When it comes to kids and money, it is important to start talking about money at a young age. They get bombarded with advertisements all the time. They see stuff other kids have, and they decide they need those things too. We can’t stop that but we can give kids some of the basic tools of good personal finance.
Savings. For many of us, we don’t feel like we have enough. Some may be living “paycheck to paycheck” – others may have at least some reserves set aside. Some may not know how much to save. Or where to save it. We look at the present and wonder why we haven’t saved more. We look to the future and wonder if we’ll be able to cover the unexpected.
You probably have heard of the superstition some people have that finding a penny with heads up is good luck. While I don’t believe this to be true, I’ve always had a habit of picking up coins that I see laying on the ground in parking lots or sidewalks. Recently, I had a streak of spotting a penny on my walk from the car to the office three mornings in a row. And I did pick up those pennies.
At some point in your life, you have probably purchased a lottery ticket. The allure of that big jackpot… you plan out your dream vacation, you think through all the things you’ll do with the money. Your excitement builds. The drawing happens. Aaaand, you don’t win. On one of our Trevi planning days, Sarah and I, bought lottery tickets. We had it all planned out what we’d do with the winnings – a little extra capital to inject into the business, some cash for each of our families for...