10 Smart Money Moves Middle-Class Families Can Make To Set Their Kids Up for Success

In a popular financial planning forum, somebody shared that they were a parent of a two-year-old and were searching for the best ways to set up their financial future.

The poster explained that they live comfortably, have little debt, are on top of their mortgage, and are saving for retirement.

So what are the best ways for middle-class families can set up their kids for success? Here are the top-voted suggestions.

The number one voted response is to authorize them on your credit card. Then, when turning eighteen, they’ll have good credit. But, of course, that is only applicable if you’re on top of your bills and maintain a good credit score.

Add Them to Your Credit Card

For example, someone explained that they must understand financial agreements, interest rates, how the credit score system works, and “how to leverage their financial actions to manage their credit scores.”

Teach Your Children Finances

One person suggested that education is tied to financial success. So put your children in schools you can afford and take full advantage of enrichment activities, such as music lessons, sports, dance, summer camp, etc.

Ensure Good Education

Several people agreed that the best financial security you can give your children is by ensuring you’re financially secure; that way, they won’t need to worry about your retirement, as many do for their parents.

Make Sure You Are Financially Secure

Putting money into a 529 received several votes. Set them up to get a debt-free college degree. A 529 is a great option.

A 529 College Savings Plan

Swipe up to continue reading!

Visit WealthyNickel.com to learn how to save money and invest!

More posts:

62 Quick Cash Ideas You Need to Know

11 Highest Paying Jobs With Zero Experience Required