Financial | Parenting
ByTamara
Thank you DiversyFund for sponsoring this post. It’s never too early to learn about investing for your future!
I’m so excited to be working with DiversyFund, and also excited to share tips on teaching kids the value of money. This is certainly the time for me to think about this. Scarlet is now 11 and is always thinking about kid-friendly business ideas. One of her best ones has been recent – a “Yarn Barn” business. She set up a cardboard storefront with yarn creations she’s already made, as well as an order form to order what you really want, plus a tip jar. She’s already made some money! Right before I went into labor last month, I ordered a red infant hat and she delivered! When her grandparents were staying here during the birth, they placed orders too. I LOVE that this creative kid came up with something so awesome. Kids are always thinking and dreaming.
5 Tips For Teaching Your Children The Value of Money:
Now that I have three kids, and one is much younger than his two siblings, I realize more than ever some things about saving for college, and for life dreams too. Saving for college is not a new topic for me – it’s more like a repeating topic – and in 11 years of parenting, I’ve learned how to include your kids in the process as well. It turns out, that it’s never too early to start, and that there’s no end to the creativity of kids and family time. And I can’t wait to share what I’ve learned!
DiversyFund:
Do you knowDiversyFund? It was founded on the belief that everyone deserves access to the same wealth-building tools that have long been used by the 1% to create and sustain generational wealth. They empower the everyday investor, with the ultimate goal of closing the wealth gap. In fact, their mission is to empower the 99% to invest like the 1%. And I love this for my family – this idea and plan that we can create bright futures for our children, and their children’s children, and so on. Oh, the possibilities are awesome as our family continues to grow.
The Value of Money:
1 – Give them a piggy bank! It seems so simple, and my aunt has given all three kids a piggy bank with their names on it right after they were born. They still all have their banks. Well of course the baby does, but the kids actively use theirs as well – to save for themselves and learn about saving for what they really want. Saving for themselves teaches financial independence and discipline. We also have a clear family jar to save for dream vacations and seeing it grow (or not) creates teachable moments.
2 – Open a savings account in your child’s name. As children grow, some banks offer debit cards to teach them about plastic money vs. paper money. And as they get even older and start working, they can contribute to their own savings.
3 – Help them! It’s not even just us. My kids have six grandparents who enjoy investing in their grandchildren’s futures as well. There are several ways to help, like with an allowance or building a nest egg for later, and it can vary throughout their childhoods and even early adulthoods. Sometimes, it’s especially important during early adulthood!
4 – Stress the importance of giving to children. It’s important that as they learn about making money, they learn about giving too – whether to a church or temple, donating to charity, or someone they know. Eventually children learn not only about how giving impacts others, but how it impacts themselves as well
5 – Model healthy choices, and they will learn through your wisdom.
Starting with DiversyFund:
With DiversyFund, you can start with a minimum investment of only $500 and no management fees. This makes it possible for you to diversify your portfolio with one of the most attractive—and historically profitable—forms of alternative asset investment: multifamily commercial real estate through the DiversyFund Growth REIT (real estate investment trust). Did you know that DiversyFund operates a private real estate investment trust (REIT) that consists of projects and properties handpicked by a team of expert real estate investors? These are experts who identify high-potential properties, buy them, manage them, renovate them, and then sell them for a profit. And when the properties sell, they split the profits among all investors in the trusts. That puts money back into your pocket! And this helps your family; and allows you to build your savings.
So, do any of these tips on teaching your children the value of money resonate?
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