Buffini & Company Blog

Three Financial Tips Your Kids Won’t Learn in School

Win the market with our Do It N.O.W. campaign. This turn-key, marketing campaign will help you find and secure listings for the changing 2024 real estate market. Avoid the chaos and serve the listing every time. Outperform the competition and build long-term business.

Although a child typically spends more time in class than they do at home (if we don’t count sleeping) there are many practical things that aren’t taught in school.

That’s where you can step in to teach your kids some core life skills so they aren’t caught by surprise when they get into the adult world!

Personal Finances

Finances are highly personal, and budgeting comes down to living within our means. Whether you’re an expert in spreadsheets or just getting started yourself, you can teach your children how to track their expenses, set a budget and stick to it. 

A great place to start is with a weekly allowance once they are able to count and have grasped the concept of money. This way, finances are part of the conversation at a young age.

Experts agree that children should earn at least part of their allowance and that they should be offered additional opportunities to increase their earnings. Be sure that you require a portion of each allowance to be put into savings for a future purchase. 

Credit Cards

Most adults were not taught about credit cards which explains why Americans have an average credit card debt of $6,194. However, we can help our children to understand that credit cards are a financial tool that can help to build their credit and that misusing credit cards can wreak havoc on your financial life.

Kids grow up thinking that adults simply swipe cards or tap screens in order to make goods appear. Teach them that every credit card transaction is tied to a loan that has to be repaid. The balance can be repaid at once and a history of responsible credit card payback improves your credit score.

The balance can also be repaid over time and the longer it takes to repay the loan, the more interest will add up. It’s also important to note that creditors are not patient and that if a payment is missed, there are additional fees and the late payment is reported to credit bureaus which can lower your credit score.


Another valuable lesson you’ll want to share with your kids is about interest rates. A simple way to illustrate how to earn interest is to pay them interest on the portion of their allowance that they save and then to compound that interest every month.

You will also want to teach them how interest works as a loan. You can do this by including them in planning a night out and agree to share costs. If the night out is $20, work together to negotiate how it will be paid back. For example, a one-time payment of $20 or four payments of $5.25 that includes a 5% interest fee.

We are here for you! For more tips, inspiration and advice on how to navigate the real estate industry during these unprecedented times, visit the Buffini Bonus Resources for ideas.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

April 5, 2024

The Slow Burn of Success: Cultivating Patience

In today’s super-fast world, we’ve come to expect success at [...]

April 5, 2024

Lessons from the Coaching Floor with Dave McGhee

If you have skills and experience, but you’re still not performing at the [...]

March 8, 2024

The Blind Goat with Christine Ha

Christine Ha was the first-ever blind contestant and season three [...]

February 26, 2024

The Power of Perseverance

In today’s quick-fix world, many people just give up when they don’t instantly get [...]

February 12, 2024

All It Takes is a Goal

Do you want to fulfil your innate potential but don’t know [...]

February 12, 2024

How to be a Goal Getter

If you want to achieve your goals in 2024, you need [...]