As a regular contributor to the Equifax blog, I’ve been asked to write monthly posts about the good things that contribute to a full life. This month’s blog targets parents who want to guide their children to financial independence.
There’s no need to wait until your children are graduating from high school or leaving for college to begin talking about money management.
As parents, we want our children to be successful and happy in life, but teaching them financial independence often gets put on the back burner. Here are three tips to help your children forge a path to financial independence:
1. Talk about financial goals with your children and then help create a plan to set them up for success.
2. Utilize money management tools to gradually increase your child’s level of responsibility and independence.
3. Be a role model for fiscal responsibility. Children watch to see how adults earn, save, and spend money. Make sure your example is one that sets the tone for their future success.
For more direction and insight, read the full post on the Equifax blog.
Deb Hornell is a visionary whose personal brand of “Cultivating Environments for Growth” extends into her consulting practice, her family and friendships, and her book: "Good Things for a Full Life."
Follow Deb