A simple way to raise a financially smart kid.
If there’s one thing we’ve all learned from the current pandemic, it’s that it’s important to save for a rainy day.
I came across a pretty shocking statistic the other day – more than 50%+ of Americans have less than $1000 in savings.
With unemployment skyrocketing and most business at a standstill, that doesn’t leave enough money for most people to cover even one month’s expenses without pay.
As I mentioned last week, there are many ways to recession-proof your income; whether you work at a traditional job or have your own business.
And when you receive income, it’s also important to remember that a certain % of it needs to be set aside each month in a savings account so that the next time a medical emergency or pandemic, recession or depression arises, you’re prepared and able to weather the storm relatively stress-free.
But how do we teach these important financial lessons to our kids?
With the kids stuck at home and this BIG financial life lesson on our minds, NOW is a great opportunity to teach your kids how to Save, Share & Spend money responsibly.
One really cool way our family is getting our son engaged in both doing his chores (WITHOUT COMPLAINING!) and learning how to manage his money is by utilizing this pretty fantastic new tool – the Greenlight Debit Card for kids.
The Greenlight Debit Card uses a physical debit card + an app to teach kids how to take the money they earn through chores or assignments and allocated them into Spend, Save, & Share buckets.
It helps kids think about the types of things they really want to spend by letting them track and see their spending, saving and sharing accounts increase and decrease in real time! It’s a pretty darn cool system.
And even though my son has really mean parents who have not let him have a smartphone yet, he’s able to use the app on our family tablet and manage his money that way.
There are also a lot of great parent controls and financial education information tools for your kids through the program.
Starting your kids off with an understanding of the importance of putting away a percentage of their income each month in savings will make a BIG IMPACT on keeping them secure and stress-free in the future.
Jen Wittman knows how to throw a party – both online and off.
A trained chef and fluent in Italian, she invited 125K+ guests to her email list, and guess what…they all came!
If that isn’t enough to pop the cork, she also grew her online health coaching business to multiple six-figures within a year and sold it just a few years later for even more…
An on-again-off-again world-schooling mom, Jen creates lifestyle businesses for her clients and herself too; so she can travel with her husband and son across the globe, wherever they want, whenever they want. (This year, they enjoyed the delights and sights in Italy, Spain, London, and Norway!)
Maverick feats include: getting banned from a grocery store for throwing a box of keepsakes at her ex-boyfriend (he cheated) and having her husband agree to support her mission to make Jon Hamm her future husband (WIN!).
If her face isn’t buried in a bowl of chocolate, she’s changing people’s lives with her healing platform for Thyroid & Autoimmune conditions, building online empires, writing a second book or battling wills with her more-than-mischievous 11-yr old.
Jen helps inspired entrepreneurs, small business owners, online businesses and network marketers with complete business build outs, automated client/customer attraction systems, strategic marketing and income generation plans, recession-proof strategies, best-selling book launches, and business blueprints for direct sales/network marketers. Jen is a one-woman problem solving dynamo for Mindful Mavericks across the globe.