Are You a Financial Role Model?January 29, 2016
Could someone special in your life be in need of your help? Pass what you have learned about earning, spending and saving onto the next generation by becoming a financial role model in these easy ways!
Tough economic times can impact us at any time in our lives, but the older you are, the more likely it is you have faced tight circumstances at one time or another. Even if you had to learn by trial by fire, you still gained the ability to take control of your finances and let go of things that drain you of them.
But, the journey to financial gain does not have to end there! Did you know that by using your personal experiences and wisdom, you can prepare your loved ones for such an event? This can greatly improve their ability to handle their day-to-day finances as well as in time of crisis or strain.
It is true! When you find out how to teach them what you have learned, it is not too late for the young ones you love to start gaining the monetary success you want for them.
Tell Them What You Are Spending
Share your expenses and spending budget with them. There is no way for them to know what things cost and how quickly bills, groceries, gas, rent, clothes, medicine can add up. Without a clear cut demonstration, it is too hard to understand.
Delve into Tax Time Together
Tax time is one of the few constants in life, so why not assist someone you love get accustomed to the idea by having them go thru the process of paying them with you?
Let Them Calculate the Tip
Out to lunch or dinner with someone who struggles with percentages? Show them how to compute the tip on a smart phone calculator app or move decimal points in their head.
Deliver the Gift of Saving Money
Opening up a savings account, giving a piggy bank or nice wallet can encourage, motivate and teach those who are unfamiliar with saving money to begin doing so.
Knowing when to buy can be even more important than knowing what to buy. Have you picked up tips on buying cheaper airline tickets during the off days and off seasons? Or buying clothes mid or post season to get sales on coats and bathing suits? Share this knowledge!
The Value of a Dollar
Nothing teaches someone the value of a dollar like some good old fashioned hard work. It does not have to be manual labor, outdoors, in harsh weather conditions. It could be as simple as paying a small amount per chore or errand as a reward.
Picking Possible Career Paths
Developing a path in life is vitally important, especially a financial future, yet it is often overlooked in today's secondary educational system. Encourage further education through enrolling in college classes, vocational schools or technical schools.