As parents we want our kids to grow up to be independent, healthy, happy, and financially secure adults. Getting them there takes a lot of hard work. But knowing what your goals are can help. For example, is it one of your goals that your kids be responsible for making sure they remember to leave the house prepared? If it is, then bailing them out every time they forget is not going to get them there. If you rescue your…
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…
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)….
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…
Ryan had a race this past weekend just east of Los Angeles. It was a 7-hour drive and the perfect opportunity for me to use my passenger time to review The Young Investor, Projects and Activities for Making Your Money Grow by Katherine R. Bateman. I was interested in reading the book because I am a big believer in exposing kids to ways to make their money grow. Early elementary kids should open a savings account at a bank…