8 minute read
Financial
How To Teach Your Kids About Money
By Anthony ONeal
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If you guys have been hearing the term “financial literacy” a lot, there’s a good reason—it’s one of the most important money-related topics! And that’s why April has been named Financial Literacy Month.
I’m a huge believer in financial literacy for everyone, but this stuff is especially important if you have kids who are in middle school, high school or college. Getting the right education about money is a game changer in their future success. Here’s what you need to know about financial literacy.
What’s financial literacy?
Being financially literate means understanding basic money concepts, like budgeting, saving, investing, and beyond. And it’s not just about knowing all the facts when it comes to money. Learning the right behavior is even more important than having the head knowledge.
Why is financial literacy so important?
When you’re financially literate, you know how to avoid the financial problems that way too many people face, like student loans and credit card debt. You know how to budget, understand investing and insurance, and have an emergency fund to cover life’s curveballs. And when students learn how to do all those things before, they have a chance to make mistakes with money, they can head into the realworld way ahead of the game. Nice.
How can I help my kids become financially literate?
As a parent, you’re a huge influence in your kids’ lives when it comes to money topics. These questions will help you figure out your own level of financial literacy so that you can better help your kids: • Do you have an emergency fund of at least $1,000? • Do you make and stick to a zero-based budget every month? • Are you debt-free (or getting there)? • Do you understand how compound interest works? • Do you know what types of insurance you need?
If you answered yes to most of those questions, your financial literacy is on point! But if you didn’t, don’t stress. Following the Ramsey Baby Steps is a great way to get your finances under control.
You can help with your kids’ financial literacy by showing them how to open a savings account and set money-saving goals. Even with younger kids, include them in your family’s financial conversations and help them divide any money they get into giving, saving and spending categories.
You can also encourage your kids to take a personal finance class if their school offers it. Our Ramsey research team found that students who take a personal finance class are 23% less likely to use loans to pay for college. And 87% of them feel confident about their ability to invest for the future.
Bottom line: Parents and teachers are the first line of defense when it comes to helping young people avoid major money mistakes. But the good news is, you don’t have to have a perfect track record to teach your kids about money. For more tips on helping your kids become financially literate, check out this article!>
Anthony ONeal
Anthony ONeal is a #1 national best-selling author, financial expert and host of the popular online series “The Table” on his YouTube channel. He has appeared on Good Morning America, The Tamron Hall Show, The Tom Joyner Show and Rachael Ray, among others. Since 2015, Anthony has served at Ramsey Solutions, where he teaches young adults how to budget, live without debt, avoid student loans, and build real wealth for their future. Follow Anthony on Twitter, Instagram, Facebook and YouTube or online at anthonyoneal.com.
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Four Steps To Setting Goals In The New Year
By Christy Wright
I love this time of year. The holidays are my absolute favorite, but not just because of the lights and food and family time. I also love that we have the opportunity to reflect on where we’ve been and decide where we want to go. And if we’re being honest, we all need a fresh start after the craziness of 2021.
Progress isn’t going to appear out of thin air, which is why I love teaching people the habit and skill of setting goals. Here are four steps that will help you make real lifechange in 2022:
Decide what you want
Before you make your workout plans or sign up for that conference, the most important thing for you to do is answer one simple question: What do you want in 2022? (Notice I said simple—not easy. In fact, this is one of the hardest questions we’ll ever answer.)
You have to decide what you want, because if you never define your finish line, you’ll never cross it. Or worse, you’ll chase someone else’s version of success. This isn’t about what your mom wants you to do or what those influencers on Instagram tell you to do. This is about you deciding what you want to do this year.
Set goals around what you want
Once you know what you want, you can set goals in the areas where you want to grow—whether that’s your marriage, kids, fitness, health, business, career, faith or community. Your goals should be specific, measurable and have a time limit for example, if you want to become a long-distance runner this year, you might set a goal to run a half marathon (specific and measurable) by the end of the year (December 31, 2022).
Create a plan
Once you’ve set your goals, break them down into weekly steps. As you do this, you’ll begin to create a path to get to where you want to be.
Let’s say you want a better marriage. A specific action you can take is to have date night every week or plan a weekend away every few months. If you want to take on more responsibility at work, ask someone in your field to mentor you or sign up for a class or conference that will help you sharpen your skills. Give yourself specific actions to take and deadlines to back them up!
Put it on the calendar
Now that you’ve set your goals and created your plan, you have to put it all on the calendar. You and I both know that if something isn’t on the calendar, it’s not going to happen. If you put your goals on paper, on purpose, as a priority, you’re much more likely to achieve them.
Remember, you’re looking at a fresh start and a clean slate. You can make 2022 anything you want it to be!> About Christy Wright Christy Wright is a #1 national best-selling author, personal development expert, and host of The Christy Wright Show. She’s been featured on Today Show and Fox News, and in Entrepreneur and Woman’s Day Magazines. Since 2009, Christy has served at Ramsey Solutions, where she teaches on personal development, business, and faith. Follow Christy on Twitter, Instagram, Facebook, and YouTube or online at christywright. com
FOOD FOR THOUGHT Earth's Saddest Failure
"A bruised reed he will not break"
(Matthew 12:20)
Christ is building His kingdom with earth's broken people. Men want only the strong, the successful, the victorious, and the whole in building their kingdoms. But God is the God of the unsuccessful, of those who have failed. Heaven is filled with earth's broken lives, and there is no bruised reed whom Christ cannot take and restore to glorious blessedness and beauty. He can take a life crushed by pain and sorrow and make it into a harp whose music shall be all praise. He can lift earth's saddest failure up to Heaven's glory! "Come to Me, all you who labor and are heavy laden, and I will give you rest." (Matthew 11:28)
J.R. Miller
