Lessons From Rich Dad Poor Dad (Summary #4)
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We continue the series and focus on Lesson 3: MIND YOUR OWN BUSINESS and Lesson 4: THE HISTORY OF TAXES AND THE POWER OF CORPORATIONS
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Lessons From Rich Dad Poor Dad (Summary #3)
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With Summary #3, we focus on Lesson 2: WHY TEACH FINANCIAL LITERACY, and answer the question WHY DO THE RICH REALLY DO GET RICHER?
Read MoreLessons From Rich Dad Poor Dad (Summary #2)
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We continue the series on a book called Rich Dad Poor Dad and focus on Lesson 1: THE RICH DON'T WORK FOR MONEY
Read MoreLessons From Rich Dad Poor Dad (Summary #1)
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The “Lessons From” series are bite-sized summaries of books about financial literacy for parents raising money-smart kids.Today we start with a book called Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki, Sharon L. Lechter
Read MoreKnowing How to Write a Check Is Still Important!
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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 MoreDeficit vs. Debt
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With 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 MoreRe-imagining the 3 Little Pigs
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The 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 MoreWhat Teens Really Know About Money
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When 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 MoreTo Negotiate Life Successfully is All about Negotiation
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Every 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 MoreStory of Goldilocks and the 3 Imitation Bear Skin Rugs
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Follow 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 5 Secrets to Help Your Kids Achieve Their Goals
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The 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 MoreTeaching Kids to Invest in Their Futures
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Even 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 MoreExplaining the Basics of Stocks and the Stock Market to Your Kids
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Financial 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 MoreThe Crisis of Credit Visualized - A Great Way to Explain the Mortgage Fiasco to Your Kids
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The Crisis of Credit Visualized lays out the cause of the financial meltdown in simple animated terms that even your kids can understand.
Read MoreTop 10 Money Tips for Parents
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“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 MoreIf Kids are Like Sponges, Then Give Them Lots of Money Lessons to Soak Up
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Little 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!
Read MorePlanning for College with a 529 Account
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The price of college continues to go up; around $9,000 for tuition and fees alone at four-year undergraduate schools, and $35,000 or more at private schools, according to the College Board. Be sure there are no surprises; discuss these costs with your children, decide what they will be responsible for and get them on board (a FamilyMint.com account with a college goal is an excellent place to start!)
Read MoreSecrets of the Dollar Bill
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On the back of the One Dollar bill, you will see two circles. Together, they comprise the Great Seal of the United States of America. The First Continental Congress requested that Benjamin Franklin and a group of men come up with a Seal. It took four years to accomplish this task and two years to get it approved.
Read MoreTeaching Kids to be Money Smart
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Creating 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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