ALL >> Business >> View Article
Us Educational Financial Solutions Advisors: Money Talk With Your Children

Debt may be an adult thing, but new research says it could be healthy to talk to your kids about your family’s finances; or at least, just enough to keep them from drawing the wrong conclusions about finance-related situations.
A joint study by the North Carolina State University and the University of Texas stressed the benefits of discussing financial matters with kids and preteens. By keeping your kids informed, you help them develop a healthy attitude toward managing their finances, and be aware of sources of assistance such as the US Educational Financial Solutions advisors.
What financial topics are worth sharing with kids, anyway? Are they prepared to hear about how mortgage and other loans work? Will you teach them how to file their Form 1040? Of course, kids aren't ready to take on those topics; instead, focus on the following learnings:
The Importance of Saving
Kids today generally know how to drop spare change into their piggy banks. As they grow older, they'll start earning wads of bills instead of bags of coins; but the essence of saving for the future would, hopefully, have been ingrained ...
... in them. Teach your kids not to take debts lightly, as overconfidence can be very dangerous.
Sometimes, It's Good to Borrow
Savings, however, will only get them so far in trying times. Teach them to borrow responsibly, in particular, highlighting the need to pay back what has been borrowed. Let them know how a credit card works, for example, but stress that whatever is purchased using it has to be paid for with extra costs (interest).
Investment
Introducing your children to the concept of investment could also be wise. Many banks offer children's savings accounts to familiarize kids with the world of investment, that is, how money they put aside can potentially earn more. Bank rates aren't at par with stock exchange rates, but it's a start.
Financial Planning Assistance
Finally, tell them about US Educational Financial Solutions professionals and similar advisers who can help them out in case they get caught in a bind. Let them know that financial quandaries may happen despite one’s best efforts, but solutions are always on hand. To know more about discussing finance with kids, go to ScienceDaily.com.
Add Comment
Business Articles
1. Stem-xpert At Web Summit Qatar 2025, Pursuing Innovative Solutions In Stem-as-a-serviceAuthor: stem-xpert
2. Deepseek’s Rapid Rise: Disrupting The Ai Market Amid Controversy
Author: Iconic success
3. Reimagining Customer Services With Microsoft Dynamics 365 Implementation
Author: Maria
4. Upcoming Developments In Ss Flanges: Possible Effects On Different Industries
Author: Neelam Forge India
5. Mg Hector 5 Seater Price In Chennai: A Detailed Review
Author: balaji
6. Mg Hector Ev Price In Chennai: A Comprehensive Overview
Author: balaji
7. Spring Marketing Trends: How Print And Video Can Refresh Your Brand
Author: Devin Herz
8. Auto Transport Services In South Carolina
Author: Secure Car Shipping
9. Authentication Of Australian Certificates In Canada: A Complete Guide
Author: anzilanx
10. Low Maintenance Plants For Home Landscaping
Author: Apunga Landscapes
11. The Ultimate Guide To Rocking Chairs – Comfort, Style, And Elegance
Author: tushar
12. Bioethanol Market Size Insights Forecast 2024-2030
Author: Nilam Jadhav
13. Touffy Fabric Upholstered Rocking Chair – The Perfect Blend Of Comfort And Elegance
Author: tushar
14. Maximizing Efficiency: Why Small Businesses Should Outsource Bookkeeping And Financial Services
Author: KMK Ventures Pvt Ltd
15. Big Patient Data And The Future Of Real World Evidence: Learnings From Biotechx 2024
Author: Industry Chronicle