“Start before they get here.”
You might want to know, when is the best time to start investing in your child’s future? And when I say invest I mean putting away money for them for when they reach a certain age. The money should be used for their college education, or when they become an adult and want to purchase their very first home. Or better yet, if they want to embark on their very own business, the money will do them wonders. Now you have to ask yourself a very important question. When is the best time to start investing money in your child? Is it before they are born, when they are young, or a little later in age like adolescence?
Think about the amount of money you have to put away. Don’t put yourself in the poor house trying to save for your child. Understand that you have to live while you save. So you might only be able to put away $20 here and $50 there for their future. But over the course of 18 years, 21 years, or maybe that first house at 25 years, the savings is possible. Just be aware of what you can and cannot afford. Don’t try to stretch yourself out too far when putting away money for them. Understand that life is a marathon applies to saving for them like building your success.
Bringing your child or children in the loop is a good way to aid in their building of finances for themselves. When I was in high school, I had a job in retail, but didn’t save any money because the pay was so low I could only really afford gas. But what happens when you’re growing up in a house where parents already are in the process of setting money aside. You can now afford to assist considering it’s your money being built. And you have a disposable income, so you can actual put in more than your parents.
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