Helping kids appreciate money
Today’s kids will be tomorrow’s adults and we keep on hearing that so many young adults don’t have a clue how to write a check. We’re here to help! For the next goal your child achieves in FamilyMint, rather than whipping out the debit or credit card at the store, take your checkbook with you and make it a learning opportunity.
Read MoreWhen it comes to being savvy about money, the line between what teens think and reality is as wide as the Grand Canyon. Most teens surveyed believe they are financially savvy. But when asked about specifics such as establishing good credit, balancing a check book or what a credit score is, the majority of teens were in the dark.
Read MoreFollow the story of Goldilocks in her search for an imitation bear skin rug and how she decides which one is just right for her and that buying something because it’s cheap will often make you weep, and to purchase to impress never works out for the best.
Read MoreThe Envelope System is a popular method of budgeting, and for good reason. The process is dead-simple.
Read MoreIt feels great when your kids earn their first paychecks in their coveted summer jobs. Their first instinct might be to rush out and spend away. But what happens when school starts? The money is long gone. The best way to make that money last through the year is to set up a budget.
Read MoreEating local is another way to be green, according to simple-green-frugal.blogspot.com. Not only is your food more nutritious because it’s picked at the right time, it also hasn’t been trucked hundreds of miles, using up gas and emitting greenhouse gases. Local farmers markets are a great way to open up your menu to whatever is in season and try something new.
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 MoreEveryone remembers their first car. Loving the freedom of the open road, getting your driver’s license, feeling in control, being behind the wheel by yourself for the first time. It’s an exciting feeling for the teen in your life, but how much should you spend on a car for your inexperienced driver?
Read MoreAfter months of saving, many teens anticipate spending part of their summer traveling with friends. However, it’s important for teens to plan trips as wisely as they save for them. Whether it’s an overnight camping trip or a week on a coastal beach, smart planning is equally important to financial success.
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 MoreWhy does your child need to know about supply and demand? Because unless you live on a deserted island, it affects practically everything in your life! From the price of lemonade to how many Beanie Babies you can collect, to how many summer helpers the pizza store needs, the forces of supply and demand are everywhere - so kids need to understand the concept early in order to live a reality-based existence.
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 MoreStatistically, we as adults don’t do very well when it comes to managing our own money, so are we laying the right kind of foundation the generations to come? Watch this video a find out for yourself. Real statistics. Real solutions.
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.
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