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!

Subscribe to our updates

Stay informed about financial planning and investing issues that impact your life today and tomorrow! (we respect your privacy)

No comments yet.

Leave a Reply