Helping kids appreciate money
The 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 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 MoreThe Envelope System is a popular method of budgeting, and for good reason. The process is dead-simple.
Read MoreAccording to one expert, the right time to start an allowance is as early as your kids start to understand the value of money (usually around age 6).
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 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 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 MoreHaving a family of 6 in today’s society means that being disciplined in managing family finances must be a priority. This realization, and ultimately a commitment to do something about it is what brought my family to FamilyMint. If you are reading this blog….your probably have a very similar story.
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 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 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 MoreAre your kids looking to make few extra bucks this summer for a new bike, camp, vacation or just to sock away the savings? There is no better time than summer to encourage your kids to be creative and earn some extra money around the house or around the neighborhood.
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 MoreGiving back teaches your child the skills of being able to do more with less. This lesson will roll over into many aspects of their lives, including a true understanding of financial needs and wants. The better they understand this difference, the more likely they will make smart financial decisions as they get older.
Read MoreLittle kids are like sponges. All day long, they soak up information. They see dad walk up to a machine in a wall, insert a little card, punch some buttons and out pops green papers. They see mom load up a shopping card with yummy food, give a nice lady or man the same green paper and shiny discs, or yet a different card, and then get to take everything home. This is a wonderful system!
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