00:00 Spokesman a
According to a study of the Amer Award of 3000 parents, some of their largest financial problems include inflation and health of the US economy. For more information on how parents deal with these concerns and how to recruit financially literate children is Dina Heli, who is Vice President for Financial Planning and Tips of the Amer Award. So, we met, what is the parents emphasizing about finances right now?
00:30 In Healey
Thank you for having me today. We have studied more than 3,000 American parents and they have indicated that their main concern is how the financial decisions they make today will affect their financial future. We know that recent variability and unknown long -term tariffs can add significant pressure to these compromises. As you mentioned, we saw that they said that inflation and the American economy were their two main problems. And then, as they think about their long -term financial goals, they stressed that retirement, college training and daily cost management come first. If you think about what parents can do today to manage this sense of insecurity, first of all, avoid emotional decision making. When you feel out of control, focus on what you can control. Determine your key goals and concerns and then draw up a plan to help you manage your money accordingly.
02:04 Spokesman a
So, what do parents discuss with their financial advisers?
02:10 In Healey
I think, as you may expect, there is a feeling of insecurity and parents are looking to say: How can we handle it? It is certainly a lot to see. We know that if the policies continue as announced by the White House, we can see an increase in inflation and a delay in the broader economy. So, they ask what they can do today to help better prepare for this period of insecurity.
03:02 Spokesman a
For parents and households who know that there should be more financial education at a young age, what are some of the ways you hear from parents discussing your children about financial goals and being financially healthy?
03:21 In Healey
Absolutely. I think we know that parenting can be difficult financial and emotional. The thing I would recommend and heard from the people we talked to was that honest, age -appropriate conversations with their children about money is really key. It helps to enable children and confidence to talk about money and helps them to learn at an early age about financial compromises and prioritization. One of the respondents we have interviewed actually gives the parents to the children and the opportunities to practice financial solutions. We know that almost all parents engage the fairy of the teeth. They include the support of the dental fairy to help fill their children’s banks. Average, funny fact, the fairy tooth fairy gives $ 5 per tooth these days. And while this seems like fun -good statistics and that is, we know that this allows children to say, “Hey, do I want to spend those $ 5 on treats today, maybe a candy bar, or do I want to save it with my allowance for something longer?” So, this helps the child to start understanding that you can compromise on current costs or slow down future satisfaction. All this, honest conversations, UM, practicing in a safe environment, UM, understanding what money they mean to the family, really help to create children for success.
05:52 Spokesman a
Dina, some very valuable tips for the whole household. Thank you very much for spending time here with us.
06:00 In Healey
Thank you very much for having me today.