Step 4: Teach them the language and become conversational in it.
Children learn languages quickly. And, while it may seem a little daunting as an adult, you, too, can learn. You only have to be one step ahead to be the expert and if you do not know, just tell them you can learn together or make it their homework.
Teaching your children the language of money is much easier than learning other languages. And, it can make a huge difference in both of your lives.
Knowing the language means that money, finances, and investing will not be nearly as scary. It will make you more comfortable in making financial decisions and branching out into investing, leveraging the money you have, refinancing current loans, and optimizing your credit.
Bonus: showing children that you believe in learning new things will help instill a lifelong love of learning in your child which they are likely to pass along to their children.
But learning is not enough. You have to take action. So take that newfound knowledge and do something with it. Invest. Diversify. Have fun and experiment (with the caveat that you never risk more than you can afford to lose or tie money up you may need to use before the investment matures, depending on what you decide to do).
Do the terms in the above paragraph sound completely foreign? Great! Start with figuring out what they mean.