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Showing posts with the label Parenting

Are We Setting Our Kids Up for a Successful Launch?

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As parents, we want the best for our children. We want them to have fulfilling lives and to achieve their dreams. But are the financial messages they're receiving—both from us and the world—truly preparing them for success? Our kids are bombarded with commercials and social media feeds that equate worth with what you own. They see a culture that prioritizes instant gratification, from expensive cars to luxury vacations. We might have built our lives and wealth over many years of hard work, but are we inadvertently teaching them that they should have it all right away ? The Homeownership Trap A common piece of advice many of us have heard is, “renting is just throwing your money away.” While the desire to own a home is a wonderful goal, encouraging a child to buy before their finances are in order can be a recipe for disaster. Owning a home isn’t just about the mortgage payment. It's about property taxes, insurance, and unexpected repairs—costs that fall to someone else when you...

The Family Financial Legacy: Actively Training your Kids about Money

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  I recently heard a friend describe what she had learned about love and struggles. She described a wonderful 40-year marriage that started with a few bumps when it came to finances. She and her husband had to learn how to communicate and use money together, because they came from vastly different family backgrounds. She grew up in a family that would save and plan for trips and vacations, always looking for cost-saving opportunities. He, on the other hand, grew up in a family that would say at 5 p.m. on a Friday, “Let’s go camping!” and by 9 p.m., they would be out at a campsite—no planning, no thought to the cost, just enjoying their time. Read more about Getting on the Same Page for Money Conversation here . We all come from different financial backgrounds, and we learn a lot about money by watching our parents. As another friend reminded me recently, “More is caught than taught.” Have you thought about what you are teaching your children or grandchildren by your actions? What...