Sunday, April 24, 2016

Being smart with $$ - Kids need financial discipline

46% of parents go into debt buying something their kids want (according to Reuters/ChrisTaylor/04.18.16).  Is this really best for you OR your kids?  Children who get everything they want may become adults who can't make good choices with their money.  These kids may discover late in life that they are buried in debt and have no money for retirement or their own kids' education.  Start saying "no" now.  Give them an allowance and make them choose how to spend money.  If they need more, they can get a job and learn to earn what they want.  That's a lesson best learned early.
- Larry Pike, CFA, Client Priority Financial Advisors LLC
- www.clientpriority.com

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