Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

The 2 Best Holiday Gifts You Can Give Your Kids!

by December 16, 2023
December 16, 2023
The 2 Best Holiday Gifts You Can Give Your Kids!

Let’s begin with the bottom line.

As parents, our reason for being here on planet Earth is to pass on to our children the life skills they’ll need to succeed. Everyone talks about leaving a better planet for our children; why don’t we try to leave better children for our planet? I submit to you that two of the most important gifts you can offer them are:

Giving them the gift of your time — one-on-one.Helping them cultivate a financial mindset and money-wise toolkit to ensure their long-term success.

As children, money management may not seem to be an interesting subject for them, unless you make it so. Someday — sooner or later — these financial skills will become a necessity in their lives. Success means a plethora of different things to different people, but 99% of those definitions must be built on a solid financial foundation. Money literacy leads to future financial freedom, which in turn leads to success in life. What follows are a few thoughts, suggestions, and routines that I encourage you to embrace this Holiday Season — indeed all year-round.

It’s stating the obvious, but parents are critical role models. It’s realistic to assume that children will mimic their parents’ money habits. Act accordingly.Make conversations about money and finances a part of regular routines with your family — be it on a daily, weekly, or monthly basis.Openly discuss your own money mistakes — past or present. There’s a bonding effect that results from those kinds of upfront discussions, not to mention the learning that goes on. Be honest about the consequences of that cryptocurrency trade that didn’t go so well!Fact: children are fast learners — much more so than adults. The time you spend with them has immense leverage.Keep it simple. You don’t have to jump into explaining Index Funds, ETFs or equities. Start with the basic financial issues such as discussing saving their allowance, explaining credit cards, interest rates and the dangers of debt. My favorite: give them some examples that illustrate the magic of compounding. Then, just for fun, toss in a chat about taxes and our beloved IRS.Actions speak louder than words. Help your children open a bank account, or brokerage account depending on their age. Give them a sense of ownership when their monthly account statement arrives in the mail.Teach them to listen to money matters, financial topics, and investing ideas. Simple awareness of such topics will have a lasting and positive effect.Discuss and explore their saving and spending habits. Talk about how these relate to their “wants” versus their “needs.” Be creative. Make it fun. Be sensitive that it’s different for every person. Most importantly, don’t make it a chore or let it become a stressful issue.Finally, you can do what I did — write an investment book with your kid! It’s a stupendous learning experience. I’m being facetious, of course, but books, videos and websites such as StockCharts.com provide an astounding array of interesting topics to share and discuss.

So, I return to the bottom line. Regular one-on-one conversations with your children about money and investing will empower them with essential financial skills and tools and thereby have a positive effect on their future lives.

In closing, I have to say this: don’t expect your children’s teachers or professors to take on this responsibility. It’s all up to you, Mom and Dad!

Trade well; trade with discipline!

— Gatis Roze

BONUS: A gift to you this Holiday Season. Being immersed in Black Friday and Cyber Monday sales, I thought it only reasonable to extend to you my own December Deals.

Our Blu-Ray had been steeply discounted for those of you who might prefer to watch DVDs versus reading our book — The 10 Essential Stages of Stock Market Mastery.

The Asset Allocation DVD that Grayson and I produced is also steeply discounted. This is another great stocking stuffer for parents endeavoring to boost the financial IQ of the younger generation.

Wishing you great investing success in 2024!

0
FacebookTwitterGoogle +Pinterest
previous post
Don’t Miss the Move Into These NEW Areas!
next post
Federal Reserve again keeps interest rates steady as inflation cools

Related Posts

A Nasdaq 100 Stock Showing Relative Strength in...

August 19, 2023

The Halftime Show: Defense and Value on the...

July 25, 2023

You Need To Realize ONE Important Fact With...

March 9, 2024

SNAP’s Stock Price Snaps Out Above Bollinger Band...

December 1, 2023

Remember Those 3 Signs of Inflation to Watch?

January 24, 2024

Bitcoin Halving Could Bring Massive Upside!

April 17, 2024

Decoding Bear Markets, Divergences, & More! A Q&A...

November 11, 2023

MEM TV: An Exciting New Area Joins the...

June 17, 2023

Why the NAAIM Exposure Index Matters to Your...

February 8, 2024

Keeping Up With The Jones – How Weakness...

April 13, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • 1911 Gold Temporarily Suspends Operations at True North Complex due to Bissett Evacuation Order

    • Ontario Backs Down on Key Bill 5 Provisions, Echoes BC’s Mining Debate

    • Appeals Court Grants Trump Temporary Reprieve on Tariffs, “TACO” Taunts Gain Steam

    Categories

    • Business (1,223)
    • Investing (2,503)
    • Politics (3,699)
    • Stocks (1,614)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved