A guide to raising money savvy kids
Kids' Business: Creativity and Learning
Kids are natural entrepreneurs. They have big ideas and the creativity to take those big ideas to market. All they need to turn their big ideas into cash is a little help from us. If your child has an entrepreneurial spirit, help her figure out what she really likes to do (besides making money).
8 Summertime Money Lessons
Summer is the perfect time to teach children about money. There's more time in the day and more energy to get things done. Here are some tips for teaching money lessons. Choose one or two to teach each month.
Putting the 'Wait' Back into Want
Our kids are growing up in a world that is very different from the one we experienced. Very different. They are online and their access to the Internet has taken the waiting out of wanting.
The Top 10 Signs It’s Time to Talk Money
It’s always time to talk with your kids about money, but here are the Top 10 signs you shouldn’t wait another minute.
The Teaching Opportunity in the Subprime Crisis
In a nutshell, here's what's happening: Millions of homeowners, thrilled by the prospect of living the American dream, bought homes they couldn't afford. They were lured into taking mortgages for 100 percent of the value of the house, in the mistaken belief that real estate values would continue to soar.
Has Your Child's Identity Been Stolen? - Part II
When someone - it can be a stranger, but more often it's a parent or guardian - steals your child's name, address, social security number or other personal information and uses it for their own financial gain, the first signs that something is wrong often come through the mail.
It's Up to You to Protect Your Child's Financial Identity - Part I
Stealing a child's identity to open a credit account, apply for a loan, get a driver's license or rent an apartment can go undetected until the child grows up and needs to do a few of those things herself.
Invest Time to Explain Investing
First, let me tell you what this month's column is NOT about. It is not the "be all, end all" of investing tutorials for you or your child. It is not a list of stock tips or mutual funds to buy. Instead, it is an introduction for your child to the ideas of long-term goal-setting and investing.
How to Raise a Smart Spender
As adults, we’ve learned to rely on credit and debit cards daily. But what do our children learn when we pull out our credit cards?
Teaching Your Kids to Pay Themselves First
To teach our children about how to save money, we need to demonstrate that behavior and save money. As a nation, our track record on that score is not good. In fact, reports on adult savings behavior are downright scary.
Use Goals to Inspire Your Child
When I teach young children about goal-setting for their money choices, I start by asking if any of them play a sport. Many hands shoot up. I then call on a child to tell me what sport he plays. Let's say this child tells me he plays football. I then say, "OK, new rule for football: No more touchdowns allowed."
Teaching Kids About Choices
When you teach children that they have choices about what to do with their money, you begin to teach them self-discipline and how to delay gratification. This comes from the simple repetition of asking themselves, "What do I want to do with my money?" each time they have a dollar.
5 Steps to Raising Money Savvy Kids
It has become all too clear to us as parents that in order for our children to succeed in life, they must learn how to manage money. Children who do not learn how to do this may fail to launch or, worse yet, be back in their old room after college - you know, the one you had your eye on for your new office! To help our children learn to manage the money in their lives successfully, we need to teach them five things...
Susan Beacham is the founder and CEO of Money Savvy Generation, which provides innovative products and services to help parents and educators teach children money management skills. Email her at Susan@MSGen.com.