Quote Of The Week: Start Early to Raise Money-Savvy Kids

baby with piggy bank“Basic financial habits are set by age 7, and even 3-year-olds can grasp some financial concepts.

When kids are very young, you can stress the virtues of waiting and delayed gratification, and as children get a bit older you can drive home the idea that spending less than you have is the linchpin of a healthy financial life.

Studies have shown that simply opening a college savings account for a child, even if it contains an extremely small sum, will exponentially increase the chances that he will go to college.”

Beth Kobliner, Start Early to Raise Money-Savvy Kids, July 27, 2014, The Wall Street Journal

Ms. Kobliner is the author of the forthcoming book, “Make Your Kid a Money Genius (Even If You’re Not)” (Simon & Schuster), and a member of the President’s Advisory Council on Financial Capability for Young Americans.

 

 

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!
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