As parents, you serve as a guide for your child. While many adults are prepared to help kids understand life’s challenges, there is one subject we’re often reluctant to discuss – money management. Most of us have had little formal instruction in personal finance, so it’s natural that many parents are uneasy talking about it. The last time there was any financial literacy curriculum in most school systems was during World War II, when the government was promoting war bonds. Yet despite decades of neglect, money management is one of the more important topics we should be helping our children comprehend. To that end, I’d like to introduce you to an innovative program from Family Mint that will help your child grasp the concepts of financial responsibility in no time.
I grew up in a household where the only lesson my grandparents taught me about money was where to hide it – in couches, drapery, and under rugs. They had grown up during the Great Depression and had a deep mistrust of the banks. As a result, I had to learn financial lessons on my own. Let me say that my lessons were expensive, but on the upside they’re what led me to a career in helping people make sound financial decisions. I’m always on the look out for interesting ways to help people address their concerns, and was excited to learn about Family Mint’s Money Management Certification Program for children. Family Mint’s program brings the teaching of money management into the 21st century with a step-by-step, interactive platform that combines the best of real-world and virtual experiences with a 60-page workbook and an online application that will leave your kids excited to learn more.
The program isn’t superficial. It takes two months two months to complete, and it concludes with a Certificate of Accomplishment. Throughout the training, your kids will engage in interactive activities that are designed to build a sound financial foundation. The goal of the program is to help your kids develop health financial habits which will enable them to think differently and plan effectively for their future. The team at Family Mint worked with educators, financial experts, and child focus groups to capture the essence of responsible financial management. Throughout the course kids are introduced to concepts such as creating goals, tracking spending, banking, and the power of compound interest. All along, the curriculum will help them develop positive habits and associations with money that will last a lifetime.
What I truly enjoy about the program is that even if you’re not financially savvy, you can learn while your child goes through the lessons. It’s never too late to pick up some new financial tricks. For instance, did you know that 97% of Americans don’t set goals? Goals are self-fulfilling, create energy, and can lead to extraordinary lives, yet only 3% of us take the time to think about them and write them down. Creating SMART goals is just one of the great new habits your child will learn through this program, and that you should incorporate into your own financial plan.
We already know what the lack of a solid financial education can lead to. Millions of young adults fail to develop basic money management skills. As a result, they make poor financial choices that leave them burdened with debt for decades. Instead of entering their adult lives with a focus on economic success, our kids are saddled with student loans and credit card debt. Not only is this situation debilitating, it causes them to delay any number of life events while they deal with the crushing weight of those obligations. Even now we’re seeing young adults putting off homeownership, entrepreneurial endeavors, and marriage. One of the best ways to better prepare our kids for independence is to make an investment in their future, and Family Mint’s Money Management Certification Program is an investment that will pay dividends.
In an effort to help prepare your kids for success, the folks at Family Mint have extended a generous offer of a 20% discount for anyone reading our blog. If you’re interested in purchasing Family Mint’s Money Management Certification Program, please visit www.familymint.com/cambridge-credit.
Until next time, I’m Thom Fox for Cambridge Credit Counseling.