Finances…ugh…how do we as parents do it all and get it right…or somewhat right? Well, we probably don’t, but we sure try. And so, what ideas can we as parents pass on to our kiddos regarding finances to plan for their future to get them in the right direction?
In a recent interview, Snowe Saxman, Success, Wealth & Women’s Expert + two time Amazon Best Selling Author, shared some insight on how we can help our kiddos on their financial road to success.
Here are some of Snowe’s insights:
- Start early
Don’t wait to talk about finances with your children until they are tweens or teens. Snowe’s 4-year old is already learning and helping in the family’s business. Children see and hear about family finances and bills daily in the household and parents should remember these conversations to be positive ones. Responsible financial practices are important for all ages. Core beliefs in children are developed between ages 2-5..whether it’s politics, religion, etc. and so finances discussion can start early.
- Have a plan
Strategize with your tweens/teens a plan for their finances for a financial goal. Employ them or have them get a part time job. By creating an income for them, it is teaching them the responsibility on how to earn money and in return introduces taxes and banking responsibilities and skills that they really aren’t even going to learn in school or college unless they are going down that path or career. Educate children on saving $, giving $ and then strategize a plan to get more $ to get the things they want. Have a plan, but also be open to change a plan when necessary as life changes every 90 days.
- Introduce the world of credit
Teach older children how to leverage responsibly with credit cards. Educate the importance of paying off credit card bills each month so credit can be built in the long run, but not to have all these credit cards in their wallet.
- Be a role model
All in all….“Things are caught more than taught!” as Snowe states. We as parents are our children’s role model. Pass on the right financial values with your children as they will imitate what they see from you…their greatest role model. These core financial values will be true to them for years to come and to share when it’s their time to pass the torch.
I personally want to thank Snowe Saxman for this interview and for sharing her wealth of financial information.
For more info from Snowe, go to: http://snowesaxman.com/
Snowe Saxman is a Success, Wealth & Women’s Expert + two time Amazon Best Selling Author. She is married to love of her life, Paul. They have 7 children and 2 grandchildren. Yes, Snowe is a Glamma. Someone way too young and gorgeous to be called Grandma. She was a millionaire at age 25, living on food stamps + bankrupt by age 35 and now she is earning multiple six figures on her way to Millions again. With God’s help, she has been able to channel a painful past into a purposeful future and rebuild her global empire by teaching women God-Inspired success, financial & business strategies. She has a degree in Accounting and studied for her MBA. She is a certified Tax + Neuro Coach, also known as the Money Oracle. She believes that we can change the world when we live our lives God first, family second and our careers third. She has been an entrepreneur for 17+ years and has been featured as the go to financial expert on Direct Capital, NBC, Fox, Fast Company, Entrepreneurs on Fire, the Huffington Post, US News and more. Today she teaches women God-inspired success, financial + business strategies. She can show you how to successfully improve your money mindset, create, manage, and multiply your money, because she’s done it herself. What makes her unique is that she is heart-centered, but results orientated. She uses a masterful combination of business savvy, money expertise, and a strong faith to improve your money mindset and a help you create, manage and multiply money! Her approach is God-centered & faith-filled. God Family Career + Everything Else. Her mission is to empower women to live emotionally, spiritually and financially free. Her passion is to help you build a six figure business in a smart, soulful way that allows you to have more quality time at home with your family. She lives by the belief that: “It’s not just about making more money, it’s about helping more people.