Most adults think of financial literacy in terms of how well they’ve planned for retirement or our performance in the stock market. The reality is, financial literacy begins much earlier than that. As a matter of fact, we believe it begins as young as three years old.
Over the past several years we’ve been conducting a grand experiment with our kids. When they were just 7 & 8 years old we put them on a full budget. They became responsible for buying their own clothing, school lunch, and luxury items among other things. This went so well that people began to ask us how we did it. So we wrote it all down. Investing in Your 401k Kid: From Zero to Little Financial Genius is the result.
Let us be clear. We are not financial professionals or investment gurus. We are parents who realize that if our kids are going to learn how to manage money effectively, we have to be the ones to teach them. Over the past five years we’ve taught our kids how to be financially literate. Some amazing things have happened during this time, and we have learned a lot. Most importantly, so have our kids. We think these lessons are important to share with the rest of the world because someone needs to give parents a helping hand when it comes to educating their kids about personal finance.
Maybe you’re afraid to talk to your kids about money because you’ve mucked up your own financial world. Maybe you were brought up not to discuss money. Maybe it all sounds like too much work. We’re here to help. Because if you don’t get over whatever is holding you back, your children will make the same mistakes you did.
The purpose of our book and this associated website is to:
- Make the idea of teaching your kids to be financially literate less intimidating
- Provide you with the tools necessary to start your kids on the right track for managing their own money
- Offer support (and occasionally comic relief) as we journey down this road together
- Ensure that the kids of today are more financially savvy than we were when we left our parents’ home
As of right now, our kids stand to be the first generation in 80 years that has a real chance to have a lower standard of living than their parents. We can change that.
Want to follow our progress via blog? Let’s start right now.