Sustained Solutions’ Post

3 Money Tips To Try With Your Children This Week 1.) Show opportunity cost. Another way of saying, “If you buy this video game, then you won’t have the money to buy that pair of shoes.” Your kids should be able to weigh decisions and understand the possible outcomes. 2.) Avoid impulse buys. “Mom, I just found this cute dress. It’s perfect and I love it! Can we buy it please?” Does this sound familiar? Children know how to capitalise on the “impulse buy”—especially when it uses someone else’s money. Instead of giving in, let your child know they can use their hard-earned allowance to pay for it, but encourage your child to wait at least a day before they purchase anything over R200. It will likely still be there tomorrow, and they’ll be able to make that money decision with a level head the next day. 3.) Stress the importance of giving. Once they start making a little money, be sure you teach them about giving. They can pick a church, charity or even someone they know who needs a little help. Eventually, they’ll see how giving doesn’t just affect the people they give to, but the giver as well. Learn more: https://lnkd.in/dcr_gQ6N #moneysmartprodigys #genxinstitute #finance #literacy #moneysmart

When it comes to raising financially-savvy kids, one of the best things you can do is talk about money! Check out these tips to help you teach your children essential money habits that will last a lifetime: 💡Explore the basics of earning and saving: Introducing an earning-based allowance not only teaches them the value of hard work but also the joy of earning their rewards. 💡Practice spending wisely: Introducing them to the concept of budgeting will empower them to manage their money effectively. 💡Explain the risks and rewards of borrowing: Encourage your older teen to learn responsible credit usage. 💡Encourage the heart and smart benefits of charitable giving: When your kids were young you taught them to share their toys. As they get older and start earning an allowance, teach them to set aside some of their earnings to support a worthy cause. 💡Give them a head start with a Registered Education Savings Plan (RESP). earn more about how you can set your kids up for financial success: https://ow.ly/t6aw50Sgc7r #FinLit

Our parents hugely influence how we deal with finances in later life, so it's never too early to start to #TalkMoney. But anyone with children will know how hard it is to make a four-year-old listen - so make it fun! Try a challenge or a game: 🎖️ Swap star charts for pennies or set household chores to show that money has to be earnt. 🪙 Set penny hunts - just like Easter egg hunts, but healthier! 🛍️ Role-play - your child can be the "shopkeeper" and decide how much to "sell" your items for. 🛒 Talk to them in the supermarket or shops - what can £1 buy? £5? £10? 🐖 Make pocket money educational. Instead of a piggy bank, encourage them to split it into jars; one to spend on sweets or small treats, one to save for bigger items, and one to give - perhaps to a charity the child cares about, or to buy presents for friends. #DoOneThing https://lnkd.in/gEAgnRbK

💡 Teaching Kids About Money: A Stewardship Approach Gary Bell, II CFP®, CWS®, CKA®, Managing Director from our Nashville office, shares that teaching his kids about money started with a simple allowance system. Check out our latest blog to learn how you can use an allowance to teach kids the essentials of giving, saving, and spending wisely! How It Works: Giving: 1/3 goes to charity Saving: 1/3 for future goals Spending: 1/3 for fun treats Make financial lessons engaging with weekly check-ins and a fun "Money Lunch!” Discover more tips and start teaching your kids about money at bluetrust.com/blogs. #Stewardship #FinancialPlanning #FinancialPeace #TeachKidsAboutMoney #Generosity #Giving

Today, on World Book Day, let's focus on the importance of personal finance education for young people 📚 Introduce children to books that teach them about money, saving, and financial responsibility. I would recommend “Grandpa’s Fortune Fables” by Will Rainey 👱🏻♂️. Each chapter explains key concepts and principals about money, wealth, risk, gambling, charity. My children and I enjoyed the chapter about Richie Raccoon - being wealthy vs being rich (a clear difference) P.S Do you have any recommendations for children's books on personal finance? #WorldBookDay #youngpeople #financialeducation #children

Money date with my other half, Austin Gelsheimer. Today’s agenda included: 💲Discuss charity - each decide on a charity that supports our personal interest/passions. 💲Discuss next steps with the potential “dream” land purchase. 💲Figure out last-minute 2023 tax questions. Benefits: ✨Kid-free time together ✨Time outside of the office ✨ Great money/goal-alignment check-in If you already don’t hold space with your SO for these money conversations, now’s a great time to start! What’s on your agenda? #money #moneygoals #finance

I recently read the book titled Die With Zero by Bill Perkins, and I suggest adding it to your summer reading list. A client recently mentioned that it had changed the way she thought about using money for the remainder of her life! She said it that really changed her thinking. While the title is unconventional, there is wisdom in this books that runs counter to advice you may have received as a kid. It outlines how money has a different level of utility in different seasons of life based on the relative abundance or scarcity of both time and money. A recurring theme is that certain phases of our life lend themselves to enjoying rich experiences that we may not be able to enjoy in the same way when we retire due to limited mobility or stamina. Bill suggests that we re-order some of our saving and spending habits to get the very most enjoyment out of our money and not leave anything on the table (hence Die with Zero). Bill outlines how to use monetary gifts to help children or worthwhile charitable causes when they need it most. The book is pretty short, only 240 pages or five hours of listening. Check it out and post any "aha moments" or "unlocks" in the comments! #BillPerkins #DieWithZero

7 Questions to Answer today with just A YES or NO Please be honest with yourself whilst answering these questions: • Are you currently comfortable with your current financial state? • Can your savings sustain for 1 year without working? • Can your savings sustain you for 6 months without earning any money? • Do you currently earn 6 figures in a month in pure profit after tax, tithe and charity? • If you were given an opportunity right now to elevate your financial status, would you key into it? If you answered Yes, would you want to earn more? If you answered No, would you want to elevate and upgrade your financial state? Don't allow your children go through what you went through. THINK WISELY!

One of the most important questions you will answer!?! @MoneyVehicle Capstone Character Project - What do you do when you have some money left over? In our character project we see the challenge each month as we question what our character will do with a little extra money left over? 1) Payoff a loan from family 2) Invest in my future 3) Nice dinner with friends 4) Give to charity None are a bad decision, but what this project is meant to do is challenge students to OWN THEIR DECISIONS. No matter what choice they make, the choice is theirs. #FinancialLiteracy #FinancialEducation #LearnMoney #SpeakMoney #FinancialEmpowerment #MoneyVehicleMovement #MoneyForBeginners

Happy Children’s Day! 🌟💰 Let’s teach our little ones the value of money early on. Start building good financial habits with these simple tips: 1. Save First, Spend Later! 🏦 Show them how to set aside a small amount of their pocket money in a piggy bank for the future. 2. Set Goals & Budget! 🎯 Help them create fun savings goals—like saving for a toy or a special treat! 3. The Power of Giving! ❤️ Teach kids the joy of sharing by setting aside a portion of their money to donate or help others. 4. Money Can Grow! 🌱 Introduce the concept of saving by explaining how money can grow over time when you keep it safe! Let’s raise a generation of financially smart kids! What’s your favorite money lesson to teach children? Drop your tips in the comments! 👇 #childrensday #smartmoneymoves #financialliteracy #moneytips #smartkids #dhc