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Any parent can tell you kids are expensive and unlike other aspects of parenting, they may never get the concept of financial planning right. To never lose unnecessary money, you need to seek good advice about the financial aspects of raising a family. Here we bring you 8 financial planning mistakes your parents might have made and that you can avoid.
Financial education is the ability to understand how money works. Here in Flawless Finances, we will walk you through the dos and don'ts of handling your personal finances to be financially literate and help you reach your financial goals. All of us aim to achieve financial independence and financial freedom to be able to live the life that we want to live. So, we're here to help and guide you to reach this point in your life the fastest and easiest way.
Chapters: 00:00 Introduction 01:53 Not prioritizing children's education over retirement 02:57 Underspending on Life and Disability Insurance 04:03 Failing to teach financial literacy to their children 04:51 Putting too much money into bonds rather than stocks 05:54 Not contributing enough to a Roth IRA 07:16 Overspending on their child's wedding. 08:06 Failing to start saving sooner. 09:07 Pre-baby spending sprees.
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Disclaimer: We are not financial advisors. The content on the channel and our YouTube videos are for educational purposes only. The information included is not a substitute for expert consultation. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research.
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