I was wishing to help our kids out in the future with getting started in there first home.
As this forum shows the sooner they get started the sooner they build wealth.
Prehaps I could offer them a deal that we as parents will match any deposit they save for the purchase of there first home.
Advantages:
They learn to save for a goal.
They get into property market young. (we all not what that will mean)
They don't waste money on boy racer cars.
They won't live at home till they are 30 trying to save for a deposit. ( not sure on the cost of kids living at home when they are older. But am guessing the money you spend helping with deposit could be offset by them not living at home. So it may not actually cost any extra to help them out.)
They get a crash course on life, Bills etc...
Has anybody tried an incentive such as this and had any sucess?
As this forum shows the sooner they get started the sooner they build wealth.
Prehaps I could offer them a deal that we as parents will match any deposit they save for the purchase of there first home.
Advantages:
They learn to save for a goal.
They get into property market young. (we all not what that will mean)
They don't waste money on boy racer cars.
They won't live at home till they are 30 trying to save for a deposit. ( not sure on the cost of kids living at home when they are older. But am guessing the money you spend helping with deposit could be offset by them not living at home. So it may not actually cost any extra to help them out.)
They get a crash course on life, Bills etc...
Has anybody tried an incentive such as this and had any sucess?