Long story short, I want to teach my kids money stuff while they still listen to me (before 14yo perhaps?)
Now I want to ask for the group help to contribute a curriculum and any materials (blogs / books etc)
I am planning like 15mins talk over dinner , might be once a week, for 3 years
Any good starting point?
Topics I could think of
1. Money habits
1.1 Learning about needs and wants
1.2 budgets. spendings. earnings/income
2. Investment
2.1 Time value of money
2.2 Why early saving matters - Compounded return
2.3 Setting investment goals
2.3.1 Short term - things you need
2.3.2 long term
2.3.2.1 Tuition
2.3.2.2 Car
2.3.2.3 Mortgage
2.3.2.4 Retirement
2.4 Investment Choice
A. ETFs vs mutual fund
B. Single stock investing
C. bitcoins and other exotic investment
3. Complex world scenarios
3.1 credit cards
3.2 pay day borrowing
3.3 tax
4. Wellbeing and Freedom
4.1 Invest in relationship and health and yourself
4.2 Financial and Emotional Confidence [see resource #1]
4.3 FIRE
5. Difficult questions
5.1 Why my friend have a second home/go on vacation/ have xyz
Resources
1. From
https://www.guardianlife.com/news/release/guardian-announces-new-research-exploring-emotional-and-financial-confidence- Live within your means and have a long-term view. Creating a budget and writing down a long-term financial strategy sets a strong financial foundation
- Know how to balance risk. A combination of protection and investment products can help lead to higher confidence.
- Leverage relationships with financial professionals. Seek guidance from professionals who can implement strategies for creating income streams and discuss impending opportunities and risks.
- Pursue a financial education. Exploring online tools, attending personal finance webinars on your own or through your workplace will provide key economic trends and market news.