor in their future success as an adult. You must teach them financial responsibility while they are still in the comfort of their own home.Empowering our children with practical financial education skills before they leave home will help them avoid money issues many of their peers will face. Understanding the financial market can be challenging, so young people need to learn the importance of money as it applies to their life. Here are some tips for teaching kids money.As soon as your child is able to complete household tasks assign them jobs which allow them to earn money. When your son or daughter has completed the chore pay them and have them split up the money so some goes into money they can spend now, money that is saved for their long-term financial security, money that is saved for something bigger that they want to purchase and money to give to a cause they support.All children should have chores to do at home just to help out, and they shouldn’t be paid for them. Give kids the opportunity to do various household tasks for a set fee. Encourage them to choose one. Remind them that they must do it well in order to be paid. Although some children may want all the money now; make a big deal about this process and get them focused on the bigger picture. Teaching kids money skills will take dedication on your part. Resist the urge to let them use the money other than what it is allocated for.2) Continue teaching kids money skills as they grow. Their financial education should continue until they leave the security of your home. During their junior high years expand their financial education skills set by including them in your financial decisions. Next time you go to the bank, visit your tax planner or financial advisor bring them along. By including your kids in activities you can make it fun for your child to learn about money skills during these years. This way they get a first hand financial education experience that can benefit them throughout their life. Also during these years spend time relating money to lifestyle. Talk with them about the lifestyle they want to live and directly relate that to picking up financial education skills. Teaching kids money skills is a lot more effective when your talking about lifestyle rather than financial security.3) Once your child becomes a teenager and is old enough to work, have them get a job. Many parents prefer that their children do not work while in school. Well if they are not involved in extracurricular activities and just have school it is important they learn how to effectively manage their time. Teaching kids money is as much about teaching them the direct financial education skills like savings and investments as it is about helping them build the skills that will help them command a higher salary.Have a family meeting and discuss your expectations for your children. Set a minimum percentage of his pay that he will be required to save for the long-term, save for the mid-term purchases, donate to others and money they can spend now. It is also recommend that you allow them to choose one of the bills, such as the light bill, water bill or gas bill let your child know he or she will be responsible for paying it on time every month.Follow these tips for teaching kids money and helping them pick up financial education skills, and you will set the stage for your child becoming a responsible, successful adult. If you neglect to teach your child about money, the future may not be so bright.

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The Fight For Money – Arm Yourself With Stock Trading Education

Stock Trading is a premier battleground in mankind’s quest for riches. Practitioners of this trade are often compared to warriors; living and breathing their craft. So if you have plans of becoming a stock trader and are thinking it’s just like art class that all you have to do is sign up, then think hard and then think some more. In this world, the weak have no place and even the strong can get devoured in a matter of moments. You have to be ready and arm yourself with these trading education tips.1. Just like in a real battlefield, you have to be familiar with what you’re doing right from the start. Find a reputable stock broker online and open an account with them. You don’t have to trade just yet, but it will give you the opportunity to have a feel of what the real thing is all about. Plus, being an account holder, you can ask the pros for help in finding your way in the business. Think of it as a trial version. At the very least, should you find out it’s too complicated for you then you’ve saved yourself from flushing down thousands of dollars down the drain.2. Stock trading education requires you to be a reader. Don’t be too lazy to open a book or magazine about stock trading. You can never read too much on anything. You can even find free articles on the Internet and you have to capitalize on that. Five decades ago, you need to buy books if you want to learn about anything. They were very expensive and if you can’t find what you’re looking it’s either you buy another one or borrow someone else’s. Today, you can Google almost anything.3. Consult Experts. The veterans of this trade are more than willing to pass on the torch to willing students and it should be you. Attend seminars these gurus often hold. Buy their books. You will be able to acquire stock education by doing that. Don’t be afraid to ask questions no matter how elementary they may sound. It’s better than losing real money because of a mistake that you could have avoided if you only asked the right persons.4. Stock Trading Simulation. Rookie traders are very lucky today because simulation stock trading software is readily available on the Internet. Some programmers even market them as games. Try them yourselves and see if you can master the ropes without actually spending money. Talk about free stock trading education right at your home!There are numerous guidelines and tips on the Internet that you can tap for help if you’ve decided making a career in stock trading. But they won’t mean anything if you don’t go out and get your feet wet. You can have all the stock trading education, but real experience is the best teacher and you have to accept early on the fact that you will lose money along the way. It’s inevitable and even the best in the business will tell you that.