She suggested that you urge clients to start incorporating financial education into family conversations when their children are young. It doesn’t need to be a budget summit, but parents can be transparent about how they’re managing if someone loses a job, needs a more stringent budget, or they can’t afford vacation options. Weighing the cost.
If kids get money as a gift, parents can also talk to them about buying something bigger later to save a percentage.
“I did that to my kids,” she said. “If they got $100, I’d say, ‘Why don’t you put 10% away?’ That’s $10. And it always came back that they wanted to save more of it. They’d say, ‘No, I want to save $80 out of that.’ And, I’m like, OK!'”
D’Cruz encourages parents to watch films such as The Big Short and The Wolf of Wall Street with their children, as they can inspire discussion about finance, so parents understand the various concepts. can.
She said she even started talking about investing when her kids were teenagers. She also commented on what the stock market is, why people invest in it, and how it reacted when watching BNN, even when her daughter was not interested. Now his 21-year-old daughter is initiating those conversations.
