Helping kids appreciate money
How much allowance should I give my kids? What do other parents do? Is giving an allowance even a good idea?Many experts will say $1/week multipled by your child’s age is the “right amount”. To this, we say nonsense! Here is some quick information that really will help.
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 MoreAdam and Matthew are serial entrepreneurs and have boiled the subject of kids starting businesses down into 60 short and enjoyable pages. The look and feel is like that of a fun, colorful scrapbook rather than boring business book. I would definitely recommend it for parents with kids between the ages of 7 and 14.
Read MoreThe NFEC recently honored FamilyMint with the annual Best Practices in Financial Education Award. FamilyMint won this award in the Kids Financial Education Software Category.
Read MoreOnce upon a time there lived a little girl who was loved so dearly, and it could be seen very clearly. Her name was Little Red Riding Hood, a girl so sweet and so good. Her parents gave her all the best, but did they truly prepare her for her first big test? She was popular and had many a friend, but unfortunately did not learn how to wisely save and spend.
Read MoreIn this last entry of the series, we cover methods to overcome obstacles, cynicism, laziness, and bad habits, as well as concrete ideas to getting started
Read MoreToday we learn that money can be created, and your financial IQ is the way to create it.
Read MoreWith each choice comes a consequence. No amount of rationalizing or complaining will alter the consequence. If you pick up one end of a stick (choice), you also pick up the other end of the stick (consequence of that choice).
Read MoreWe continue the series and focus on Lesson 3: MIND YOUR OWN BUSINESS and Lesson 4: THE HISTORY OF TAXES AND THE POWER OF CORPORATIONS
Read MoreWith Summary #3, we focus on Lesson 2: WHY TEACH FINANCIAL LITERACY, and answer the question WHY DO THE RICH REALLY DO GET RICHER?
Read MoreWe continue the series on a book called Rich Dad Poor Dad and focus on Lesson 1: THE RICH DON'T WORK FOR MONEY
Read MoreThe best way to prepare your college-bound child for self-support is to slowly wean them from your wallet. The road to self-support can be a scary and bumpy one, at best. Whether it is before high school graduation or during their college years, you should give them time to make mistakes and learn the ropes.
Read MoreWe love online technology, and we love that our kids love it too. However, the Internet isn't safe for kids to just go roaming about anywhere, so we're big fans of parental control solutions. And we're huge fans of parental control solutions that are both very effective and free.
Read Morewritten by: Coach Funk, CFP® at www.SavingsCoach.comHanging out with my 10 and 12 year old nephews last weekend, I heard excitement in their voices when they looked up from their iPod apps and told me about cooking dinner for the family last week. They told me the great lesson they learned here is that they get to keep the PROFIT.
Read MoreThe “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 MoreI received this in an email and thought it provided a great, easy way to picture our national debt by comparing it to a household budget.
Read MoreIf you are like nearly half of the population, you have created at least one New Year's Resolution. But the majority of those resolutions are guaranteed to fail. The high failure rate is probably why the other half have stopped creating resolutions. But why is the failure rate so high? Here a five very simple tips to help increase the odds of you achieving your New Year's Resolution.
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 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 MoreEver hear the expression "post holiday hang over?" That's what it feels like when we open up our January credit card statement. With a little planning and creativeness, we all can avoid holiday debt and the post holiday blues and don't forget to include your kids in the process. Here are our 5 tips for a truly money-smart holiday season:
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