Debt free children - Getting them started EARLY

I don't know about you, but I'm determined to help my kids avoid the same mistakes that drove me into indebtedness. They are young. They have a fresh start and their whole lives ahead of them. If I do nothing, they'll probably end up just like me and millions of other Americans: in debt and going nowhere financially.

But if I start now, can I instill in them the principles they need to not just stay debt-free but also to become wealthy some day? You bet! Here's a great article that discusses this very topic. It's a checklist for success that provides some terrific ideas AND principles for guiding your child to financial success.

"Teach your child about budgeting early on, by finding ways for them to earn and manage money. If you provide your child with an allowance, help them to develop a budget that includes making short and long-term goals that include a savings plan, no matter how small."

I don't agree with everything in this article, but who cares. It's a goldmine of ideas and well worth the read: a must if you want your kids to not make the same financial bluders that you did.

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