Aired 6 years ago on WINT 1330 AM 
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How To Teach Your Kids The Importance Of Saving For The Future

Financial advisor and mother of two Jane Hwangbo advises parents on how to teach their children about the importance of long-term financial goals.

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"I think it becomes a much easier conversation and open when you ask them what their dreams and goals are, who they want to be when they grow up."

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TRANSCRIPT This transcript was generated by AudioBurst technologies

What advice could you give them, to better prepare their children for financial decisions as they get older? - I think there are two things that I could point out. One is, instead of creating a dialogue with your child about money itself sort of as an end goal, I think it becomes a much easier conversation and open when you ask them what their dreams and goals are, who they want to be when they grow up. Do they want to help people? Do they want to teach? Do they want to become a marketing guru? Then, and then, you create financial plan together. Parent and child that can allow that dream to come to fruition. I think that that is something to keep in mind as a parent. And I know that's sort of opposite from, you know, 'oh, I want to talk about money', right? And secondly, this is very important. What can be, what is measured can be improved. Because, a lot of times people aren't sitting down and getting to the habit of measuring their progress, their financial progress. So they don't look at it. If you don't look at your bank statements, you don't look at what you're sending, you don't have a plan. Than unfortunately, you know, you're opening yourself up to financial risk in the future. So I think knowing that you need to create new habits, where you are measuring your progress, so that it can be improved over time, is crucial.