Money Tips for Four, Six and Ten Year Olds Fountain Hills AZ
As you follow the 10/10/10/70 concept, be consistent with depositing money monthly. Every month your child will start to see how their money starts working for them, your child will start to see the power of interest, compounding and the special gift that all children have, which is time.
Connie Brezik
Asset Strategies, Inc.
(480) 607-7445
8570 East Shea Blvd., Suite 140
Scottsdale, AZ
Connie Brezik
Asset Strategies, Inc.
(480) 607-7445
8570 East Shea Blvd., Suite 140
Scottsdale, AZ 85260
Expertises
Ongoing Investment Management, Estate & Generational Planning Issues, Advising Medical Professionals, Retirement Planning & Distribution Rules, Planning Concerns for Corporate Executives
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, PFS
Data Provided by:
Dana Anspach
Sensible Money, LLC
(888) MY-RETIRE
8550 E Shea Blvd Suite130
Scottsdale, AZ
Dana Anspach
Sensible Money, LLC
(888) MY-RETIRE
8550 E Shea Blvd Suite130
Scottsdale, AZ 85260
Expertises
Retirement Planning & Distribution Rules, Ongoing Investment Management, Investment Advice without Ongoing Management, Tax Planning, Hourly Financial Planning Services
Certifications
NAPFA Registered Financial Advisor, CFP®
Data Provided by:
Lawrence Friedrichs
Friedrichs Financial Alliance, LLC
(480) 962-4356
PO Box 21825
Mesa, AZ
Lawrence Friedrichs
Friedrichs Financial Alliance, LLC
(480) 962-4356
PO Box 21825
Mesa, AZ 85277
Expertises
Ongoing Investment Management, Newlyweds & Novice Investors, Planning Issues for Business Owners, Helping Clients Identify & Achieve Goals, Middle Income Client Needs, Tax Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA
Data Provided by:
David Rosenthal
Wealth Management Solutions
(480) 609-4334
8550 E Shea Blvd, Suite 130
Scottsdale, AZ
David Rosenthal
Wealth Management Solutions
(480) 609-4334
8550 E Shea Blvd, Suite 130
Scottsdale, AZ 85260
Expertises
Ongoing Investment Management, Planning Concerns for Corporate Executives, Estate & Generational Planning Issues, Retirement Plan Investment Advice, Tax Planning, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CFP®, MBA
Data Provided by:
David Fernandez
Wealth Engineering, LLC
480-296-2042
7337 E. Doubletree Ranch Rd., Suite 282
Scottsdale, AZ
David Fernandez
Wealth Engineering, LLC
480-296-2042
7337 E. Doubletree Ranch Rd., Suite 282
Scottsdale, AZ 85258
Expertises
Ongoing Investment Management, Cash Flow/Budgets/Credit Issues, Retirement Planning & Distribution Rules, High Net Worth Client Needs, College/Education Planning, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®
Data Provided by:
John Bagley
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ
John Bagley
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ 85260
Expertises
Ongoing Investment Management, Advising Medical Professionals, Retirement Planning & Distribution Rules, Cash Flow/Budgets/Credit Issues, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MBA
Data Provided by:
Lisa Woodside
Focused Wealth Strategies, Inc.
480-214-9719
9375 East Shea Blvd., Suite 100
Scottsdale, AZ
Lisa Woodside
Focused Wealth Strategies, Inc.
480-214-9719
9375 East Shea Blvd., Suite 100
Scottsdale, AZ 85260
Expertises
Ongoing Investment Management, Investment Advice without Ongoing Management, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Tax Planning, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, CPA, MST
Data Provided by:
James Schwartz
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ
James Schwartz
Strategic Wealth Advisors, LLC
(480) 998-1798
8426 E. Shea Blvd.
Scottsdale, AZ 85260
Expertises
Women's Financial Planning Issues, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Ongoing Investment Management, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®
Data Provided by:
Randy Oldenburg
Camden Financial Management, Inc.
(480) 998-7786
7337 E DOUBLETREE RANCH RD SUITE 282
Scottsdale, AZ
Randy Oldenburg
Camden Financial Management, Inc.
(480) 998-7786
7337 E DOUBLETREE RANCH RD SUITE 282
Scottsdale, AZ 85258
Expertises
Ongoing Investment Management, High Net Worth Client Needs, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, Charitable Giving - Trusts & Foundations, College/Education Planning
Certifications
NAPFA Registered Financial Advisor, BA, BS, CFP®
Data Provided by:
Neal Van Zutphen
Delta Ventures Financial Counsel, Inc.
(480) 924-5613
2855 E. Brown Road, Suite 5
Mesa, AZ
Neal Van Zutphen
Delta Ventures Financial Counsel, Inc.
(480) 924-5613
2855 E. Brown Road, Suite 5
Mesa, AZ 85213
Expertises
High Net Worth Client Needs, Advising Medical Professionals, Financial Psychology/Coaching, Planning Issues for Business Owners, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®, MS
Data Provided by:
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Money, Taxes & Small Business
Money Tips for Four, Six and Ten Year Olds
By Lori Mackey
Email
Mar 29, 2007, 23:09
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Your adult habits form in childhood, if a child starts the habit of taking a dollar and spending a dollar, that child is learning the habit of living paycheck to paycheck. But, if a child creates the habit of dividing their money before they spend, this will be as natural as walking and talking.
If a four year old takes a dollar and saves 10 cents for giving, saves 10 cents for investing, saves 10 cents for savings and takes the 70 cents and spends it wisely and practices this habit with every dollar, they automatically will have a head start with their financial future.
At the age of six, start implementing the allowance system, give each child chores and responsibilities that are expected everyday, some activities they will earn money for and some are expected because they are part of the family. You can use chores to break bad habits, teach independence, and the concept of earning.
Make a habit of allowing your child to bring their earned income to the market, store or mall, if they find something they want and ask you to buy it for them, just say, Yes, you can have that, but you need to use your own money. The typical response will be, But I do not want to waste my money! And, you respond with, Well, I don t want to waste mine either.
10 year olds are motivated by money, if you start teaching kids the power of investing and saving their money, they will listen intently. Go online and show your child investment calculators. Show them what the $50.00 video game would be worth in 55 years if they invested the $50.00 instead of spending it. The key is to show kids the power of invested money. Once kids see how money works, they will think twice before spending their money.
As you follow the 10/10/10/70 concept, be consistent with depositing money monthly. Every month your child will start to see how their money starts working for them, your child will start to see the power of interest, compounding and the special gift that all children have, which is time!
No matter how old your child is, it is never too late to start teaching them the value of money and how it can work in their favor.
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Lori Mackey, an award-winning author, founder of Prosperity4Kids, Inc., is recognized as a leading expert ...
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