Nov. 24, 2017

Financial Freedom

Financial Freedom is something that we hear a lot as adults. Getting free from any type of debt whether it be credit card debt, student loan debt, anything that we owe to someone else. Once you become parents a lot of people want to bestow a sense of financial freedom or at least a strong financial foundation for their children. But with lack of education or poor money habits some parents don't know how to do just that. A little piece of advice from Dana Martin College.

1. BREATHE

It is not a sprint it is a marathon and learning about money takes time effort and habit forming.

2. EVALUATE YOUR CURRENT FINANCIAL STATE
Be clear on where you stand financially. It could be a very pretty picture or a ugly sight, but knowing where you stand gives you the best foundation so that you know where you need to go from there.

3. PUT TOGETHER A COLLEGE MONEY PLAN

For all of my parents that want to send their kids to college put together a college money plan. Learn about savings options. Learn about college savings investment plans. Learn about early scholarships. Learn about tips and tricks to get your child ahead of the game as early as possible. Children tend to perform better academically if they know they have some money set aside for college.

I get it. We are trying to live our lives and clean up debt and save as much money as possible so that we can live the life we always dreamed. At the same time we are rearing children who are just beginning their dreams and we want to be as big of a support as we possibly can. The best thing that we can do for our kids is to become financially stable and set a great financial foundation and example for them. If possible also providing a financial path for them to afford the college of their dreams (if that is their choice).

Let's talk about it! Tell me what you think below 👇