What’s the most important lesson you can teach your children?
According to a recent survey conducted by Braun Research out of Princeton, New Jersey, many Americans think giving their kids the knowledge to be responsible and successful with their finances is near the top of the list.
This particular study questioned 1,000 people last month who have investable resources of at least $250,000. So it’s important to point out that this research focused on those who are on the wealthier side.
What’s really interesting is that 51% said “financial know-how” was the most important life lesson compared to 54% who said “maintaining family ties” should be the top priority. Obviously some of those questioned must have given both choices the same weight – but it shows how much importance this section of America puts on financial security.
So how can average Americans teach their children about personal finances?
Good parenting means you don’t rely on the school system to teach your children everything they need to know. Good parenting means being someone your child can look to as an example.
The first step to teaching your children how to be good stewards with their money is to get control of your own personal finances.
Start making sure you balance your checkbook on a regular basis. Depending on how old your children are, you may want to sit down and explain how to do it with them.
Personal checks can be a great way to teach kids how to be responsible with money. Even the simple skill of properly writing out a personal check can be a valuable lesson for your elementary age kids.
The brains of children are like little sponges. When you teach them things like personal financial management early on it sticks with them into adulthood.
Children really are our future. But sometimes it does seem that the future isn’t quite as bright as we’d like it to be. Social Security probably won’t be around when our kids are ready to retire. The cost of going to college keeps going up, but the need for a college education keeps becoming more crucial if young people want to find a good job. Too many Americans are falling deep into debt because of unhealthy spending habits and using credit cards too often.
All these reasons make it extremely important to teach kids about personal finances. But it really shouldn’t be your top priority. That family connection should always Number One on the list.
Fortunately – the two go hand in hand.
If you want to show your kids you really care about your family, taking care of your household’s finances should be part of that, and teaching them the skills to do it when they are on their own should as well.
Remember – learning can be a lot of fun especially if you make it that way. If your child gets an allowance, start teaching him or her how to budget.
It can also be a lot of fun when you order new checks online. There are so many different designs to choose from, and your kids will love helping you pick them out.
So grab the kids – get online – go to Check Advantage – and order your new personal checks today!