How to teach your children financial freedom.

Financial freedom usually means having enough savings, financial investments, and cash on hand to afford the kind of life we desire for ourselves and our families. It means growing savings that enable us to retire or pursue the career we want without being driven by earning a certain salary each year. Financial freedom means our money is working for us rather than the other way around.

As a parent you constantly look out for your child’s best interest whether it’s selecting a school, shopping for clothes or deciding what meals to make for them. You’re intentional about setting them on the rest path for success in life.

This is why you should ensure you teach your children good money habits early in life. This way, you set them on a path to becoming successful and financially free adults. As early money habits go a long way in making wise financial decisions.

Here are 4 money habits to teach your kids-

Saving: It is important to teach your children that money isn’t just for spending, it can be saved as well. You can encourage them to save by explaining how saving helps accomplish goals. An example is encouraging your child to save for a toy. You can help your kid start saving by opening a LifeTime Needs plan at Enterprise Life.

Budgeting: To get your child comfortable with the idea of budgeting. Help your child understand the difference between what they want and what they need so they can prioritize how they spend their money. It’s essential your child knows that wants are least important, compared to needs.

Profit making: Teach your kids that money can grow. This way they set out early in life to build wealth through investing. One way to do this is through getting them books on investment.

Giving: If you value giving to others, you can instil that value in your children by making giving a habit for them from an early age. A key reason why it is important for you, as a parent, to teach your kids financial lessons is because you can share your money values through those lessons.

If you want your children to develop good spending and saving habits, they need to see you making smart spending and saving choices. In short, practice what you preach and preach with consistency.

Educating your children about personal finance is a process that can take time. But if you put in the effort and continuously communicate a clear message about money, you will instil good habits that will serve your children well.

4 ways to express love to your family

We find it very easy to say we love our families, but do we show them that we do. The love amongst families comes with its unique feelings, behaviours, challenges, and rewards. You must be intentional about finding ways to show and grow love in the family.

And guess what? Family isn’t just about blood relations, as friends become family.

It’s easy to get consumed with our busy schedules and dream chasing that we forget what’s important to us- FAMILY. You should also realize that there is no perfect time to show love to your family. It shouldn't be reserved for just holidays and grand gestures. It’s the little things we do and how we do them every day.

Here are 4 ways you can express love to your family all year ‘round.

1- Communicate daily- As simple as this sounds, many of us hardly find time to actively listen to our family members and friends. By taking an active interest in their lives whether it’s listening to details of their long day or just letting them vent. It could also be as simple as asking your parents about their new interests and hobbies or listening and talking to your children. It will help the family feel closer and develop a deeper emotional connection.

2- Show physical affection- Sometimes, all you need is a hug or smile to brighten up a person’s day whether it’s your parents, spouse or child. Being physically affectionate will also encourage the whole household to do the same. When kids see their parents being affectionate it shows what a loving relationship should look like.

3- Spend quality time together- The lack of quality time takes a toll on all kinds of relationships whether between couples, parents and their children, or siblings. Take time off and spend it performing bonding activities such as cooking together, going for walks, shopping etc.

4- Secure their future- The greatest love letter ever written to a family is a Life Insurance. By having a life insurance you’re making sure your family which includes your spouse, parent or children will be well taken care of in your absence. When you prepare for life's surprises it shows how deeply you care about your family’s well being. You can call a Life Planner on 0700 3683 777 473 to find a plan that works for you and your family.

Remember to not only show love to your family but to say it as well. Don’t expect your family members to know just because you think you are demonstrating it through your behaviour. People need to hear it, say the words, ‘I love you’ as often as you can. When you say ‘I love you’, it is the ultimate validation and confirmation of their feelings about your action. It is like an unwritten contract of affection between two people.