The Shopper 6/15/16

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Wednesday • June 15 • 2016

VU Dean’s List The Vincennes University Dean’s List for Spring 2016 includes Denise H. Boulos, Health Information Management from Dyer, IN. To qualify for the Dean’s List, a student must complete at least 12 credit hours and achieve a grade point index of 3.5 or better on a 4.0 scale.

Financial Advice Column

Give Your Children the Gift of (Financial) Knowledge

BOB KRYGSHELD It’s almost Father’s Day. If you’re a dad with young children, you can expect some n ice homemade ca rds. But, of cou rse, y ou r g r e at e s t r e w a r d is spend ing t ime w it h your kids and watching t hem g row. In ret u r n, you can give them a gift – the gift of knowledge. Specifically, in the months and years ahead, teach them the financial skills that can help make their l ives ea sier a nd more rewarding. Encourage your children to become savers. Set a good example. You might explain to your kids that you want to buy a certain item, but you are waiting for it to go on sale. Or, if it’s a particularly big-ticket item, tell your children that you simply can’t afford it now, but that you are putting away some money each week until you can. You might even ma ke a cha r t show ing your progress. Another way to help you r ch i ld ren become better savers is to provide t hem w it h a moneta r y incentive. To illustrate: For every dollar they put into a “piggy bank” or an actual savings account, tell them you’ll put in, say, 50 cents. They are likely to be pleased and exc ited by how much faster their money grows with your contribution, a nd t hey may wel l become more motivated to save. Fu r t her more, you’ll be giving them a valuable lesson for later on i n l i fe, w hen t hey work for a business that of fer s to match t hei r contributions to a 401(k) or other retirement plan. Un f o r t u n a t e l y, m a n y young people, upon taking on their first “career” jobs, either under-contribute to

their retirement plans or ignore them completely – thereby making it more likely t hat, later on in their working lives, they w i l l have to come up with much bigger sums each year to accumulate enough resources for a comfortable retirement. Children should also lea r n about i nvest i ng. To help get your children interested in becoming investors, point out that t hey ca n actua lly ow n shares of companies with which they are already familiar – the companies that make the games they play, t he mov ies t hey watch and the food they eat. In fact, you could even simulate the investment process by letting them choose a stock and then follow it. To ma ke t he results more tangible, use “play” money to represent an initial investment, and add or subtract to the pile to track the ups and downs of the real stock. You might even explain some of the reasons for t he stock’s movements. You might also explain that while these shortterm price movements are interesting – and maybe even f u n – to fol low, invest ing is actua l ly a long-term endeavor, and the best investors often hold stocks for many years before selling them. B y fol low i ng t he se suggestions, you can help you r ch i ld ren acqu i re good financial habits – and seeing them put these sk i l ls to good use ca n provide you with many happy Father’s Days in the future. This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Bob Krygsheld 501 W Exchange St. Crete, IL 60417 (708) 672-2892.


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