How to Teach Children About Money in 7 Easy Steps

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  Money can be a touchy subject for kids and parents alike, but it's also a topic that needs to be discussed. We want our children to understand the value of money and how it works, but it can be tricky to discuss these concepts without sounding preachy. As a parent myself, I've found that making learning about money fun is one way to get my child interested in the topic without worrying about them feeling like we're pushing an agenda or being lectured at. Here are some fun ways that you can teach your child about money : Let kids invent their own games or create their own money. Let kids invent their own games or create their own money. This works especially well with older children who already have a grasp on financial concepts like spending, saving, budgeting and investing. Let them create their own games using whatever they want as currency — anything from marbles to candy to paper clips could work! If they want to make up actual rules for using this new currency (f

Wise Family Investments: Setting Up A Trust Fund

During these tough economic times, investing in your child’s future is one of the wisest structured family investments that you can make. Despite the squeeze on household finances, more and more families nowadays find that it’s vital and practical for every child to have the best possible start in life through investing in a financial support scheme. A trust fund can be comprised of properties, cash, bonds or stocks intended to provide financial security and benefits to an individual.




The amount of money invested in a child trust fund is a long-term savings that encourage parents to save for their child’s future. The recipient can withdraw the money only until a specified event occurs or when he reaches 18 years of age that he can already be eligible to receive a yearly income from the fund.


Trust fund is about giving beneficiary money that your child needs but not providing them full control over the investment.  You need to delegate a trustee who will be in charge of the money for your child until such time that the fund matures and that is when the beneficiary is of the right age to receive the financial support to help him achieve his goals.



There are different trust agreements that you can use for different situations. So, before you set up a trust account, consult your legal counsel and ensure that you have the agreement in writing to protect you and your beneficiary. Trust funds can be formed while you are still alive or upon your death. It is also wise to note to include in your agreement the ability to revoke it in case there are changes in the circumstances. If you are to choose a trustee, be sure that you can trust that institution or person with your life and your finances. 


Image credits to: Stuart Miles - freedigitalphotos.net

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