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N. Elizabeth Fried, Ph.D.

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Financial Wellness

Richie Rich Green
Have you ever wished that you knew the basics of financial planning when you were a kid? Wouldn't it have been nice to have a leg-up at a much earlier age? Despite the fact that some of my executive coaching clients have been successful in their business or leadership roles, they have allowed their personal finances to go haywire by living beyond their means.  Many are facing the fact that the mortgage on their homes are upside down and they are struggling to hold on.  Bringing practical and creative ideas for the young ones in your life helps them avoid those issues later on. Here are some fun ways that can help your children, grand kids, nieces, or nephews get started on the right foot!

Having fun with the BasicsDr. Elizabeth Fried

The "Young Investor" website is a great introductory website which contains information ranging from the very basics, such as familiarization with financial vocabulary to the explanation of why Wall Street is called Wall Street. There is something for every age group on this site: a section for younger kids as well as teens and even one for parents! It contains easily downloadable interactive games, in order to keep them interested and learning on a deeper level.

More Advanced...
After learning the basics, or if your children have already saved up enough money to Motley Foolactually invest, they may be ready to digest some investing advice from the "Motley Fool". This site offers basic explanations but also more in-depth articles. Furthermore it has up-to-date financial news in order to keep abreast of the economic situation.

We also need to be aware of the international markets.  Is China all that it's cracked up to be.  The WSJ raised some questions about prosperity in China. 

Question:  Is betting at the Kentucky Derby a wise use of your dollars? If you are using them as entertainment dollars putting limits on the funds, you are probably safe.  As an investment?  Hmmm....maybe if you are owner of the favorite.  :-)