Time has really flown by and your kindergartner is now graduating from high school – maybe even college. Where has the time gone? The last time you checked, you were walking them to the bus stop and now they are walking down the aisle to receive their diploma or degree. They have been successful in passing the tasks put before them and now the school agrees that they can move on to the next huge step in their life – and yours.
As you look back and recall, what have you done to prepare them financially. I do not mean what have you given them in the way of money, but what have you taught them with regard to managing money? Have you equipped them with the correct methods and processes to become financially successful in life? Better yet, have you been the example to them that will show them how to do it even though they may have never been “instructed”.
Time after time, I meet clients who tell me that “…my parents never taught me how to manage money” or I never learned the basics in school. Sadly, that number is huge in our country today and some might argue that the best of that bunch now reside in Congress. Many tell me that they developed their credit card habit by watching how they parent(s) used the plastic and they had no idea how fast they could amass debt.
So, what have you taught your child in managing money? Are they ready and equipped or do they have your credit card and cell number?
It is not too late! Even though they may be walking down the aisle any day now, it is not too late for them to learn the power of managing money. You can be the one who sets them on a positive path financially. Taking steps now will save you and them heartache in the future.
