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Self Reliance Themes | Teaching Children Responsibility About Finance and Investing

Posted by Jim on Aug 20th, 2012 · 0 Comment

Responsibility About Finance and Investing, finance, investing, self reliance

In our eagerness to spread the blame for our country’s economic slowdown, perhaps we have looked past a vital link in the chain of sound practice when it comes to money: the home. Rather than find scapegoats for the unemployment rate, the slowness of job creation and the paralyzed housing market, maybe the best response we could have is to teach your children, self reliance themes, by teaching them...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Self Reliance Themes | Teaching Children Responsibility About Finance and Investing

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