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Bringing Good from a Painful Past
Tanya Van Court lost millions in the stock market at the turn of this latest century. Remember when the Dot Com bubble burst in 2000?
There’s nothing like losing a million dollars to make you take stock (pun intended) of your finances. Since then, she’s she’s worked hard to improve her financial literacy and rebuild. Even though she was intelligent, driven, and successful in her 20s; she was ashamed to ask for money help.
Asking for help — in her mind — meant admitting that she didn’t have it all together.
If anything good can come from losing that much money, it’s Tanya’s story. Fast forward a few decades and her 9-year-old daughter was asking for help funding an investment account.
Nine-year-old people don’t do that … unless they’re money smart kids.
“The market fooled me once, but I wasn’t going to let that happen to my child. I was not going to have her be intimidated by financial language,” Tanya shared.
Tanya shares her tips today on the Midday Money Show about just how she developed her own financial know how and is passing that on to her children. So whether you’re 9 or 39, breaking down the concepts of investing and making your money work for you is always a good place to begin.
How Tech Creates Money Smart Kids
Do you have children, nieces, nephews, play cousins, or other young impressionable minds who can use a little guidance in the way of fiscal responsibility?
Sure you do.
Children are growing up taking in lessons about money — one way or another.
Those lessons aren’t always productive. Why not be intentional about helping these youngsters master their financial concepts in a language they understand.
There’s an app for that.
GoalSetter.co is a savings and gifting platform that takes the idea of dollars a step further. Instead of focusing on material gain solely, children are exposed to ideas that help them contribute to their community. Parents can also redirect a stash of clutter from unused toys into a savings account and encourage civic involvement as a way of life.
Raising Money Smart Children
If you’ve struggled at all financially, you can appreciate how financial wisdom learned early on can help your children avoid the same mistakes.
If you still struggle, Tanya has great tips for dealing with the money topic in a way that will make sense to you and your child. The holidays are approaching. This would be a great time to get your kids set up and help them identify their goals and start making changes to the way we approach gift giving.
How much do you generally spend on gifts for your children? Leave a comment on the new Midday Money Show voicemail. Call: (773) 893-0241
We talked about…
- Losing a million dollars in the stock market and how poor financial knowledge can burden anyone.
- Why a 9-year-old child asked for an investment account.
- How parents can rethink the traditional view on gift giving and encourage long-term goal setting.
- How to have money conversations with your children.
- How parents can transition children away from a consumer to an investor frame of mind.
“I felt really insecure about not knowing all of this information about personal finance.” ~Tanya Van Court
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