Ramat Oyetunji exemplifies the growing trend of parents actively involving their children in financial literacy, reflecting the Financial Independence, Retirement Early (FIRE) movement. Parents are motivated to teach their kids about investing, budgeting, and the importance of delayed gratification, often filling the educational gaps left by traditional schooling. However, there is debate among parents on the best methods to impart financial wisdom without taking away childhood enjoyment. Experts emphasize a practical approach, recommending simple financial lessons to encourage children to embrace financial independence.
"If we can start our kids young, then that's a great way to pass down that financial literacy and generational wealth," said Oyetunji, 48, who retired at 44.
While much of the movement's emphasis falls on amassing enough to retire early, some principles extend to the next generation. Half a dozen parents told Business Insider they wanted their children to be more financially savvy than they were.
Some parents are split on how to best prepare their children for the financial world...though they weren't sure how far to go without taking the fun out of childhood.
According to experts, simplicity wins out...advised parents to introduce money lessons through "simple, practical ways," such as allowance, budgeting, and goal setting.
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