Teaching children good financial habits is essential. As a parent, the challenge is not only to provide money for your family, but to pass down solid financial know-how to your children. Past experiences govern where we stand today and underpin our monetary beliefs, strategies and habits.
I had left school by the time my parents finally bought their own home. By witnessing their struggle, it made me determined my children wouldn’t have the same experience. I was a property owner aged 18 and I’ve since built a strategic portfolio of residential investments throughout Australia.
The launchpad for my real estate career was witnessing people in the business and realising I could do it better. I found my inner ‘teacher’ and started with family and friends, making sure they had the right strategies to build wealth and enjoy financial security.
Over the years, it’s become more and more evident that good habits learned early are integral to financial success. That young investor you see with a skyrocketing portfolio? They didn’t fritter their money away – instead they saved, invested wisely and can now reap the rewards.
Last year I had fantastic feedback on one of my blog posts about children and money. I’m going to share them again in case you missed them – the advice stands and it’s early enough in 2016 to look at your own family’s habits.
* My top 5 tips to teach children about money – click here.
As always, if you have any questions, leave a comment below.
Until next time,
From the desk of Christine.