Helping kids appreciate money
There are plenty of opportunities out there for your child to earn a buck or two.Depending on their age, the opportunities just grow as their skills and maturity grows.The key is to put together a plan of action and then do it!
Read MoreAccording to a study conducted by the Journal of Consumer Research, “People who set themselves ambitious goals tend to be more satisfied than those with lower expectations.” People set goals with two factors in mind: expectancy and value. ‘Expectancy’ refers to how likely you believe you are to succeed, and ‘value’ refers to how good it will be for you if you do reach the goal.
Success doesn’t always come easy to the rich and famous. Here are a few examples of some famous people who have overcome difficult situations and odds to offer real rags-to-riches stories.
Have you set-aside ample time to regularly sit down and have “money meetings” with your children to discuss their money habits? If not, why not start now? And in addition to a successful school year, your children will also learn life long positive money habits.
Read MoreIt's the first week of April and summer is still a couple of months off. There's plenty of time to start looking for that perfect summer job. Or is there? Hiring managers are confident they’ll need summer help and they are filling temporary positions earlier—as in right now.
Read MoreChristmas and birthdays are often a time when kids get a windfall of cash and gift cards. Should you let them run right out and spend it all? Whoa. Not so fast. An incredible teaching opportunity for your kids has just presented itself. Check out Bob's interview with Murray Feldman on Fox 2 Detroit about teaching your kids how to handle the gift of money.
Read MoreWe had a mom write in with some ideas that she uses with her own kids at home. We thought they were great, so we wanted to share them with you.
Read MoreThe third little pig listened to his mother’s wise words and said “I don’t plan to live like the birds. No straw nor sticks will do for me; I plan to build my house solidly.” With his goal clearly defined and a budget in mind, the third little pig developed a plan and a timeline. “With a little hard work and some shopping around, I’ll have my brick house to keep me safe and sound,” said the third little pig.
Read MoreI know other moms who’ve experienced this mom-switch syndrome, but whether you can relate or not, there’s no denying that back-to-school time is about making transitions. Schedules, extracurricular activities, homework, new teachers, new friends, carpools, books, supplies, clothes…it’s time to pull up our socks and get moving again!
Read MoreThe secret behind these 5 secrets is that they aren’t just for kids. Leaders of Fortune 500 companies go through the same thought process during annual strategic planning as well as their daily priority setting. Start forming these habits now in easy, small ways and you’ll be giving your kids quite a leg up in the world!
Read MoreThe simple act of setting a goal is the most important step in accomplishing it. It's that tiny first baby step, but it's absolutely required and it sets everything else in motion.Did you know that an astounding 97% of the population does not take the time to set goals? FamilyMint provides a great way for your children to get started on the road toward developing the goal setting habit.
Read MoreThe Envelope System is a popular method of budgeting, and for good reason. The process is dead-simple.
Read MoreWho doesn't like to shop? Oh, I know there are guys out there that will say they hate shopping, but you catch them on the web surfing for a new Ipad or the latest and greatest gizmo. We're a consumer society. That's what we do...we buy stuff. But there's smart shopping and not so smart shopping. Who wants to be a smart shopper? Well here are some tips to help you and your kids stretch that dollar:
Read More“But why do I have to wait two weeks?” said my 12 year old son. “O, come on, please! I really want it and I won’t want anything else for a long time!” This was almost a weekly ritual in my house as my son would look through the Sunday ads for good “deals.” We had tried many things, including a mandatory two week waiting period, but nothing seemed to really help.
Read More100% of the kids that waited to eat a marshmallow were successful (good grades, relationships, happy) 15 years later when they were 18/19 years old. Wow! The ability to delay gratification really can predict future success.
Read MoreOne of our earlier blog responders suggested that “budget” has negative connotations these days, so he prefers “spending plan.” He suggests that this indicates that the planner is in control of his or her own financial destiny.
Read MoreAs parents, we have a responsibility to build our children into adults who don’t just cope, but thrive. A lot of it boils down to teaching them self control in making good daily decisions, including how they manage themselves – and how they manage money.
Read MoreGoals are self-fulfilling, create energy, and can lead to extraordinary lives, yet only 3% of us take the time to think about them and write them down.
Read MoreCreating money-smart kids doesn’t happen overnight. It’s a skill and a behavior that has to be nurtured over time. The skill lies in learning the value of saving, giving, and spending conscientiously and understanding the difference between wants and needs. The behavior comes from the habits formed in doing these things over time and learning from mistakes.
Read MoreRemember the 80's R.E.M. hit song, "It's the end of the world as we know it"? If we continue to do what we as a nation are doing fiscally, than those lyrics will ring true for our generation and more so for generations to come. Do you know the depth of our current trade deficit, national debt, and budget deficit?
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