Jenius Bank’s Post

As parents, one of the most important lessons we can impart to our children is financial literacy. Equipping them with the knowledge and skills to manage money responsibly will set them up for success in the future. Here are four essential money tips every parent should teach their kids: 1. Start Early: It's never too early to start teaching your kids about money. From a young age, involve them in age-appropriate discussions about saving, spending, and budgeting. Encourage them to set aside a portion of their allowance or earnings for savings goals. 2. Lead by Example: Children learn by observing, so set a positive example with your own financial habits. Demonstrate the importance of budgeting, saving, and avoiding impulse purchases. Involve them in household financial decisions to help them understand real-world money management. 3. Teach Delayed Gratification: In today's fast-paced world, instant gratification is everywhere. However, teaching your kids the value of delayed gratification is crucial for long-term financial success. Encourage them to save up for items they want rather than relying on instant purchases. 4. Emphasize Financial Responsibility: Instill a sense of responsibility in your kids when it comes to money. Teach them about the consequences of overspending, the importance of living within their means, and the value of giving back through charitable giving. By applying these simple yet impactful money management principles, you'll empower your children to make smart financial decisions throughout their lives. Remember, the lessons you teach them today will shape their financial future tomorrow! For more money-saving insights, read my new book "Your Best Financial Life" now! https://lnkd.in/dhxZ7d_f #FinancialLiteracy #MoneyManagement #TeachingKidsAboutMoney #SmartMoneyHabits

Ever wonder how financial advisors teach their kids about money? There are many different ways to approach teaching these livelong lessons, and in this episode of If Money Were Easy, Gabe Brenner shares what steps he took when raising his children. From teaching the rewards of saving, investing, and giving, to the importance of making money mistakes early, he discusses his approach to instilling healthy money habits and raising financially savvy children. https://lnkd.in/eprdCkfh

Wandering Thoughts: Are parents the right people to teach kids about money? Yes Absolutely! Dear Parents, In a world filled with tempting desires and instant gratification, instilling financial common sense in our children becomes more crucial than ever. Let's equip them with the basic rules of money management, ensuring they grow into financially responsible and secure adults. Money Basics: Money is like a tool. You earn it by working, and you can use it to buy things. Loans and Borrowing: Sometimes, people borrow money for big things like houses or cars. But, borrowing means you have to pay back more than you borrowed. Credit Cards: A credit card is like a magic card that lets you buy things without using real money. But, be careful! If you don't pay the full amount, you'll owe more. Saving and Spending: Saving means keeping money for later. Spending is using money to buy things. We need to find a balance between saving and spending. Emergency Fund: Imagine having a superhero fund that helps when unexpected things happen. That's what we call an emergency fund! Setting Goals: It's cool to have goals, like saving for a toy or a special trip. We plan how much money to save each week to reach our goals. Budgeting: Think of a budget like a plan for your money. We decide how much to spend on different things, like food, clothes, and fun stuff. High-Interest Debt: Some debts are like sneaky monsters because they charge extra money (interest). We want to pay those off first. Talking About Money: It's okay to ask questions about money. We talk about it as a family and make decisions together. Learning From Mistakes: Everyone makes money mistakes sometimes. That's how we learn to make better choices next time. Being Patient: Waiting for something special can make it even more exciting when you finally get it. Patience is like a superpower! Adapting to Changes: Sometimes, things change. We learn to adapt and find new ways to manage our money. Remember, learning about money is like an adventure. We're all on this journey together, figuring out how to make smart choices with our money! #financialeducation #MoneySmartKids #TeachingKidsAboutMoney #ParentingTips #KidsAndMoney #financialliteracy #moneymanagement #smartsavings #TeachingFinance #MoneySkills #financialresponsibility #ParentingJourney #moneytalks #RaiseFinanciallyFitKids #FutureInvestors

Want to give your kids a head start on their savings? #BeAMillionaireDay is the perfect time to brush up on the steps you can take to set your children up for financial success in their futures. "Starting really early can really help when saving for bigger purchases later in life like college tuition, a car or a big trip," said Josh Miera, group banking manager. Read these 13 tips for raising money-savvy kids: https://ow.ly/J0HQ50RKmho

Want to give your kids a head start on their savings? #BeAMillionaireDay is the perfect time to brush up on the steps you can take to set your children up for financial success in their futures. "Starting really early can really help when saving for bigger purchases later in life like college tuition, a car or a big trip," said Josh Miera, group banking manager. Read these 13 tips for raising money-savvy kids: https://ow.ly/J0HQ50RKmho

Want to give your kids a head start on their savings? #BeAMillionaireDay is the perfect time to brush up on the steps you can take to set your children up for financial success in their futures. "Starting really early can really help when saving for bigger purchases later in life like college tuition, a car or a big trip," said Josh Miera, group banking manager. Read these 13 tips for raising money-savvy kids: https://ow.ly/J0HQ50RKmho

REASON 2: Financial habits, feelings, and atttiudes are established very early in life. And, they can persist throughout adulthood whether they are good or bad. READ more. ADD your thoughts in a comment. #bank #banking #creditunion #nonprofit #financialliteracy https://lnkd.in/gzYAdypK

👨👩👧👦 How much allowance should you give your child in college? Should you provide them with a credit card? How do you make sure they learn how to budget? I often get asked these questions by parents and grandparents with children in college. Here’s a list of steps you can take for your student. 1️⃣ If you haven’t already done so, you might want to set up a separate bank account for them and link it to your own. You can show them how to use the app to monitor balances and transfer between savings and checking. 2️⃣ Show them how to monitor their balances and transfer money from checking to pay off their credit card. 3️⃣ Show them how to monitor their balances. 4️⃣ Help them set up their own mobile payment accounts, such as Venmo. 5️⃣ Encourage them to update their passwords on their most-used accounts. 6️⃣ If you are preparing to help with costs, consider scheduling an automatic allowance deposit every other week to mimic the typical bi-weekly payroll process 7️⃣ Consider an overarching theme of lifetime lessons to be shared. For instance, a theme could be “How to be a good steward with your money.” Lessons could include the Rule of 72, the mindset or benefits of being charitable and managing taxes. A future lesson could include behavior finance. Today, I am grateful for the financial lessons that were taught by my father and grandfather. Remember, preparing your children for financial independence is one of the greatest gifts you can give them. 🎁 Share this post if you found these ideas useful! 💡 #ParentingTips #CollegeFinance #FinancialLiteracy

What does it mean to raise financially savvy children? What do our children need to know about money? Read Susyn Wagner's blog to learn more as she shares from her experience as a financial planner and the knowledge that's been passed down to her from the previous generation. #wagnerinvestmentmanagementteam #womenintheknow #money #thenextgeneration https://lnkd.in/gAuUzYBh

What does it mean to raise financially savvy children? What do our children need to know about money? Read Susyn Wagner's blog to learn more as she shares from her experience as a financial planner and the knowledge that's been passed down to her from the previous generation. #wagnerinvestmentmanagementteam #womenintheknow #money #thenextgeneration https://lnkd.in/gbNZAssK