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What to tell your kids

What to tell your kids. Financial Health Workshop - April 29, 2011. Why talk about it?. If you Google “money” – 2,130,000,000 references online 57% of divorces claim money issues as the reason why As of Feb, 2011 – current consumer credit in US - $2.42 trillion

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What to tell your kids

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  1. What to tell your kids Financial Health Workshop - April 29, 2011

  2. Why talk about it? • If you Google “money” – 2,130,000,000 references online • 57% of divorces claim money issues as the reason why • As of Feb, 2011 – current consumer credit in US - $2.42 trillion • U.S. Bankruptcy filings up 27.4% in 2010 over 2009 (includes both business and consumers) • 2,350 versus in the Bible on how to handle money and possessions.

  3. Topics to cover • Needs vs. Wants • Short term and long-term goals • Budgeting, cash, envelope, mint.com • Banks – free accounts • Credit Unions • Annual Credit Report • Savings

  4. Steps to smart money management • Establish an emergency fund - $1,000 • Pay off all debt using the debt snowball • 3 to 6 months of expenses in savings • Invest 15% of household income in retirement account • College fund for children • Pay off home early • Build wealth and give

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