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Category: Allowance

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)….

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Teaching Kids Money: Embracing Mistakes

Teaching Kids Money: Embracing Mistakes

Nobody likes to make mistakes. They’re annoying, frustrating, and sometimes even embarrassing.  And they often make us feel like we’ve done something wrong.  Unless we change the way we think about them.  And when we do, we can discover that mistakes are one of the most powerful teaching tools we have. Consider your child being in charge of making a class poster for the school play.  He brings home the poster board and stencils and begins to work.  “Do you…

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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…

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Saying ‘No’

Saying ‘No’

Saying no to our kids can be hard for a myriad reasons…we don’t want our kids to feel bad, we want to avoid power struggles, we don’t want to feel “rejection” from our kids, we want to avoid conflict.  But, as my friend Kathleen Burns Kingsbury says, saying no is a gift.  It prepares our kids for the disappointments that life will inevitably throw their way, much as we’d like to protect them. When we say no to our kids, we are setting boundaries. …

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Nathan’s Hands-On Lesson About Insurance

Nathan’s Hands-On Lesson About Insurance

All three of us ran to the window.  We had never heard a sound like that before.  But that’s because we had never seen hail like that before.  It wasn’t that the hailstones were large, it was that they were coming down in sheets.  Within several minutes the entire backyard looked like it had been snowing for days. It was sort of fun to watch.  Until the phone rang.  It was Nathan.  I had forgotten about him.  He had left…

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