Most parents are more comfortable talking to their kids about bullying or drugs than family finances or investing. One of the most valuable lessons to pass on to your children is the importance of how to deal with money.

According to a recent JumpStart Coalition for Personal Financial Literacy survey, only 26 percent of teens up to age 21 say their parents taught them how to manage money.

Maybe you've already told them, ‘You should save your money,' but have you exposed them to the magic of compounding? (See #6 below.)

For the sake of their future finances (and possibly yours) you should be sharing these smart money tips now with any young adult in your life. But, not only their futures are at stake, spending and saving habits practiced during their twenties, can prevent needless debt and earn good credit records for when they need it most.

Here are six money tips, but most critical are the last two:

Amy Grant worked in the financial services industry for ten years, having earned a series 7 securities license. On her own, she has counseled many young adults on how to maximize their finances. She urges everyone to seek the advice of an independent expert, before investing.

Was this Article Helpful? SHARE it Using the Buttons Below