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Money Minute
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Instilling Financial Values in Your Child
Money Minute
Financial success can often be linked to two key traits: discipline and goal setting. Instill these characteristics in your child, and they’ll have a strong foundation for future financial success.
 

Financial success can often be linked to two key traits: discipline and goal setting. Instill these characteristics in your child, and they’ll have a strong foundation for future financial success.

A good way to teach your child discipline is to have them save half of their allowance, birthday and holiday money. This will help them see the importance of paying themselves first.

To teach the concept of setting goals, consider having them save money to purchase one share of stock in a company they might like. For example, if they like technology, perhaps they can save for shares of a tech company; if they love video games, perhaps they can save to buy a share of their favorite video game developer. Not only will this encourage your child to set goals, it will also give them a head start on their investment portfolio.





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