There is an old
saying that can be painfully true: “You are only as happy as your unhappiest
child.” One of the most common laments I
hear from parents of adult children is that, for whatever reasons, their
offspring seem to (repeatedly) need financial assistance … not because of
illness of hardship, but simply because of poor decision-making.
It can be a challenge to discuss finances with your adult children, and they seldom listen anyway. But, maybe
they will listen to advice from a third-party, especially if that advice is
delivered in a manner with which they are most comfortable – fresh, fun and
online.
American Express
has launched Currency (www.getcurrency.com)
to provide just that type of advice.
They offer online “courses,” and even a new iPhone app, Social Currency
for social networking. A recent hot topic:
Currency 101: What is “Spending”?
Some of other
course topics include Buying Your First Home, Get a Handle
on Your Taxes, and Managing Student
Loans.
While you’re at it,
your kids might also want to check out our June 2010 e-newsletter article, “Educating Young Adults
About Estate Planning.”