We all love having our kids around and they’re so cute and innocent but it’s very much worth thinking about preparing them for an adult, professional life. You can help to prepare your children for that professional life, even from a surprisingly young age there are so many ways to help them be ready for having a successful professional career, here’s a few ways how.
Put Money Away For Their College Fund
This is one that we’re all very familiar with but it’s essential to get started early and make sure you are doing it in the correct way to maximise the benefit. It’s important to look at what plans you’re looking at, what type of college expenditure you will be providing and set your plan accordingly so that you can accurately budget for the savings needed. You can always look at getting a bespoke or tailored savings vehicle designed for college savings and this will have the added advantage of being designed for this need and the staff at the investment firm will be able to provide informed advice on the best way to go.
Help Them With Their School Work When Young
Good study practice is essential and helping put in place a good method of working and being thorough with their writing and research will give them the tools to enter into higher education or go far in their chosen career. For example, teaching children how to evaluate and solve problems can be invaluable to their education and later success as it allows them to learn critical thinking and be able to tackle problems on their own without too much assistance.
Teach Them About Financial Good Practice
Teaching children to manage money effectively is essential to success in later life, it not only gives them the ability to effectively manage the finances in their personal life they will also be accumulating skills that will be invaluable to any future employers. It’s advisable to encourage them to think about financial planning not only for when things are going well but also to plan for difficult times and rainy day planning, for example I always point out to the kids that I have life insurance or the cost of long term disability insurance for example so that they can see me setting a good example of how to be prepared for the long term.
Encourage A Good Work Ethic From A Young Age
We all need to learn how to have a good work ethic as it’s not an automatic by any means. This means teaching children from a young age how to pull their own weight and be a valuable asset to the household and they can then take this attitude into college and the workplace. Start with having them earn their pocket money and then progress to them having a part time job after school hours or at weekends to give them the lesson of valuing their money as it’s hard earned.
What do you think?