Raising Money Smart Kids!

12 Parenting Tips for Teaching Money in a New Economy

Few adults were taught about money as kids, but, as parents we cannot afford to leave this life lesson to chance. On the positive side of the economy many people are saving more, making smarter choices and thinking twice before spending.  Now is the perfect time to start teaching your kids money concepts. Below are 12-tips which teach “How To” explain money concepts in ways that kids and parents can understand and practice in their daily life.
 
Tip # 1 Engaging Kids Early About Money is Key! We introduce concepts like sharing is caring, ABC’s and 1,2,3s in Kindergarten how about introducing the concepts of money? Children have the greatest gift of all TIME + MONEY + COMPOUND INTEREST = MBA Massive Bank Account! We can show our children from an early age the more you learn about money the more you earn, check it out…One Dollar a day invested at 10% grows into $1,948,552.07 at age 65. Spend the first 18 years of their life teaching them how to handle, manage, control, understand and grow money. This will truly set your children on the road of success and wealth and secure their financial future. 

April is "Financial Literacy Youth Month!"

I am very excited about April! but I am having computer problems, so I walking away from my computer and working from my blog... I'll show my computer ;) that is my PC... (can't walk away from my Mac ;)

I have created a newsletter just for kids, and the first one is ready, check it out... it's so cool!

Download KidsNewsletter1 

In April I will be posting the 12 Parenting Tools for a New Economy! I will keep you updated.

Enjoy

Lori Mackey

Rules of Money Every Parent Should Know!

  First off I know it’s hard to teach your kids about concepts you don’t know yourself, but after the last year, it's obvious children should not follow down the same path as adults! One thing for sure is, we must teach our children… question things that don’t seem right, if everyone else is doing it…DON’T. 

Everyone knew that the loans, 100% financing and low interest rates were too good to be true, but took part in it anyway. Unfortunately the people who convinced everyone to take part in this baloney will not be held accountable, and the unfortunate homeowners are losing their homes, paid too much or have lost massive equity. By experiencing it first hand in 06, the little knowledge I did have was enough for me to figure out that these crazy deals were not realistic or in my best interest, even through everyone around me was saying it was ok!

 Now… I teach my children, just because someone is of an authority figure, (bankers, mortgage brokers, investors, lawyers, ect) does not mean they will tell you or do what is in your best interest. You must become educated in the areas that will affect the rest of your life!

 And money is on the top #1 List of items that you must become extremely educated and knowledgeable about… just look at the state of our economy, stock market and the housing market. This mess was driven by greed, but would of never happened if individuals were educated in money.

So…here is some really good news, I will walk you through step by step of how to teach your kids about money and below is your first step in changing not only your child’s financial future but your own as well…

 1. Not Talking to Your Kids About Money is Detrimental to Their Financial Future!

Talk about Money as Much as Possible …  just think it's mandatory that we attend school for 12 years to learn how to read, write and understand arithmetic. But nowhere in the equation are the concepts of money taught!

And here is the kicker… A’s in school and F’s in finance will land you in the poor house.

Money beliefs and habits start extremely young.

Talking Kids Through The Financial Crisis!

How you talk to your kids about the financial crisis depends on how it is personally affecting your family. Children do not have enough knowledge about money and the financial crisis to understand what is going on. This is a complicated issue for the majority of kids and they will have a hard time understanding. However, no matter what your child knows, take this time to assure your children that you are there to protect and take care of them. Children did not create the problem adults did. The lesson for parents is to take this time to start teaching your children differently when it comes to money! For all ages, my suggestion is to not create fear and insecurity around this situation but look for solutions on how you can teach your children better habits so when and if this happens in their adult life they will be well prepared.