Helping kids appreciate money
According to Wikipedia, the free encyclopedia, there are over 100 national causes officially recognized monthly in the United States. Most of them are notable causes (for example: Autism Awareness Month, Bullying Prevention Month, Black History Month, National Day of Prayer, etc.); others are just downright silly. Well there's nothing silly about National Financial Literacy Month, which is celebrated the month of April.
If you've followed our blog for very long you know that we firmly believe it’s never too early to begin teaching children the fundamentals of financial literacy. It’s also a great idea to teach them about investing and the best way for them to learn is practically—by doing.
Read MoreCattle are probably the oldest of all forms of money. Cattle as
money dates back to 9000 B.C. Some cattle were still used as money in parts of
Africa in the middle of the 20th century.
Check out more fun money facts here.
Spring has sprung and summer is just around the corner. Has your family been thinking about or begun planning a summer vacation? Are you seeking some fun, educational, and budget-friendly ideas? It’s not the cost of a vacation that makes it fun for parents and children; it’s the time spent together as a family. Take a look at some of these ideas for family vacations on a limited budget.
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My oldest son is going to college next year and is considering getting an apartment. I don’t know about you, but when I hear these words (“college” and “apartment”), lists of various expenses quickly start scrolling through my mind. I wanted to help my son develop a similar mental picture of this new, expensive world he is walking into. But what’s the best way to relay the enormity and variety of the expenses of this new world to my son?
Read MoreYou’re never too old or young to have an entrepreneurial spirit and follow your dreams. Here are a few stories of some amazing child entrepreneurs. Share them with your children—maybe it will spark their entrepreneurial spirit!
Read MoreAccording to a study by the online publication Grist, the citizens of Austin, Texas spend the most on dining out—about $525 a month, or more than $6,301 per year. Residents of Arlington, Virginia spend almost as much. The citizens of Detroit, Michigan spend the least amount to dine out – an average of just $871 annually, or $72 a month.
Read MoreAlthough times are better now than they were five years ago, colleges and universities continue raising tuition costs. According to Bloomberg, tuition and fees for public institutions rose 4.8 percent in 2012, to an average of $8,655 per academic year. Nonprofit private colleges didn't increase as much — 4.2 percent, but now average $29,056 per year; or around $116,244 for a four-year degree.
Read MoreTeaching kids about financial literacy is something parents should make a priority early in the lives of their children. Before they can take those steps though, parents should educate their children about the need for and benefits of money. Along those lines, they should also relate the importance of giving to others less fortunate. Charitable contributions—even little ones—can make a big difference in a child’s community, and they don’t always have to be monetary.
Read MoreWe get many testimonials on the ease of use of FamilyMint, so we're very careful about adding features that add complexity that may not be used by a large portion of our user base. Many FamilyMint families have indicated that they actually prefer to track chores manually / outside of an online application. The chore tracking and maintenance implementations we've seen online are anything but simple, and in our estimation, actually seem to cause more work in the end vs. simple manual methods. This is one area where technology hasn't yielded a better result.
In line with keeping things simple... we thought we’d share what we do personally in our own families in hopes you might find it useful.
Read MoreOne of the best ways for children to learn the essential life skill of money management is for them to earn and be responsible for their own money. The following are some great money making ideas for children and young adults. Keep in mind that some of the suggestions are better suited for older children while others are suitable for younger children.
Read MoreAccording to research done by BIGresearch, in 2011 Americans spent $3.4 billion on dinners, $3.5 billion on jewelry, $1.1 billion for cards, and $1.7 billion for flowers on Valentine’s Day. A recent article in USA Today predicts that Americans will spend 8.5 percent more in 2013!
A quick Internet search of “Valentine’s on the Cheap” will yield some wonderfully romantic and inexpensive ideas for celebrating the ones you love this Valentine’s Day. The following is a small sampling of inexpensive or free ideas:
Read MoreIt’s never too early to start teaching children about the essential life skill of money management, but where do you start? Consider the following ideas:
Read MoreIn today’s tight economy consumers are finding it crucial to be spend-savvy and creative in their holiday shopping. Following are some tried and true cost-cutting holiday shopping tips, as well as some new and innovative ways to save money this holiday season.
Read MoreHave you set-aside ample time to regularly sit down and have “money meetings” with your children to discuss their money habits? If not, why not start now? And in addition to a successful school year, your children will also learn life long positive money habits.
Read MoreEarning money is vital to a sound financial future, and with our minds turned towards the celebration of Labor Day, what better time than now to help kids get in touch with their inner entrepreneur as early as possible.
Read MoreParents are set to spend $688 in 2012 to get each of their children ready for the upcoming school year. That’s for clothing, supplies and electronics. Seems like a lot? That's nothing, online shoppers are set to spend $874, a 27% increase above the overall shopper average. Here are 5 really simple ways your kids can help you cut down on back to school costs.
Read MoreFamilyMint is organized and focused first and foremost on SMART goals. You can use this setup to track very simple loans as well.
Read MoreMost experts suggest that kids need a more interactive experience to learn things, obviously leveraging their desire to play video games. Your child needs quality time with a parent, and what better way is there than to use FamilyMint to learn about managing money and go through good books together and highlight what is important and what is not.
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