Biggest Investments For Families

There are many investments that we, as parents and adults, make as we grow older, but some of these have more of an impact on our lives than others. When I think of huge investments, I automatically think of buying our house and buying a new car. These are big ones, but there is another investment that is even bigger. What is it? Your own children! Yes, that's right! According to a report by USDA, it costs an estimated $295,000 to raise a kid from birth to the age of 17. That's a great deal of money and that isn't even factoring in the cost of a college education. I think my husband would pass out if he saw that total. The cost of raising a child seems never-ending, but you can ensure that your children have a better concept of the value of money by including them in family spending ideas and actions.

When I was growing up, I remember watching my parents sort out bills each month and knew we lived on a budget, but as far as how much money was spent and how money was saved, I was clueless. So, when it came time for me to move out and attend college, I had no idea my bills and rent would be so expensive and I certainly didn't know how to budget everything. I learned the hard way that teaching children about spending and money is a must to prepare them for their own futures.

How can we teach our children about money? Well, there are some great ways to include them in family money discussions according to Gregg Murset, owner of MyJobChart. Parents should never be afraid to discuss the costs the experience on a daily and monthly bases. For example, gas prices are so high these days, so this is something to talk about with kids because going to school and other after-school activities directly effects the amount of gas used. Take a look at the graphic above for more great ideas.

Do you engage your children in the discussion of money? Just by following some simple steps you can help them understand and grasp the concept of money much better. Plus, they will be more prepared when the time comes to move out one day. I sure wish my parents had included me in money discussions!

Unique Investment Ideas For Your Family

Back when our first son was just a baby, we struggled to get by each month. I had a part-time job, we lived in an apartment and my husband was still in law school! We lived on my measly salary and student loans back then, just making it month to month. Times were tough, but thankfully, times have changed for our little growing family!

Unlike our life only five years ago, we are now able to save and put back a bit of money each month. With two boys quickly growing and one about to begin school, we have already started thinking about investing money for their future. College is not cheap, as my own parents learned, so I want to be prepared. I've been talking with my parents about the different options we have and he suggested checking silver bullion prices!

So far, we have been keeping our money in a savings account, but not earning much of a return. That's why we have decided we are going to buy silver eagles. The coins are collectable and usually maintain their worth over time. In fact, their value will most likely increase over time. What I like about investing this way is that it's so safe and I can keep the coins in-hand. I know they are with me if I should ever need to sell them.

I have to admit that when I was a child, I loved coin collecting! I had several from around the world as well as collectable US coins. I think that is why buying the silver eagle coins really appeals to me. Plus, they are affordable! I can purchase several, keep them in our social security box and by the time the kids are going to college, who knows how much they will be worth. That's part of the excitement!

In what unique ways to you invest money for your family? Do you buy silver bullion?