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Category: Spending

Adopt a Class or School – Change a Life Campaign

Adopt a Class or School – Change a Life Campaign

We’re working with Sammy Rabbit on his “Adopt a Class or School – Change a Life” campaign. If you’d like to participate, email me. Details are below.

“Adopt a Class Change a Life” Campaign Special

Teach Children SMART Money Habits!

Book + Music + Activity

Strategic Multi media, Multi intelligence approach teaches smart money habits; builds reading and listening skills!

Special (limited time only)

3 Items for price of 1

Get a FREE Story Book: It’s a Habit, Sammy Rabbit!

and a FREE Coloring Book with Stickers Inside

with Purchase of “Dream Big – Set Goals” Audio Song and Story CD (8 Tracks):

Minimum Qty – 50 Units

CDs: 50 x $4.99 = $249.50

Storybooks: 50 FREE

Coloring Books with Stickers Inside: 50 FREE

Add shipping, handling, and tax (if applicable)

Offer valid while supplies last

For more information about the books and CDs visit: http://itsahabit.com/

Order or Questions? Email me at:

karyn@kidnexions.com

Great Holiday Gifts: Board Games that Teach Money Concepts to Kids

Great Holiday Gifts: Board Games that Teach Money Concepts to Kids

Board games are always great gifts for the holidays.  And board games that teach kids money skills are doubly great!  The key is to sneak in the “money conversation” as you play.

For example, the popular Game of Life oozes opportunities to discuss buying a house, paying insurance, being prepared for unexpected expenses, playing the stock market…

And the lesser known Allowance Game is perfect for discussing wise spending choices, earning interest on savings, and jobs that your kids can do to earn extra money.   Gently tie in your real life experiences with these important money topics as they come up during the game.

We sometimes assume that, through osmosis, kids will make the connections between the money lessons in the game and what happens in the real world.  That is not always true, so it’s up to us to be on the lookout for these priceless opportunities!

Here is a list of additional fun games that help teach kids about money:

Presto Change-o (ages 4 and up)  Making change

Monopoly Junior (ages 5 to 8)  Adding/subtracting money

Pit (ages 7 and up)  Investing, understanding the stock market

Cashflow for Kids (ages 7 and up)  Investing, general financial education

Payday (ages 8 and up)  Household finances, bill paying

Monopoly (ages 8 and up)  Adding/subtracting money, real estate

Teaching Kids the Price of Luxury – A Teachable Money Moment

Teaching Kids the Price of Luxury – A Teachable Money Moment

It’s our job as parents to provide food, shelter, and clothing to our kids.  But no where in the manual does it say that our little cherubs need to be clothed in the finest of linens.

So the next time you’re out shopping with Junior, and he is just drooling over those $100 Lacoste shoes that “everyone is wearing”, remind him that you will always make sure his toes are dry and comfy, but your shoe budget taps out at ($60).

Smile, and then add that you are more than willing to have him pay the difference.  Tell him that’s the price of luxury.  Then let him decide if he’s willing to plunk down his money on the latest fad.

This is a great way to get kids to reflect on what they really value and underscores the difference between needs and wants.

Teachable Money Moment: Needs vs. Wants

Teachable Money Moment: Needs vs. Wants

Needs vs. Wants:  Let’s say you’re in the dentist’s office with your child and you’re waiting for your “turn”.  🙂  You pick up a magazine and start flipping through it. This is the perfect opportunity to play the needs vs wants game. By the way, this works best if you use a child-friendly magazine like Parents or FamilyFun.

“Hey, look at this cool yo-yo. I like the designs on it. What d’ya think? Would they be a need or a want?”

Have your child share with you his thoughts then ask follow-up questions such as: “Why do you think that?” “What is a want?” “What is a need?”

Continue flipping through the magazine: “How about this toothpaste? A need or a want?” “Can you find another example of a need?”

It gets fun when kids have to justify their reasons why they think Lunchables is a need. And, who knows, maybe their arguments will convince you.

A need is something we depend on. A want is something we would like but don’t need. Knowing the difference between needs and wants helps kids prioritize their (and your!) spending.

Oil. It’s Important.

Oil. It’s Important.

My niece stopped by for a quick visit on her way through to Burning Man.  She was driving my sister’s 2003 Honda Accord.

“Yup, it’s my car now,” my niece smiled.

I knew she had been having problems with her 1993 Toyota Tercel .  But I didn’t know what the problems were.

“So what happened to your car?” I asked.

“I ran out of oil.”

Really?  That’s what the problem was?  Not an old transmission or faulty spark plugs?  But a completely avoidable problem like making sure there’s oil in the car?

My niece is twenty years old.  And like most twenty-year olds, worrying about how much oil is in the car, or even knowing that she should be worried about how much oil is in the car, is not a high priority.  Hey, I’m in my forties and I still don’t like to think about that sort of thing, either.

But I do because it’s important.  For a couple of reasons.  One, it’s a safety issue.  Two, it’s a financial issue.

And it’s this last one that came in to play when my niece ran dry.  She ruined the engine.  Ka-put.  Fini.  A car without a working engine is, well, a large piece of junk metal.

So then my sister, a single mom, had to figure out how to solve the problem of finding another reliable car that my niece could safely drive to and from school 600 miles away.  And that’s why my sister’s Honda was now sitting in my driveway…and a used mini-van was now parked at her house thanks to a new car loan.

All I could think about was how expensive that lesson was.  I know my niece has learned from it.  But, it’s a lesson that could have been avoided.  Keeping oil in the car is not fascinating stuff to kids…or adults.  Regardless, that information, and a lot more like it, needs to be passed down.  Of course, that doesn’t mean it’s going to sink in.  But we have a better chance if we begin sharing this sort of information when our kids are young, along with the reasons why.

And to get it to sink in a little faster, it helps to let the kiddos know that once they get a car, it becomes their financial responsibility.  Then ask them which one they’d prefer to be financially responsible for:  a $40 oil change or a $10,000 car loan.   Hopefully it won’t take a dry engine to get them to understand the difference.