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In this Blog Series Phil is answering questions that have been submitted by readers.

Today’s question from a reader is “What advice should I give to my adult children about money?”.

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Phil shares five thoughts that will help you with this situation, and a tip that will help.

• Focus on three areas:  short , medium and long term goals.
• Short term goals will improve focus and create instant motivation.
• Talk about the true cost of borrowing for purchases.
• Examples of medium term goals (3-5 years).
• Big goals require sitting down and crunching numbers.

TIP:  Find a third party, respected adult, to reinforce the messages.

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You can submit your own question by replying to this blog, or by registering for your free gift from Phil at http://philstrong.com/freegift/

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