Tag Archives: Money

I Should Be Paid For Good Grades

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From GinasMom

This is another guest post by my oldest.

moneyMy mom says there are chores that I have to do because I’m part of the team, and then there are chores that I do and I get some money.Some of this jobs-jobs pay pretty well, but sometimes it takes me a long time to save money for things that I really want to buy.  Adding tax money on top of that makes its more challenging.

It’s time to be super-creative!

On my buy list is a Pucci Plush Pup for $19.19 at my favourite store Target. That’s a lot of money, and I’m afraid I won’t get it until I’m really, really old, like 10 years old. So I’m going to ask mom to pay me for good grades at school, after all my teacher says I’m doing great, and I’m not sure how long this greatness will last.

I don’t plan to whine about it, since whining turns my happy mom into a sad mom and it’s not a pretty sight. I’ve explained this to my younger sister a couple of times, but it looks like it will take her a while to understand it. I know that’s not the way to get anything out of mom.

I think this is a brilliant idea, and considering, I’ve thought about it all by myself, I can only see good things coming out of it.

Knowing my mom, she’ll want to know why I think it’s a brilliant idea. Here is my list

1.  If she pays me for good grades, then I’ll work very hard, pass all my exams, go to college, get a nice job, make lots of money, buy a house and move out of mom’s and dad’s place.

2.  It’s very hard work, and I believe hard work should earn some money. My mom says that all the time. “Hard work pays”

3.  It will encourage my little sister to work hard at school too. My mom says am to be a good example to her (She probably doesn’t need the extra money, since she won’t have anybody to encourage).

4.  Everybody gets paid for good grades. I know Jon’s dad pays him $5 dollars every time he passes a test.

Do you see any flaws in my argument? Anything else I can add to strengthen my case?

Please check back in a couple of days, and I’ll let you know how successful I was in convincing mom,to pay me for good grades at school.

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Kids, Money and Other Parenting Concerns

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How do you answer the following?

What’s the most challenging aspect of teaching kids how to handle money?

Do you consider this the toughest parenting issue you have to deal with or have ever dealt with?

If not, what’s your number one concern?

Finally how are you dealing with issues/concerns identified above, and what resources are you using?  I’m assuming GinasMom is at the top of your list:)

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Are you Honest Enough To Teach It?

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Family Values (Law & Order: Criminal Intent)

Family Values (Law & Order: Criminal Intent) (Photo credit: Wikipedia)

Weve heard the phrase kids learn by example and when it comes to money  or other life lessons, they are bound to “listen” to your actions more that your words.

The best course of action is to then attempt to live out  your values, pointing out the behaviours that are desirable, but even more critical acting out those values, which are a core part of your being.

With this in mind, today’s post is a simple question, I hope it is!

You’ve just spent a couple of hours at the mall which is about 20-30 minutes from your house, with your kids. On getting home, you realize the store clerk has given you the wrong change in your favor. Your 7-year-old daughter points out that based on what you’ve taught her, you should drive back to the mall and return the money. Do you agree with her and drive back to the store and if so why?

Do you disagree with her, and if so what do you do in that case?

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How are you Celebrating the Financial Literacy Month?

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financial literacy seal of approval?

financial literacy seal of approval? (Photo credit: Wikipedia)

April is the National Financial Literacy Month in United states. The goal of the month is to teach all citizens financial skills and ensure they have a good relationship with their money.

The Jump$start coalition started promoting the month of April in the year 2000 as Financial Literacy youth Month, but in 2004 the Senate gave the program a big push by recognising April as the National Financial Literacy Month.

In the past couple weeks, you may have noticed various activities celebrating this month all with the goal of ensuring everybody starting with the youth learn how to manage their money. How are you celebrating this month?

In the meantime, here are a couple of sites I’ve found on the web that discuss this topic, but even more crucial include or mention kids in the posts.

  1. Dave Ramsey – The time has come. Dave, Barrack and George in complete agreements on a national importance issue.
  2. Yahoo Finance
  3. Daily News – A perfect time to teach your kids about money
  4. Hoxton Financial – April is national financial literacy month
  5. Enemy of Debt – Through the eyes of a 5-year-old. 
  6. Start talking to your kids about money.
  7. MyJobChart – April is Financial Literacy Month.
  8. The Family Financial Literacy Pledge.

Question: How do you think we are doing as a nation as far as teaching our kids financial literacy?  What more can we do?

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Teachable Moments: Life and Money Lessons From the Holidays.

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Legong Kraton lessons for children (Ubud, Bali...
Image by Gustavo Thomas via Flickr

As we come to the end of the 2011 holiday season, I wonder what your kids learned about life by observing your behaviour during the Christmas holiday? What did you do with all the teachable moments that the holidays presented to you?

Children especially the younger set learn a lot by watching you, regardless of what you say to them. They tend to assimilate a lot of our attitudes and thought processes even when we are not aware of it, and it may take years before this info comes out.

It’s great you are verbally teaching them about money, the value of work,  being well-behaved and polite, being generous with their time and money, but kids absorb most of their lessons from you by observing your interaction with the external world, which is usually driven by your values. So consider a few lessons you may have imparted on them unwittingly over the holidays.

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Ideas for Budding Entrepreneurs

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Pet Sitting
Image by camknows via Flickr

One of the best ways for teaching kids about money, and where it comes from (doesn’t grow on trees), is to have them earn it, by doing jobs that actually pay. Up until age 12, they work chores at home, but between 13 and 15 years, maybe even 12, I believe they should start working some of this jobs outside the home. This will do a of couple things for them.

  • Start exposing them to dealing with other people in the real world.
  • Give them a chance to start practising negotiation skills.
  • Combat the entitlement mentality we all dislike especially in “Other families or other people around us”
  • Start teaching them how to balance work, school, play.
  • Keep them out of trouble.
  • Reinforce the financial literacy skills you’ve taught them up until now
  • Might help point them in the right career direction

The following is a partial list of jobs or businesses kids can work outside of the home.

  • Shovelling snow
  • Baby sitting / Mother’s helper.
  • Pick up mail for vacationing neighbours.
  • Mow lawns / Yard work.
  • Run errands.
  • Dog walking / Pet sitting.
  • Tutoring at places like Kumon, or just the neighbourhood kids.
  • Help out at the local Y, boys and girls clubs or summer camps.
  • Lemonade stand (this is great for younger kids).
  • Car Detailing.

Question: Can you think of other jobs we can add to this list. I’ll be happy to update it and off course, give you full credit.


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