9 Year Mortgage on the Importance of Speaking About the Market to Children
No one is oblivious to the fact that the stock market is commanding the attention of every headline, news station, and adults small talk. 9 Year Mortgage believes it would be insensible to think that your child hasn’t noticed all the chatter about the markets, which is why it is so important not to ignore their questions or interest in the topic. 9 Year Mortgage is aware that explaining the markets is a hard feat to accomplish, considering many adults do not fully understand it themselves, but even the simplest attempts to explain it in elementary terms may help your children become better investors and savers in their adulthood.
Why and How You Should Explain the Market to Children with the Help From 9 Year Mortgage
Did you know that 42% of adults have said they obtained most of their financial knowledge from their parents? So if nearly half of the population learns how to handle money from their parents, then why is the talk of money to children so hush-hush? The fact is that if your child, you, or anyone has experience with something, then the ups and downs don’t scare them as much. 9 Year Mortgage believes that by teaching your children about money when they are young, they will grow up to be more financially sound. Many parents feel unprepared to speak to their children about finances, but why? 9 Year Mortgage has come to the conclusion that many parents believe they are not great financial role models or that they believe telling their kids about hard financial times they have experienced will create unnecessary anxiety amongst their children; regardless of parent’s fears about talking money with kids, they mustn’t assume they are unaware.
Have you ever experienced your three year old repeating something you’ve said to your spouse or friend that wasn’t meant for their ears? Well that phase of picking up on things does not end in their toddler years, it continues throughout adulthood–the only difference is they don’t repeat it to you as often. Your kids are still likely to overhear bits and pieces of news from the television, radio, classmates, you or other sources; and because no one explains it to them they end up drawing their own conclusions. 9 Year Mortgage stresses that it is important to teach your children about the basics of finances in order to save them from drawing bad conclusions. If you don’t, your child may become one of the 75% of teens who believe the stock market is “rigged” or who will withdraw their money from stocks during a bad market and put it into bonds (losing a lot of their investment by selling when the stocks are so low).
Talking to your children about the stock market in particular doesn’t have to be a hard task. If you have elementary aged children you can start with the basics, like how there are good and bad times. Explain it is a circular cycle and that right now we are in the bad part. Start having your children save part of their allowance or money they make; Once they are old enough you can encourage them to put some of their savings into a couple different stocks–this way they will see how they can lose money or make it depending on the day. 9 Year Mortgage suggests that you always stress the importance of having a plan for your money and that we can not control the economy. Be careful not to get too detailed, your children shouldn’t worry about the economy at too young of an age. When your children are older you can even turn a down market into an object lesson. Explain that when the stocks are low or drop, that it is the best time to invest because it gives them the best chance of a bigger return.
9 Year Mortgage Sums It Up
If you want to protect your children from falling into financial traps, it is best to teach them young. Topics such as saving, credit, balancing a check book, and investing are all important for them to understand if they want to live a financially responsible life. For more help on talking to your kids about money, 9 Year Mortgage suggests you read Teaching Your Kids to Manage Their Money. We know discussing money can be uncomfortable at first, but try having the family participate in dinner-table conversations about the economy or allow a child to choose a stock to invest in each year. By making money-talk part of your regular routine with your children, they will grow up with a better understanding of it, and it may just change their (financial) lives for the better.
Will 9 Year Mortgage Work For Me?
Not everyone qualifies or will benefit from the 9 Year Mortgage program so there is no easy answer to that question. We are very careful with who we let into the program, so each client must go through a qualification process to make sure we can provide you a viable financial plan that will work before we let you into the program. Our representatives are trained to ask the right questions and gather the information necessary to quickly find out if we can help you. If you would like to go through this process you can Click Here to begin filling out some basic information so that a 9 Year Mortgage representative can start working on your financial plan right away. Don’t forget to “Like” 9 Year Mortgage on Facebook to receive your Free Analysis.