The best way to prepare your children for a successful future is to give them the 411 on how to start early to finish rich. What they do with their first dollar sets the tone with how they spend money for life. Start early. Teach teens about preserving the first three dimes [the three kings] of every dollar they receive to live a debt-free dynamic life filled with choices to sustain independence and financial freedom.

The concept is simple enough for a child to understand. It should be. It’s designed for children to apply it from their first job until retirement and even after if desired. By then, it’s just a habit and it’s the one good habit that determines the quality of their lives.

Think about that first dollar. There are three important dimes aka the three kings.

King #1 – The First Dime

The first dime goes to the tithe. It’s ten percent of one's net income. The tithe goes to a local church or charity that the child either attends or is in alignment with right morals and integrity. If the family is not familiar with one, visit a few places to ensure the organization does what it says. It should feed hungry souls spiritually, and feed and clothe the poor and any other support that makes a positive impact on the community. Being either personally familiar or having visited shows the child what it means to be a good steward. Know where the money is going.

King #2 – The Second Dime

The next ten percent goes into passive savings. It’s a bank account or CD that has the best interest rate available [worth searching]. These funds should never get lonely. It will benefit from time and compound interest. This is the second magical element that will seem to appear over time. It’s called money making money. It seems passive because it seems to sit there, but continual deposits make it valuable.
Speak to Human Resources about setting up direct deposits from an employer. Then speak to a bank rep about establishing automatic money transfers from your checking to the designated savings account on a specified day aligned with your pay schedule.

King #3 – The Third Dime

The third dime is for active investing. Initially, the second and third dime may both go into a passive account. The third dime can begin any time after the passive savings reaches one thousand dollars. But some begin with five hundred and that’s okay too if you know where it’s going. Active investing seeks higher returns which means greater risk. Stocks, mutual funds, index funds, REITs and Forex are all potential active investments. Some may even start a business or invest in a business as an angel investor. Due diligence applies here. That means take the time to do research and don’t invest in something that doesn’t make sense. Just as a side bar, there is no get rich quick. Get rich wise. Many have started early and gambled it all and had to start over. So do the proper research and trust your instincts. Some active investments are ahead of their time and may be an innovation for the next big thing.

With the three kings in place [first 30%], the remaining seventy percent will be enough to live on. Reader take note. The top thirty must be done in the order mentioned. 1) Tithe 2) Passive Savings 3) Active Investing

Your children will make better spouses and better citizens. They will also be in a wonderful position to teach their own children by example. Parents do the community and a society at large a great service when they prepare their children for the “real world” as we know it and not as seen on MTV.

Author's Bio: 

LeTicia Lee is the author of The Answer Key to Avoid Debt, Build Credit & Retire Rich (for grads soon to be grads and everyone in between)(Available in book, DVD and video on demand VOD formats) at