Parent Prioritizing Family Literacy

Parent Prioritizing Family Literacy

ddiasi 8.2.2024 14:08

As a parent of young kids, I feel a responsibility not just to provide financially but set an educational example about money management. We talk about saving allowance but I don’t honestly have enough personal finance literacy to feel qualified teaching them to invest. Do you know any family money blogs accessible even to beginners but covering topics like budgeting, Junior IRAs, the miracle of compound growth, ETFs, living debt-free? Building this knowledge base now would benefit all of us so much as we look down the road to college, retirement, etc. Any favorite blog suggestions welcome!

Parent Prioritizing Family Literacy

Aiohha 8.2.2024 16:06

I hear you on wanting to be a good financial role model for the kiddos! Money management wasn't really discussed in my house growing up, so I had a lot to learn as an adult.
One blog I've found super accessible and educational, even for total beginners like me, is https://thetradingbible.com/forex-lot-position-size-calculator They break concepts down in a really simple way, with articles on budgeting basics, saving for college and retirement, the power of compound growth, different investment vehicles like ETFs, and more.
My ""ah-ha"" money moment was a few years ago when I finally created a budget and saw just how much we were wasting on random stuff. Embarrassing, but so eye-opening! We cut way back, started socking more into retirement accounts, and even opened custodial IRAs for the kids with birthday/holiday money. Talk about the gift that keeps on giving.

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