Kids and Money: Habits for a Lifetime
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Parenting is filled with challenges, and one of the biggest ones is teaching kids about money. When they see cash spouting out of an ATM, it's easy to understand why they think money is so easy to get!
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According to Jayne Pearl, co-author of
Kids, Wealth and Consequences, part of the role of parenting is to instill a sense of reality as well as stewardship in how kids learn about money. Here are some ways to help children understand the fundamentals of money management, even at an early age, from a recent
Parents blogpost, "
10 Money Lessons to Teach Your Kids Before They Turn 10:"
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- Start with a wish list. Encourage your kids to create a wish list for the things they want and how much each item costs. Then, help them prioritize which is most important to them. This is a great time to talk about what we value as well as building skills for saving.
- Help them keep track. Create a way for your kids to track their money. Whether it's in a notebook or on a computer, help them understand where their money is and how much they have, especially if they are saving for something special.
- Show how saving can be "cool." Once your child has saved up for something important to them, take them shopping and let them make the transaction. They'll remember how it felt to pay for it themselves.
Habits learned at an early age can last a lifetime. We're proud to work with second- and third-generation families and business owners on building wealth. Please let us know how we can help you and your family or business.
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Staying the Course
When it comes to investing, staying the course is just as important as the investments you choose. Most stock market returns come from a handful of days with big market moves and being out of the market on a few important days can have an outsized impact on performance.
Click here for a snapshot of how dropping out of the market, even for a few days, can impact returns.
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For help with
your
financial plan, please call
John Vires
,
CFP, CFA, at 630-653-1616.
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Welcome to Our Newest Team Member
We extend a warm welcome to
Debra Brown, our newest team member at MMA & Co. Debra joined us as a staff accountant / bookkeeper this month and will be working with the accounting services team to serve our clients' needs.
Debra comes to us with industry accounting experience and she says she's eager to be part of the public accounting world. She has a bachelor of business administration degree, majoring in accounting, from Roosevelt University. Born in Guyana, South America, Debra came to the U.S. when she was a young girl and grew up in the Chicago suburbs. She lives in Bolingbrook with her husband, Lawrence, and has three children: Abriana, Karrah and Zachary. In her spare time she enjoys hanging out with her kids and chauffeuring them to their various activities. We're delighted she has joined the MMA & Co. team!
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Our People Make a Difference
Fall is in the air and that means career fairs are happening on the campuses of our local universities. Pictured here are our two "recruiters,"
Brandon McHugh and
Nataliya McDonald, CPA, talking with one of the many students who attended the first career fair for small and mid-sized accounting firms at
Loyola University's Quinlan School of Business.
We listened to hear what's important to the next generation of young accountants and shared about the advantages of working at a firm like Mathieson, Moyski, Austin & Co.
In addition to spotting new college talent, we are actively seeking new team members with experience in public accounting. If you know someone who is looking for a job change, and who has seven years of management experience in the field of public accounting, please direct them to
our ad on the
Illinois CPA Society (ICPAS) website.
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On our calendar this fall:
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- Our friends and colleagues at First Trust Portfolio are participating in the FT Cares Foundation's "Light The Torch 5K" tonight, Sept. 28. This night walk/run begins and ends in downtown Wheaton at 120 E. Liberty Drive.
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- CASA of Dupage celebrates 25 years of service to the community with its anniversary gala, slated for October 20 at the Drake Hotel in Oak Brook.
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- On Dec. 1, Team MMA & Co. will once again take to the streets of Wheaton for the annual Wheaton Lions Club Reindeer Run 5K. We have sponsored this event, held in partnership with the Wheaton Park District, since it began. Antlers are given to the first 1500 people who register.
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Planning for the Next Generation
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Whether it's teaching our kids about money or recruiting the next wave of talent in the accounting industry, we know a thing or two about succession planning. Please let us be a resource to you as you plot your own financial course. Families, business owners and organizations all need support as we look to the future. We are eager to help you plan yours.
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Ron Austin, CPA
Brian Eisenmenger, CPA
Brian Hagene, CPA
Brett Mathieson, CPA
Mike Moyski, CPA
John Straus, CPA
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