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Home › Articles › General › Raising a Financially Literate Child

Raising a Financially Literate Child

What You Need to Know to Teach You Kids About Money

By Diane Kennedy

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  • Find a problem and fix it. A family began investing in real estate in their spare time. They soon discovered a niche market in buying houses with run-down yards and "sprucing" them up. The family perfected the technique for what they called "quick-scapes" and soon this service was in demand with other real estate sellers. Their teenage daughter took over that part of the job – overseeing the purchase, planting and watering – and soon had a thriving part-time business.

  • Help them find their strengths and capitalize on them. What is your child's passion? One of my client's children loved drawing. He was able to turn that love into a sideline that paid for his college tuition by designing logos for businesses. Your child has strengths that, if properly nourished will help them succeed – in business and life – with delight and excitement.

    • The opportunities are great now for your children and their future, provided they are prepared to take advantage of those opportunities. Give them a head start by improving your personal financial literacy and save some tax dollars as an added bonus. Then, teach them the same secrets to be rich.


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