Prepare your children to make smart financial choices. It is a proven fact that a vast majority of self-made millionaires paid for a portion of their own education. In order for young adults to become financially secure, they have to be aware of the value of the dollar. Teach your children what a budget is. I can’t tell you how many of my clients are paying too much to involve their children in activities that they truly cannot afford. Explain the costs of extracurricular activities so that your children take an active role in the financial choices occurring in your household. Show them how much it costs to go to college, but also make them aware of the value of paying for their education in the future.
For more information on bankruptcy, please visit www.kansascitybankruptcyfirm.com/ or contact your Kansas City Bankruptcy Lawyer, Betsy Lynch at 816.434.6616.