I was being interviewed on Channel 12 just several hours ago, when I had ocassion to met Susan, a representative of Arizona Moms and it is at her suggestion that I get on this site and blog something I am very passionate about - and that is the need to provide our kids, and in my case, my grandkids, with a solid understanding of money and money management.
If there is is any interest in pursuing this topic, please let me know and I will be glad to share insights from my experiences, guidelines on why we should care, what we can do about it and most importantly how.
Pop Pop
I think its a great topic to
I think its a great topic to blog about. I'm sure many of us moms could learn a lesson or two on having those discussions with our little ones. Mine are a bit young...but I know the day will come when I have to have the financial talk with them. I say 'yes' - keep us informed in that area - esp. if you have a passion for it.
LisaMommy is a 38 year old discussion leader for arizonamoms.com from the Paradise Valley/Scottsdale area. Her two boys are ages 8 months and 3 years old.
I saw you on Az Midday! I
I saw you on Az Midday! I am certain the moms in here would appreciate your insights!
Mouse_tales is a discussion leader in the East Valley for arizonamoms.com. She spends most of her days juggling her duties as a mom, wife, and business owner. Her three little kittens range in age from 4 to 13.
I'd love to hear about it
I'd love to hear about it and know more about it. I'm in!
Paz
Please! I'd love to hear a
Please! I'd love to hear a tip a day on how to teach even little ones about money. We could all use your expertise.
Brooke Romney is an unbalanced mom of three young boys who constantly has too much to do, and too little time. She writes the Mom Beat column for The Gilbert Republic.
I concur - pass along your
I concur - pass along your wisdom. I know I could use some insight and how to best provide my children with an understanding of money and money management.
Bring it on!
KarilouMomof2 is a discussion leader for arizonamoms.com living in Tempe. Her daughters are 9 and 6.
Great idea! I'm trying hard
Great idea! I'm trying hard to instill the value of money in my kids but could definitely use some tips.
Lattemom is the mother of three energetic kids ages 6, 8 & 11 and a discussion leader for arizonamoms.com.
This is definitely a topic
This is definitely a topic that I am interested in hearing more about. We are constantly trying to teach our child the value of a dollar and how to manage their money.
I would love to hear not only advice, but stories of strategies that have worked well as well as those that haven't.
JuneSlager is a discussion leader for arizonamoms.com, raising three children (ages 15, 14, & 11) in Northeast Phoenix.
Here's something we can
Here's something we can never agree on in my house: allowance for kids. We have been really inconsistent with an allowance for my 8 year old. We used to give him $2 a week and encourage him to save it up. He did, and then spent it all when we went on vacation at seaworld. Needless to say it didn't go very far, and I'm not sure it was a good financial lesson. I really want our kids to learn about investing, but it's a complicated process to teach them at this age, what would you suggest for young kids?
BTW, girls, isn't it great to see a GRANDPA on the chat board? Way to go PopPop!
Susan is mom to Alexander, Isabel, David and stepmom to Eric. She does community outreach for arizonamoms. Have you checked the contest page for the latest giveaways?
Indeed! Enlighten us,
Indeed! Enlighten us, PopPop!
Mouse_tales is a discussion leader in the East Valley for arizonamoms.com. She spends most of her days juggling her duties as a mom, wife, and business owner. Her three little kittens range in age from 4 to 13.
Hi Everyone I was off line
Hi Everyone
I was off line for the last week or so, swamped with other things, but I do want to get you folks up to speed so that you can begin to at least think about getting your kids financially educated - so some starting pointers -
1. Get the grandparents involved. Most are concerned, just as you are.
2. Start discussing the meaning of cash flow using Monopoly money. For those not sure - Cash flow is the difference between what you get and what you spend. Positive cash flow is when you have $ left over after your expenses. Negative - when you don't have any $ left over.
I will try and post at least 2 times week with various hints.
One other hint is get the grandparents to read the book -
"It's Likely that your Grandkids will be Poor, Unless..."
It's written by a grandparent for grandparents.
Get it on Amazon, Barnes & Noble web site or at www.MoneySmartGrandkids.com
I promise not to be a stranger!!
Pop Pop
www.MoneySmartGrandkids.com
This is great stuff thanks
This is great stuff thanks for sharing!
I have question - I have been asking my daughter to save a certain amount of her money that she earns from allowances and lemonade stands - but of course she wants to go to the Dollar Store and also buy American Doll accessories. What percentage should I ask her to save?
Sorry for the dealy in
Sorry for the dealy in responding as I've had trouble logging into the site
anyhow - your question - how much should you ask your daughter to save is the wrong question since you are asking her to do something that YOU want her to do, not what SHE WANTS to do.
Make the idea of saving sound as if it were her idea. If it's her idea, she will save.
Next time she asks for something, tell her that she will have to save for it and purchase it from her funds. The more she saves, the faster she can have what she wants.
As I mentioned earlier - teach the idea of cashflow with Monopoly money and show her that what she wants may not be in the budget at this time and she will hgave to contriutre to purchasing the item.
Hope this helps.
P0p Pop
www.MoneySmartGrandkids.com
Thought for the day ~ Talk
Thought for the day ~
Talk to your kids about finances around the dinner table. In most families, that is not a normal topic of conversation.
You can start with short comments about the cost of gas or the rising cost of food. You don't have to spend a lot of time on the subject, but the mention of money should be often, at least once a day, so that it becomes normal and can be expanded on.
More next time!
Pop Pop
www.MoneySmartGrandkids.com
Please give us all the
Please give us all the advice you can. We have so much to teach our kids about money and appreciate any input.
soccermom
I. Talk about money 2. Teach
I. Talk about money
2. Teach them cash flow (Monopoly money)
3. open up a small online trading account ($500.00)
4. teen agers - get them a small (500.00) credit card and habe THEM pay off the charges MONTHLY.
5. I know it's a commercial, but get the book "It's Likely your Grandkkids will be Poor, Unless...". It's not just for grandparents.
6. Watch me on the Pat McMahon Show tomorrow - 9 am on KAZT
www.MoneySmartGrandkids.com