Parents, Avoid This Common Money Mistake
A money expert shares a big mistake parents make when saving for their kids, even after accepting a gift for his own son.
George Kamel works for Ramsey Solutions. He is a money expert. He recently took money for his son from President Trump. This gift goes into a special account for kids. It helps them save for the future.
But Kamel gave a strong warning. He says parents often make a big mistake. They save money for their children's future. They do this before they pay off their own debts. This can hurt the whole family's finances.
Kamel believes parents should get rid of their own debt first. Then they can start saving for their kids. This includes debt like credit cards or student loans. Being debt-free puts parents in a stronger position. It lets them truly help their children succeed later.
Think about your own money first. Pay off your debts. Then start saving for your children. This plan creates a more secure future for everyone.
Source: Fox Business
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