First, children need to be taught good money habits.  This often involves learning delayed gratification.  One way to teach this skill is to have a clear jar in a child’s room.  When they do their chores well, or they act nicely, etc. you put a small amount of money in the container.  Once it builds up to a certain level, take the money out and allow the child to spend it.  The child will soon come to understand this concept and to enjoy watching the money build up.

Teach your child creative ways of making money.  While schools usually teach children about jobs, they don’t often discuss investing, opening small businesses and being self-employed.

Help your child to understand giving as well.  Give your child a certain amount of money that can be used for charity at church or for a local charity.  If you have a slightly older child who is earning her own money, make a point of having her give a certain percentage to charity.

All of these tips should slowly, over time, help your child to understand the value of money and to appreciate its place in their lives.

Melinda Donovan, a senior vice president and trust officer at Cambridge Trust Company urges people to get into the practice of saving.  Even if it’s only $100 a month, and even if it’s towards the purchase of a car, trip or other item, it’s an essential practice.  Learning to save offers you a feeling of control over your fiscal future and allows you to feel more self-confident.

If you work at a company that has a 401(K), this is the most painless way to save.  Especially if your employer will match the amount that you put into the 401(k), this is simply a win-win situation.  Even if the employer doesn’t match your investment, it’s certainly still worth taking advantage of, as you’ll still have the interest, dividends and capital gains accumulated tax-free.

If your employer doesn’t offer a 401(k) or if you simply want a second retirement account, you can look into using an IRA.  The Roth IRA is particularly great for anyone with taxable income less than $110,000 as a single filer.

While you may initially feel like you simply don’t have enough money to save any each month, you can probably find a way to do so with careful planning.  Each dollar that you save will truly make a difference for you later – and it’s certainly worth putting the effort in now for the benefits down the road.

Make sure not to wait too long to start investing in your future. You can start putting money aside in an IRA or in another type of fund very young.  If you put even $1000 away each year from the age of 25, imagine what this money can be doing for you during the years when you are working hard.  This is a much easier and smarter way to invest than to hope that you have the money to put away later.

Talk to an investment advisor about investing in bonds.  They mature over a period of time and usually have a good growth percentage.  Real estate is often a good investment as well, as home prices usually appreciate.  Certainly, however, during a recession, you may find that your investment decreases in value.  In order to invest in real estate, you need to have a good knowledge of the market in the area where you want to invest and some extra cash to work with and invest.

It’s always a good idea to talk to a financial advisor to get advice about investing in your future.  It is, after all, your future we are discussing!

People enjoy investing in gold for a few reasons.  It can be quickly converted to cash.  It is easy to carry and to manage.  The performance of gold is proportional to the stock market, so it is pretty easy to calculate its worth.

Before investing in gold, you should definitely do your homework.  Some investors actually prefer to buy gold when the price is higher, with the thought that the price will continue to rise.  Others purchase gold when the prices are declining so that they can sell it when the price rebounds.  There are many ways to invest with gold, and you should certainly become educated before leaping into this field.  It’s definitely an option that many people don’t consider when they think about investing – and one that might be worthwhile to explore further.

Here’s a “how to” just to get you started.

1. Invent something cool, that you think other people will just love. If you are not the inventor type, then search the internet, magazines, and newspapers for a really cool invention. Hopefully this blog will help you find just the right item, cause, whatever, for you to get behind with your hard-earned cash, or your inheritance, or your lottery winnings.

2. After you’ve scoured every nook and cranny for the perfect thing to invest in, you should get to know the industry within which this cool investment resides. Maybe it’s a movie, or a broadway show, or a device to make a car run more efficiently, it is crucial to know as much as possible about that marketplace.

3. Always remember that investing is synonymous with “taking a risk.” This is always true, wether we are investing in our children, investing in the stock market, or investing in the number 12 on the roulette wheel. The only difference is how much risk, and if it’s worth the risk. The information you have, the more likely your decision will be correct. But you always must realize you can never know anything for sure. Tomorrow a hurricane might just blow everything away, or an earthquake, or a recession.

4. Get to know the people involved; the inventor; the fund manager; the CEO of the business. One of the keys to success is knowing the most you can about the entire enterprise and situation.

5. Good luck is also important.