Investing isn’t something we’re taught in school. In fact, finance in general usually isn’t taught in school. I don’t blame the schools, because most teachers don’t feel qualified to teach such a class. There are plenty of other reasons why finances aren’t taught in schools.
I see headlines on blogs all the time like, “giving your kid an allowance is the worst thing you can do.” I’ve also seen headlines promoting the opposite. I’ve seen things like, “stop paying your kids for chores,” as well. And I’ve read all of them. They all have something in common.
I grew up in the “we don’t talk about money” generation. Actually, it seems like that’s been every generation. My parents didn’t talk about money, but their parents really didn’t talk about money. Somewhere along the way it became the norm to keep kids in the dark about the family finances.
Smarter, not harder. That’s the goal, right? In investing, smarter can mean a lot of things, but one of the easiest ways to invest smarter is to invest younger. These are eight reasons it’s so important for your kid to start investing as early as possible. There are many more reasons I’m sure, but I feel like eight is enough.
Try to find some books on teaching finances to kids, and you’ll be surprised that not many exist. It’s not a popular topic. Maybe this is part of the reason so many adults are now struggling financially. Maybe there aren’t enough authors who are qualified to write on the topic. Whatever the reason, don’t worry, because there are some great books out there.
When it comes to teaching children about money, most parents feel inadequate. It’s hard to feel qualified when you’re not doing great with your own money. Good news! You’re more than capable of teaching your kids about money.