Business and Investing

With older children must seek more creative methods to get their attention. In our case, when our teens we wanted to hear, apart from praying for them, we tried to adapt what they wanted to show their reality.

For example, if your children want to buy something, recharge their phones, or rent a movie and ask him for money, they can set limits (only paid a movie a month, or given “X” money by charging their cell phones) . Then they can be encouraged to find other ways of earning money is lacking. Your older children need to realize that they can earn money to pay for their expenses.

Once you have understood this, you can go to the next stage: to invest their earnings to create passive income sources. Parents can teach investing in mutual funds instead of simply opening a savings account with a very small interest rate.

They will listen if you have sweated the fat drop by winning their own bucks!

For example, our son started studying the stock market as well. He earned money by cutting grass and explained that if he knew how to invest your money, would be able to generate the same money of 10 cuts of grass in a day investing in stocks. That made sense and today is diligently studying the stock market.

Another thing parents can do is get to a level of “one on one” with their children and share the financial mistakes they have committed. It is also important to know what are the good choices they have made and what it has meant to their family life.

In the adolescent stage of children, is often best to ignore the role of parent controller and take a more humble before them, proving that one is as human as anyone else.

It is the right time to talk about the mistakes he made in the past, apologize if necessary and tell them you love them and want to not suffer the consequences of not having a solid financial education.

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