Whats the best way to teach my children about the importance of saving and investing?
As soon as our children began receiving allowances, they were required to save one third and give one third. The remaining third was spending money. Each child’s savings was pooled with financial gifts from grandparents, aunts, and uncles and invested in America’s finest companies. We also encouraged our children to get excited about investing with a simple rule: Whether you’re given money or you earn it, if you invest that money we’ll match it dollar for dollar. Who wouldn’t love such a deal? Children see their money grow, actually double, right away, and they learn the power of investing. More tips for teaching your children about money are available in our Worry-Free Family Finances.
