6 Steps to Demonstrate Financial Wisdom as a Homeschool Family

Recently, David and I interviewed Earl Harris, who is a Business Development Manager at Falcon Wealth. He is also a Dave Ramsey-trained financial coach. You can find Mr. Harris at both Falcon Wealth and Ramsey Solutions. At Falcon, their mission focuses on helping people, not taking advantage of them. They seek to benefit their clients and not themselves. They are a teaching firm, and they want to provide knowledge to their clients. 

This interview provided superb insights for homeschool families who want to build better financial habits and prepare their children for their financial futures. These are skills that will last a lifetime for your homeschooler. 

• Learn to live within your means. 
• Develop a good budget and stick to it. 
• Use the SMART goals.
• Develop gratitude and practice charity. 
• Make family goals. 
• Offer yourself grace and move forward. 

The Financial Guidebook

First, learn to live within your means. Don’t overspend or dive into debt. Live with what you can save and spend. In addition, develop a good budget and stick to it. Practice good saving and spending habits in front of your children, so they can learn from your guidance. 

Next, use the SMART goals. View the questions below and write your answers down with your spouse to organize your thoughts and create an effective plan. 

• Specific = What do you specifically want to achieve?
• Measurable = In what timeframe do you want to achieve these goals?
• Achievable = What are the goals you should write down?
• Relevant = Why are you doing this, and why is it relevant to you?
• Time-Sensitive = What is your end date?

Also, develop gratitude for what you have. When you see others who are less fortunate, remember what you have and practice thankfulness for it. Then practice charity. Give what you can to others. Importantly, Mr. Harris explained that the more we give, the more we get back. 

Continuing, make family goals. Mr. Harris recommends going on a trip with your spouse to determine and set these goals. You can also open a discussion with your kids to see what they want to create for family goals. Do you want to plan a trip to Disneyland? Or Florida? Maybe enjoy several day trips this summer? Whatever the goals, come together as a couple or family to create them and strive for them. 

Finally, when you make financial mistakes, offer yourself grace. Don’t beat yourself up. Place those mistakes in the past. We can all learn from failure, so we can decide to move forward and begin anew. It’s okay to make mistakes. We are all human. This means you can regroup and push forward with your financial goals. 

Conclusion

In conclusion, these tips will help you begin a new adventure. An adventure where you can learn financial wisdom alongside your children. These six steps will guide you along life’s path and help you remain steadfast in your commitment to financial freedom. Walk forward with confidence, holding these steps in your toolkit. Remember to offer yourself grace as needed. 

Financial wisdom is all about choice, and today, as a homeschool family, you have a choice! At Nxt Era, we can’t wait to see what you choose. 

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This information came from a resource on the interview with Earl Harris. 

- NxtEra

Written by Bethany (@thebookwormgirl_bethany)

Book Recommendations:

Baby Steps Millionaires by Dave Ramsey

How the Rich Get Richer by Gabriel Shahin

Helpful Links:

Falcon Wealth - Planning Made Simple

https://www.falconwealthplanning.com/knowledge-center/

https://www.ramseysolutions.com/

More Knowledge, More Wealth with Gabriel Shahin - Podcast - Apple Podcasts

Founding Falcon Wealth (YouTube)