Waikato kids to get tips around finances
Teaching tots to count their pennies can pay off later in life, a financial strategist says.
When financial guru Hannah McQueen was sorting out retirement plans for her customers she kept stumbling upon one hiccup that would spoil her plan: the kids.
These children are the ones who should be financially independent but weren't. It was an issue, she was discovering, that was plaguing many families. McQueen decided these kids needed help and wrote a book on kids and money.
"They are taught to believe in themselves and reach for the stars, whatever that means, but no-one ever shows them how.
"The levels of income in this country are low. We can't change that but we can equip our kids to start looking at new ways to earn more money."
McQueen will be Hamilton on Thursday June 29 at Hamilton Boys' High School to share her tips for financially independent children.
McQueen says a lot of it comes down to communication, parents are encouraged to have frank discussions with their kids about their finances, conversations that would require parents to expose their own financial situation.
"Kids are wanting to learn things but parents are either uncomfortable talking about it or they don't know how to talk about it and it continues to be a taboo subject."
For millennials, she said, the odds were stacked against them.
"It's so hard for these guys to get ahead, the tools they're getting taught are not relevant.
"It's got nothing to do with avocados, these kids are up against it. I don't think people are taught to be financially successful.
"The kids coming through are smarter than us, they are still not going to be on track to do better financially and that's the thing that underpins everything."
The lessons should begin at six, she said.