After I completed my formal college education and entered the “real world,” I went on to work in real estate, insurance, housing, and eventually mortgages and private equity management. Through each of these work experiences, I learned more about financial and investing topics that directly relate to everyday life.
Surprisingly, even for an accounting major like me, “real world” financial management hadn’t come up much very often in school. Where were discussions or lessons on budgeting, taxes, financial planning, insurance, investing, etc.?
Personally, it worries me. If some of these topics aren’t covered early on, especially those related to personal finance, what negative habits will our youth form by the time they’re adults?
As I mentioned in my last article, “My 3 Favorite Real Estate Investing Strategies (and a Plug for Old-Fashioned Discipline),” I also owe a lot to my mom, who instilled certain principles in me at a very young age and taught me to be disciplined and prepared.
And so, my approach with my own children was to try to engage them with these subjects as early as possible in hopes that some of it would be retained into their adult lives. It’s tough, though. As parents, we’re often busy, overwhelmed, and downright exhausted.
Here are a few ways I’ve tried to teach my sons (and now my grandson) about real estate investing and personal finance.
This article first appeared on BiggerPockets.com.