- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Introduction
- Decide How Education Relates to Your Financial Goals
- Understand the Principles of Financing Education and Missions
- 1. Teach your children to be financially responsible
- 2. Help your children to save for their own (and other family member’s) education and missions consistent with their abilities
- 3. Have a plan for your children’s education and missions that is consistent with your personal goals and budget and follow it
- 4. Start NOW and early in saving for your children’s education and missions
- Understand the Priority of Money for Financing Education
- Recognize How to Save for Your Children’s Education
- Recognize How to Save for Your Children’s Missions
- Know How to Reduce the Cost of Education and Apply for Aid
- Summary
- Assignments
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
2. Help your children to save for their own (and other family member’s) education and missions consistent with their abilities
Encourage your children to set savings goals whereby they can save for their own missions and education. Goals are critical for children at every age. Many of the goals that I set as a child are the same goals I have today. Age has not diminished the goals.
Set up investment or savings accounts for your children, and encourage your children to contribute their savings to these accounts as they are able. Help them by also contributing to them on a monthly basis as well. Give your children opportunities to earn money that is earmarked, after paying the Lord, specifically for their missions and education.
