It will teach them how to:
- Save and build the saving habit.
- Acquire the skill of living within their means.
- Build wealth - getting their money working for them.
- Become self-confident in handling money.
- Invest in their future.
How to get them started
Help set them up: At the bank have them set up two savings accounts, one that holds their regular saving and a second one to hold their "Pay Myself First" money.
Help them build the habit: Give them an incentive to get started and keep going! For young ones, give a reward. For teens and young adults match the amount they put in their “Pay Myself First Account” for the first six months. For young adults give them a lump sum to start off a Tax Free Savings Account (TFSA).
“A year from now you may wish you had started today” Karen Lamb
Want to learn more? Visit www.fourquartersfinance.com