Parents often ask for ideas to help their kids
Financial Planner Luke Smith joined 2CC Talking Canberra 1206AM in The Money Show which aired on Friday 12 November 2021. Luke joins Leon in the studio. This week’s topic: What financially should my kids be doing? Teaching young kids about money is fairly easy, a piggy bank is a great place to start, but what should you tell them when they get into the teenage years and adulthood?
Key issues covered include:
- This podcast offers some practical ideas and tools to talk about with your own kids
- We must start by recognising today’s generation has a different experience with money than we did. We didn’t have after pay and we didn’t have facebook and Instagram peer pressure.
- Spend less than you earn to save
- Have realistic conversations about the value of time and compounding
- Embrace technology to communicate with them – they love apps, find a savings or budgeting app
- You save and I will match it, and loans not gifts and good values
- Is your child a lion or a gazelle?
- Sometimes things go wrong, and that’s ok – resilience is a good attribute to have
- Investing and risk lessons
- Luke offers his top tips and ideas for parents of teenagers and young adults.
Everyone has different goals and financial planning advice can help you achieve them more effectively, especially when you link different strategies.
Listen to the Podcast right now
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you have your own financial questions you’d like answered?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals.
Make an appointment to confidentially explore what you’d like to achieve with your own personal financial plan or retirement plan. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.