Financial Advisors on Kids and Great Money Habits
Financial advisors are you helping parents and educators teach children to have great money habits? Below is what a variety of financial advisors and personal finance columnists have to say about kids, money, and financial education! Note, many financial advisors and personal finance experts share it is critical to start financial education early. Over the last fifteen years, we discovered at “It’s a Habit,” reading with kids is a fantastic way to begin the process.
Chicago Tribune: Kids, and parents: Read 1st About Good Money Habits
“…your son’s interest in investing should be nurtured, the first priority should be to instill good money habits, including saving, spending responsibly and sharing with those less fortunate…”
Humberto Cruz, Author, Columnist, The Savings Game
Orlando Business Journal: Money Matters
“During my 25 years of offering financial planning, I came to realize that families, especially today’s, desire financial education and advice in a format that isn’t intimidating, but friendly, based on their personal family values…”
Dollar Stretcher: Interview with Louis Barajas
“…The biggest mistake parents do to teach their kids about money is not being a role model to their kids. They need to follow their own advice and teach their kids by example…”
Financial Advisor IQ: Why One Advisor Schools Clients Kids in Finance
(Advisors teaching kids about money) “…is a huge value-add for their parents…”
Briaud Financial Advisors Blog: Money Messages Getting Them Right the First Time
“When we meet with new clients, the very first question we ask during their Goal Setting discussion is their first memory of money. For many, that first memory will be at a very young age…”
Roger Pine, CFP
American Association of Individual Investors: Money and Kids – A Parental Guide to Teaching Financial Responsibility
“…Knowing how to use money wisely is a critical skill that is best learned starting at a young age. Imparting this knowledge is an issue many parents wrestle with…”
Paula Hogan, CFP
Good Financial Cents: 29 Good Reads About Kids and Money
“It’s never to early to teach your kids to appreciate the value of a buck.”
Jeff Rose, CFP
Principled Wealth Advisors: Tips and Tools for Raising a Smart Investor
“…Although it may seem early to begin instilling investment know-how in your child, the first few years of life are critical for mental development…”
“…Renick can whip a gym full of elementary-school kids into a frenzy of enthusiasm for saving money minutes after bounding into the room…”
For financial advisors and brokers seeking fun, effective, and easy strategies to teach children great money habits at an early age, we strongly encourage you to get involved with Sammy Rabbit’s Dream Big Day Experience program. It includes reading to children, discussion, songs on great money habits, activities and more.
A big thanks to Brian Hart, Founder and President at Flackable, a Modern Financial Public Relations Agency for Registered Investment Advisors (RIAs).Brian inspired us to share a few of the ways financial advisors are contributing to their client and communities’ youth financial literacy efforts.
What great money habits do you recommend parents and educators teach kids so they increase their financial literacy and capability?