Teaching Kids
Kids Ask The Darndest Things About Money
Tuesday, July 20th, 2010
Have your kids ever asked you a real stumper of a question about money? Consider this one, culled from a great series of blog posts from Ron Lieber at The New York Times: “You tell me all the time that the reason we have nice things and can go to a nice school is that ... [Read more]
High School Grads Not Ready for the Real Financial World
Wednesday, June 23rd, 2010
Nearly half of recent high school grads say they are unsure how to manage their own banking or personal finances, according to a survey by Capital One. Now for the good news: the survey also found that money is one topic where parental advice can actually get through to teens. Among the students who said ... [Read more]
Free Workshops for Kids
Tuesday, May 18th, 2010
With another school year coming to a close, you may be looking for free activities for your kids. For kids who like to build things (what kid doesn’t like to build things?), home improvement stores have some great solutions. Lowe’s Build and Grow Clinics, held Saturday mornings at 10:00, are for “recommended” for first- through ... [Read more]
The Lawn Mowing Millionaire
Tuesday, May 11th, 2010
If your child plans to work a summer job, encourage him or her to open a Roth IRA. According to a Mainstreet.com article, money you pay your child for chores won’t qualify, but money the child earns mowing other people’s lawns, babysitting, working a paper route, and many other jobs probably will. A Roth IRA ... [Read more]
Teaching Kids to Feed the Pig
Tuesday, May 11th, 2010
Looking for ways to teach your kids about money? Consumer Reports recently highlighted “Feed the Pig for Tweens,” a financial literacy program for 4th through 6th graders. The free program teaches kids how to save, spend smart, and distinguish between needs and wants. Teachers can use the materials in their classes or parents can use ... [Read more]
A Mom’s Final Advice on Money
Friday, May 7th, 2010
Anyone who has lost someone they love will tell you that holidays bring back some of their strongest memories of those people. That’s certainly true for me. So, with Mother’s Day this weekend, I’ve been thinking about my mom who passed away in December of 2003. This year brought back a memory of a conversation ... [Read more]
Kids Who Do Chores Do Better With Money
Thursday, April 22nd, 2010
Parents of adult children who regularly did household chores while growing up are more likely to describe their kids as “very financially responsible” than parents whose kids did fewer or no chores. That’s one of the findings from a new Charles Schwab & Company survey. Parents whose kids did no household chores also described themselves ... [Read more]
Should You Pay Kids to Go Green?
Thursday, April 8th, 2010
A new web site, Green Allowance, encourages parents to use allowances to motivate their kids to develop environmentally friendly habits. The site fosters a deal between parents and their kids: the kids take on various energy saving projects, the parents split some of the estimated savings with their kids. Green Allowance sends report cards, showing ... [Read more]
Youth is Entrusted to the Young
Friday, March 19th, 2010
There’s an old joke that youth is wasted on the young. Financially, it’s easy to back that up. According to tax information service CCH, for example, just 28 percent of workers younger than 25 are contributing to an employer-sponsored retirement plan. Of course, the best way to take advantage of the power of compound interest ... [Read more]
Kids’ Media Use Growing Fast
Wednesday, February 24th, 2010
Today’s’ young people ages 8 to 18 spend over 7 and a half hours a day using entertainment media such as televisions, computers, cell phones, and MP3 players. As reported by the Kaiser Family Foundation, daily media usage among young people has grown by over an hour in the past five years. Broken down into ... [Read more]
Kids Feeling Stress of Recession
Tuesday, November 24th, 2009
The recession has impacted all of us, including children. As reported on FiLife.com, a new survey from the American Psychological Association (APA) found that 30 percent of young people ages 8 to 17 are worried about their family’s finances – their second-highest source of stress after managing school pressure. The survey also found a gap ... [Read more]
Teaching Kids About Money
Wednesday, August 12th, 2009
Most kids have piggy banks – 85 percent of children ages 8-14, according to a new survey from T. Rowe Price. However, in many cases whatever money is going into those piggy banks is coming out just as quickly. More than 40 percent of parents who give their kids an allowance say it’s all gone ... [Read more]
A Teaching Moment
Monday, March 9th, 2009
With financial issues dominating news headlines, this is an especially good time to teach kids about money. And they could use some help. An LA Times article noted that many of today’s youth are already exhibiting the over confidence and lack of knowledge that have gotten so many adults into trouble. For example, a Charles ... [Read more]
Living Well on $44k
Monday, December 22nd, 2008
How did you do on finding holiday gift deals this year? Can you beat this: 27 gifts for $90? As reported on TODAY, that’s just the latest in a long list of amazing money moves executed by Steve and Annette Economides, who have turned smart shopping into an extreme sport. The Arizona couple, along with ... [Read more]
Getting Kids In The Game
Tuesday, September 9th, 2008
If there’s a child in your life that you would like to teach about money, a recent MarketWatch.com article offered up some good resources. It mentioned a downloadable computer program from Kidnexions. Priced at $29.95 and designed for kids ages 6 and up, the program helps kids keep track of their money, save toward a ... [Read more]
Mom’s Last Money Lesson
Thursday, May 8th, 2008
Anyone who has lost someone they love will tell you it’s the holidays that bring back their strongest memories of those people. So, with Mother’s Day fast approaching, I’ve been thinking about my mom who passed away in December of 2003. This year brought back a memory of a conversation we had about money just ... [Read more]
Raising Money-Smart Kids
Wednesday, March 12th, 2008
A recent article in the Wall Street Journal had some good ideas for helping kids cultivate wise money management habits. Whenever your son or daughter tells you about something they desperately want, add it to a written wish list. A few days or weeks later go over the list to see what they’d still like ... [Read more]
