Eghie, MBA.

I help parents with practical tips on how to raise money savvy kids.

[Eghie, MBA. @Eghsman]

If you have kids aged 5-11, the one financial skill you should teach them in 2023 is savings.

For every $1 you give them, ensure they save $0.90.

Let me tell you why?

[Eghie, MBA. @Eghsman]

@LarryMadowo I am not here holding forth for the Nigerian govt, that's not my job, but I see that you come here often, why don't you just get a multiple entry visa & save yourself this hassle and cash. The convo abt africans needing visas into African countries we will have on another day.

[Eghie, MBA. @Eghsman]

@IAmClintMurphy @JTorreCoaching Giannis, not until he was 13, everyone has a chance if they apply themselves

[Eghie, MBA. @Eghsman]

@FinPlanKaluAja1 I would agree. It serves a plus but also a burden. As a collective, our size helps us in many ways, an atteactive market for investors/ manufacturers, but on the flip size, the size is often difficult to manage from a government standpoint. It is easier to manage 20m than 200m

[Eghie, MBA. @Eghsman]

@IAmClintMurphy I have never understood how people drink so regularly. I am not entirely against alcohol as i am an occasional drinker, but to consume it regularly has never made sense to me. It's all shade of wrong to drink on a weekday when you have work the very next day. My opinion though

[Eghie, MBA. @Eghsman]

He will also learn to safeguard it. For these reasons, Its a different story when they become teenagers.
Does it make sense?

Please like, share, and follow.

[Eghie, MBA. @Eghsman]

Piggy bank or a bank account? Which should you open for your kid?

[Eghie, MBA. @Eghsman]

If you open a bank account, the money is saved in the bank and can only be seen through an online portal, that 12 year old may easily get bored with it.

When he can see it, he will periodically go count it, and will desire an increase.

[Eghie, MBA. @Eghsman]

@thecableng The way they are smiling tells you the direction that budget will take. They are all happy because their needs have been well captured in the budget and well taken care of. The rest of us can keep gnashing our teeth.

[Eghie, MBA. @Eghsman]

@FinPlanKaluAja1 You're looking for trouble oo bros. They will call you an anti-christianity propagandist oo!

[Eghie, MBA. @Eghsman]

@leadlagreport That's a lot of attention you are giving these trolls or to whoever irks you.

[Eghie, MBA. @Eghsman]

@thejustinwelsh It's very nice that you share some of your vulnerability with your audience, and i bet a lot of us struggle too, joggling multiple things at the same time and spreading ourselves too thin.

[Eghie, MBA. @Eghsman]

@matt_gray_ 2024 is the year to flourish. All the hard work will yield some results this year. For everyone working hard, putting in the hours and sacrificing yourself, harvest time is close. It will haplen this new year, 2024.

[Eghie, MBA. @Eghsman]

Empower your kids with the tools to make informed financial decisions, turning money into a force for growth and responsibility. Share your own experiences and tips below! 👇💬 #MoneyEmpowerment #FinancialParenting #EmpowerTheFuture #MoneySmartKids #financialliteracy

[Eghie, MBA. @Eghsman]

🚨 Fear: Financial Illiteracy Risk: What if they don't learn valuable financial skills?
Solution: Make financial education a part of the process. Share stories, involve them in household budgeting, and gradually introduce concepts like saving and investing.

[Eghie, MBA. @Eghsman]

🚨 Fear: Spoiling the Kids Risk: Will they grow entitled or take money for granted?
Solution: Connect the allowance to responsibilities. Teach them that money is earned and that responsibilities come before rewards.

[Eghie, MBA. @Eghsman]

🚨 Fear: Influence of Peer Pressure Risk: Will they succumb to spending to fit in? Solution: Foster open communication. Encourage them to make choices based on personal values and goals, not just to keep up with others.

[Eghie, MBA. @Eghsman]

🚨 Fear: Mismanagement and Lost Funds Risk: What if the money goes missing or is spent recklessly? Solution: Implement a system for accountability, like a digital allowance app or a physical wallet. Regularly discuss their spending choices to build awareness.

[Eghie, MBA. @Eghsman]

🚨 Fear: Lack of Financial Responsibility Risk: What if they blow it all on frivolous things?
Solution: Use the allowance as a learning tool. Set clear expectations on budgeting, saving, and responsible spending.

[Eghie, MBA. @Eghsman]

Hey #ParentingTribe, let's tackle the fears that often hold us back from giving our kids a monthly allowance. It's normal to worry, but with a mindful approach, we can transform money into a powerful tool for growth. Here's how: