Helping kids appreciate money
Christmas 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 MoreI'm giving my 6 year old a cell phone for Christmas. Whoa! Hold on. Let me explain. My daughter is really 6, and it's a real cell phone, but it's not going to have any cell phone service. I'm "repurposing" a gently used Android cell phone to provide a FREE and pretty darn sweet handheld gaming device for her for Christmas.
Read MoreToday’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 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 MoreWith the national debt currently at $14.9 trillion, we hear a lot of talk about reducing our national deficit. My teen posed a question while watching a recent debate as to what the difference was between debt and deficit. Here's a very simple explanation.
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 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 MoreEvery day in life we are presented with opportunities for negotiation, and doing it successfully and where everyone walks away satisfied is an art worth learning at a very early age.
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 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 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 MoreWhen, where and how is the best way to teach kids about money management? They know how to spend it. That's not the problem. In fact from the earliest years, through internet and television advertising, kids are taught how to spend. We are now living through the effects of immediate gratification brought on over the past 20 years.
Read MoreToday’s parents can set the same example for their kids, who are bombarded with all sorts of expensive, “must have” electronic gadgets du jour. No matter how your child earns money, teach her how to save it, if only as a stepping-stone to bigger and better down the road.
Read MoreEven adults can be put off by the complexities of the stock market, but with smart investing, the long-term rewards can be great, and getting started early helps build experience, confidence and financial savvy that will stand children well throughout life. The key in getting kids interested in stock investing is to follow the K.I.S.S. principle, Keep It Simple Sweetie.
Read MoreFinancial markets are a driving force in our world, so having a basic understanding of how they work is essential to becoming truly money-smart kids. If it weren’t for the stock market, companies would be limited in developing products and services that help improve our lives; such things as life-saving medicines, energy-saving wind power, enjoyable movies and games, etc.
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 MoreThe Crisis of Credit Visualized lays out the cause of the financial meltdown in simple animated terms that even your kids can understand.
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 MorePrinciple #3 in FamilyMint Fundamentals is Motivate. Motivate and encourage to build new skills. Build skills to create confidence. Soon you’ll have confident, money smart kids!
Read More
