Money Tips for Four, Six and Ten Year Olds Phoenix 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.
Robert Burger
Perspective Financial Services, LLC
(602) 635-1313 or 235-0336
1440 E. Missouri Avenue, Suite 250
Phoenix, AZ
Robert Burger
Perspective Financial Services, LLC
(602) 635-1313 or 235-0336
1440 E. Missouri Avenue, Suite 250
Phoenix, AZ 85014
Expertises
Helping Clients Identify & Achieve Goals, Retirement Plan Investment Advice, Hourly Financial Planning Services, Ongoing Investment Management, Middle Income Client Needs, Divorce Planning
Certifications
NAPFA Registered Financial Advisor, CDFA, CFP®
Data Provided by:
Robert Keats
Keats, Connelly and Associates, LLC
(602) 955-5007 Ext: 210
3336 North 32nd Street, Suite 100
Phoenix, AZ
Robert Keats
Keats, Connelly and Associates, LLC
(602) 955-5007 Ext: 210
3336 North 32nd Street, Suite 100
Phoenix, AZ 85018
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules, Financial Issues Between Generations, Estate & Generational Planning Issues, Helping Clients Identify & Achieve Goals, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, MSFS
Data Provided by:
Philip Stoker
Stoker Ostler Wealth Advisors
(480) 890-8088
4900 N. Scottsdale Road, Suite 2600
Scottsdale, AZ
Philip Stoker
Stoker Ostler Wealth Advisors
(480) 890-8088
4900 N. Scottsdale Road, Suite 2600
Scottsdale, AZ 85251
Expertises
Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, 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:
Matthew Murphy
Murphy Capital Advisors, LLC
(623) 872-3333
6751 N. Sunset Blvd.
Glendale, AZ
Matthew Murphy
Murphy Capital Advisors, LLC
(623) 872-3333
6751 N. Sunset Blvd.
Glendale, AZ 85305
Expertises
Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®
Data Provided by:
Michael Larriva
Perspective Financial Services, LLC
(602) 635-1313 or 235-0336
1440 E. Missouri Avenue, Suite 250
Phoenix, AZ
Michael Larriva
Perspective Financial Services, LLC
(602) 635-1313 or 235-0336
1440 E. Missouri Avenue, Suite 250
Phoenix, AZ 85014
Expertises
Retirement Planning & Distribution Rules, Helping Clients Identify & Achieve Goals, Planning Concerns for Corporate Executives, Advising Medical Professionals, Planning Issues for Business Owners, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, BS, CFP®
Data Provided by:
Dale Walters
Keats, Connelly and Associates, LLC
(602) 955-5007 Ext: 210
3336 North 32nd Street, Suite 100
Phoenix, AZ
Dale Walters
Keats, Connelly and Associates, LLC
(602) 955-5007 Ext: 210
3336 North 32nd Street, Suite 100
Phoenix, AZ 85018
Expertises
High Net Worth Client Needs, Estate & Generational Planning Issues, College/Education Planning, Tax Planning
Certifications
NAPFA Registered Financial Advisor, BS, CFP®, CPA/PFS
Data Provided by:
John Stephens
TCI Wealth Advisors, Inc.
(480) 991-0401
7550 E. McDonald Drive, Suite D
Scottsdale, AZ
John Stephens
TCI Wealth Advisors, Inc.
(480) 991-0401
7550 E. McDonald Drive, Suite D
Scottsdale, AZ 85250
Expertises
Advising Medical Professionals, Planning Issues for Business Owners, Planning Concerns for Corporate Executives, High Net Worth Client Needs, Ongoing Investment Management, Advising Entrepreneurs
Certifications
NAPFA Registered Financial Advisor, CFA, CFP®, MBA, MD
Data Provided by:
Vincent Rossi
Intelligent Capitalworks
(480) 951-2900
Promenade Corporate Center
Scottsdale, AZ
Vincent Rossi
Intelligent Capitalworks
(480) 951-2900
Promenade Corporate Center
Scottsdale, AZ 85254
Expertises
Ongoing Investment Management, Retirement Plan Investment Advice, Tax Planning, Estate & Generational Planning Issues, Charitable Giving - Trusts & Foundations
Certifications
NAPFA Registered Financial Advisor, CFP®, MSFS
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:
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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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