All tagged Money Education
It was inevitable that one day I would write a blog post about Dave Ramsey, but it has taken me over three years to get around to it. This month I finally read his book The Total Money Makeover. He created a simple plan which he called The 7 Baby Steps to help others change the behaviours that were keeping them poor and to help them get out of debt and stay out of debt, forever.
I’ve been interviewing people for my podcast and every time I do this I learn something new from each and every person I speak with. But a recent conversation really had me thinking because it presented a completely new and different view on how I could help my daughter (or you could help your child) through her tertiary study once she finishes school.
Those of you who have read my blog for a long time have been on a journey with me as I teach my daughter, now 11 years old, about how money works. Like every parent, I’m just making it up as I go along and I’m slowly working on her education around how money and life interact. So far, I’m pleased with how things are going and the time has come for her very first bank account.
If you have had an ‘ah ha’ moment, or maybe an ‘oh crap’ moment, then this blog post is definitely for you! This is for all of the people who have contacted me over the last month who have just had their own “moment” with money but are struggling with where to go from here. I’m going to help you find YOUR starting point so read on...
Every week I receive one or two emails specifically asking about how to help children invest and there are often comments on various social media about whether you even should help your kids and if you do, whether you should tell them about it. Over the years we’ve evolved an investment methodology for our daughter that appears to be working so I thought I would share with you what we do in our own whare and that might give you some tips for what you can do in your own household.
A while back I asked you to send me in any questions that you are looking for an answer to and I received well over 100 responses. So, I’ve hand-picked just four to answer today and I'll come back to the others in the future. On with the questions!
Every single day I receive emails from YOU about anything and everything that is playing on your mind in regards to money and I absolutely love responding to them. This week I thought that I would just give you a snippet of the queries I get because to me they are one of the main reasons I blog, to interact with other people who are thinking about PF.
When I realised that in order to become an investor I didn’t have to learn how to pick stocks it was like the clouds had parted and the sun had finally come out. And I have American John C. Bogle to thank for that. Last week he passed away at the age of 89 but he leaves a huge legacy behind and I know that in years to come many will still be learning from him, just like I did.
Once WE as adults become better with money then it’s natural that we want to enlighten our kids, grandkids, nieces and nephews so this book is a must read in my view because it guides you through the steps of how to do it WITHOUT annoying the hell out of the child.