Annette Harris, a financial advisor, is committed to imparting an early lesson in finance to her children to shape their future financial behavior. Harris’s teaching methods blend self-directed learning, practical exercises, and guided instruction on crucial topics like saving, budgeting, and investing.
These lessons are crafted to be age-appropriate and captivating, fostering a growing awareness of spending habits and equipping them with the necessary tools to make wise financial choices. Harris’s ultimate goal is to instill in her children the values that lead to financial independence as adults.
At 14, Harris’s youngest daughter began delving into the world of investing. With a custodial account established by Harris, the teenager started exploring market research, stock types, and effective risk management strategies.
By becoming authorized users of Harris’s credit cards, the children learned valuable lessons on credit card management.
Teaching children the practicalities of financial responsibility
Harris capitalized on this opportunity to teach about maintaining manageable balances, handling due dates, and avoiding interest and late fees, emphasizing the significance of responsible credit card usage in today’s digital era.
The children grasped the art of tracking expenses and payments efficiently using modern tools like online banking and mobile apps. Harris also emphasized the importance of daily expense tracking, utilizing resources such as Excel spreadsheets or notebooks to document their financial movements daily.
One of the most impactful lessons Harris imparted to her children was acknowledging one’s limitations in knowledge, the necessity of asking questions and seeking answers, and the value of humility in financial matters and life in general. Coupled with these life lessons were practical tips on financial management, promoting not just financially beneficial habits but a lifestyle founded on financial responsibility and discipline.
