Imagine a world where you started putting 15% of every paycheck away into savings…from age 15. Some simple math here. If you stocked away $400 a year and let the interest ride, by age 55 you’d have a little over $85,000.Children today should start learning about saving early. In fact, the moment they begin to accumulate any income, they should be putting money away for their future.
Patricia Seaman is the spokesperson for the National Endowment for Financial Education and she shares some insight with It Takes Two about teaching your kids about saving, saving habits and the benefits they will enjoy later in life.
Before you find an excuse, Ms. Seaman also mentions that YOUR financial state shouldn’t influence teaching your kids good habits. You might be working until your late 80s, you can set your children up to be in better banking shape than yourself!
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(Amy Iler & JJ Gordon are talk-show hosts at 790 AM KFGO in Fargo-Moorhead. “It Takes 2 with Amy & JJ” can be heard weekdays 11am-2pm. Check out the show page on
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Follow Amy on Twitter
@AmyKFGO
. Follow JJ on Twitter
@JJGodon701
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