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Financial Tip

When you invest for the future, it's important to start early so you can keep time on your side. To achieve your goals, consider the following steps:

  • Start investing as early as you can.
  • Add to your investments as regularly as possible.
  • Monitor your portfolio over time to see if you need to make any changes.
  • Keep a long-term perspective as you invest toward your goals.

Don't be discouraged if you haven't already started investing for your long-term goals. Simply start as soon as you can - it's never too late to plan for the future.

As you watch your investment, it's probably best to ignore day-to-day market fluctuations and stick to your investment plan. Instead, focus on accumulating the assets you need farther down the road. Money earmarked for longer-term goals should not be disturbed solely because of short-term market fluctuations.

A Lifetime of Learning

 

There are many ways kids can expand their horizons and learn about the world. These opportunities help them gain knowledge and understand what is happening around them.

Learning is a fundamental building block to financial independence. The more children and young adults know about the factors that influence their life, the better prepared they are to achieve their goals.

There are probably many interesting – and affordable – educational opportunities in your community. For example:

Libraries
Your local library is a vast warehouse of fascinating information. It’s filled with thousands of books, dozens of newspapers, hundreds of interesting magazines and shelves filled with videos and audio recordings. Many libraries also offer classes and programs for people of all ages. Most of these resources are free.

Clubs and Organizations
No matter what your kids are interested in there is probably a club or organization to support it. Most hold monthly or quarterly meetings allowing them to explore more on the subject.

Book Clubs
Do your kids like to read? Then why not encourage them to join or start a book club? It doesn’t have to be a formal “club” with rules and structure. Just pick a book they would all like to read and discuss. Over the course of time they’ll learn about dozens of topics and explore a range of interests.

Online Resources
The Internet has changed our lives! It offers an almost incomprehensible ability to explore thousands of subjects. If your children don’t know how to use an online search engine to research a topic, help them learn how.

Cultural Arts Performances
Plays, dance performances and concerts provide a great way for kids to escape from the everyday and explore their imagination. Some local and community organizations often offer free performances in a community building or park.

Universities or Community Colleges
Most colleges and universities offer classes that allow young adults the opportunity to learn while earning college credit. Often times, these courses are considerably less expensive. Many of these courses go far beyond the standard college material. For example, students can enhance their photography skills or indulge their love for cooking.

Finally, don’t forget the daily news- paper and local news. By knowing what’s going on in the world, young adults can make smarter personal and financial decisions.

 

Teachable Moments

Why do people have the kind of careers they have? Do you think they always wanted to be a teacher, doctor, postal worker, scientist, or store manager? How did they get to be in these careers?

Ask the student to share the reasons why he/she is interested in a particular career path. Make sure the responses are specific. In other words, reasons must be more than just, “I think it would be fun.” Also, discuss the challenges and opportunities of their options.