You know your children better than anyone, and that means they’re more likely to listen to you at the end of the day than anyone else. If your teen likes the idea of money, or you think your teen could use a little more advice on where to put their money, it’s time to interest them in a few investments they could make.
Investing is something we typically associate with adults wearing formal suits and carrying briefcases, and that immediately makes them feel incredibly unapproachable. We’re all worried about what our children are going to end up doing at the end of the day, so having an influence on them now could take them a lot further in their lives. Of course, it’s always their choice at the end of the day, but that doesn’t mean you can’t hand out advice whenever it’s needed. Here’s some things to talk over between the two of you in your spare time.
A Vehicle of Their Own
Cars are a big investment to undertake, but they’re always worth it. When someone has a car, they have legs that never get tired, and that means any kind of mileage can be undertaken. And this leads to great opportunities!
You can open yourself up to finding jobs outside of your local area, and you’re much more likely to get to your workplace on time if you’re already in employment. Increase your working hours and impress your boss with your new responsibility, and that promotion is a lot closer! Once you start earning properly, you can even buy out a private number plate for yourself, which increases the value of your car, especially if it’s an older model. Similarly, you’re not going to be wasting money on constantly changing public transport charges, and the time you’re going to save makes owning a vehicle worth it alone!
When your teen has a vehicle of their own, you know their independence is going to skyrocket, which is something we should all as parents want for our little ones. It also means they’re always going to have some kind of roof over their heads, and they’re going to be a little bit safer in their life because of it. A vehicle is always a good investment, so get them into driving lessons or sharing the family car to get started.
A Career in Technology
We’re living in an incredibly modern age, and that means more and more job opportunities out there are leaning towards the computer proficient. So, if your teen already has an interest in tinkering, or they never get their nose out of a phone, suggest to them how they could put this to good use.
App development is always a popular choice, and within the past 10 to 15 years or so, there’s been a massive shift in the digital market. No longer are people immediately jumping to creating their own website, as apps are the programs that reach the masses nowadays. Being able to write, code, and polish off an app means your teen is going to be in demand amongst the bigger companies, and going to college to top these skills off demonstrates on the CV how much your child can do for any kind of business.
For Actual Investing
Investments can take people far, and means they have a huge stake in the future. When it comes to playing around with their real money, there’s always places you think your teen could be smarter about what they choose to do. However, when they’re working a job and school at the same time, they deserve a bit of a treat!
When your teen is in the later stages of their teen years, this is the time for them to start investing. Getting into the market early guarantees a much better chance of success, and that means bigger returns than they would have gotten a few years down the line.
To start off, you could create a virtual marketplace to practice in, which means any disasters will be met with more caution and knowledge when they occur down the line. No one wants to make a mistake as soon as they start out, and when you’re younger this can immediately put you off for life; practice, practice, practice with fake money and go from there!
When it comes to the future, there’s a lot for you to talk about. People always need advice, and there’s usually no better person to give it than a parent!