Helping Kids Get Smart About Money

Introducing Allowance with Money Savvy Pig Inspires Daughter

July 21st, 2015 | Add a Comment »

My friend Farnoosh Torabi forwarded a great testimonial from a mom who was trying to find a way to introduce allowance to her 8 year old daughter. Here’s how she tackled it using our Money Savvy Pig bank – and how it inspired her daughter. Enjoy!

My daughter is 8 and keeps asking about allowance but we have not seemed to have really gotten serious about it. I looked around for apps and didn’t find anything I liked that well, she doesn’t have personal electronic devices yet so I didn’t really have a desire to connect her to somehow electronically track a cash balance or something. So we went old school with something that’s been on my radar before that’s a recommended tool for teaching kids about money management (Money Savvy Pig – Pink) Read the rest of this entry »

5 Money Lessons to Teach Your Kids This Summer – Tip #1: Choice

July 16th, 2015 | Add a Comment »

lemon-standEver wonder how to help your kids learn smart money habits – especially during the summer break?  I recently shared top 5 tips for a special financial literacy insert with USA Today.  Here is the link to the article:  Money Matters: 5 Lessons to Teach Your Kids This Summer.

But I thought I would expand on these tips and share some examples of how our family personally applied them as well:

1.  Teach choice. Introduce the four choices for money (Save, Spend, Donate and Invest) to your child using a divided bank or jars. Teach them that there is more to do with money than just spend. Present opportunities to make choices with their money as well.

Read the rest of this entry »

College Students Can Start Building A Good Credit Score and History

June 18th, 2015 | Add a Comment »

USA Today included a good article in today’s paper that offers a strategy for how college students can start building a good credit history and score.  I thought this was pretty good advice, so I thought I’d pass it along to you as well.  College is an excellent time for young adults to use credit carefully and wisely and in a manner that will serve them well after they graduate.  Here’s the article:

http://www.usatoday.com/story/money/personalfinance/2015/06/15/credit-cards-college/28742151/

Five Money Moves Every Couple Should Make

June 17th, 2015 | Add a Comment »

The May 2015 issue of Money Magazine has an excellent article with money advice for couples.  In the June 2015 issue a pastor who counsels married couples writes in a letter to the editor that this article is something every young couple about to marry should read.  I agree; this article provides solid advice for all couples, about to be married, newly married or veteran couples. And couples who practice these money skills will be in the best shape to help guide their kids when it comes to money.  Enjoy:

http://time.com/money/page/five-money-moves-every-couple-should-make/

Teens Taking Money for Granted? Tips to Help (video)

May 20th, 2015 | Add a Comment »

As parents, we often try to provide all we can so our children – especially teens – have all they need to succeed.  But sometimes in the process, we create a situation we did not anticipate – teens taking our money for granted.  A few years ago, I offered some tips to a family struggling with this specific challenge on the Dr. Phil show.  So if you are struggling to find ways to help your teen to not take your money for granted, try these tips to help you and your family:

Money Savvy 3rd Graders at Ray Elementary – Chicago

May 15th, 2015 | Add a Comment »

I am usually not good about talking about the work we do – we just keep our head down and do the work. But, this week’s visit to a Chicago Public School was pretty special.

TreasFrerichs-JFederle-MLibert(CountryFin) withRayElemStudents-MsCollins-2015-05-13-crop(sml)

The kids in this picture are third graders from Ray Elementary. Ms. Linda Sue Collins is the teacher-librarian (back right in photo) that teaches the kids the Money Savvy Kids curriculum as part of the 2015 Financial Education Initiative in CPS. The really tall guy in the middle is Illinois State Treasurer Michael Frerichs Read the rest of this entry »

How to Help Kids Save and Begin Banking – Reuters

April 2nd, 2015 | Add a Comment »

Happy Financial Literacy Month!  To kick off this high, holy month of financial literacy, I shared some tips with Beth Pinsker at Reuters on how to help kids learn how to save.  Here’s the result of that interview.  Thanks, Beth, for including me in this conversation with your readers!

Article: “YOUR MONEY – How to Bank Your Child’s Money” – Beth Pinsker, Reuters

Join Money Savvy’s Super Bowl Giveaway by 2/1 and Win!

January 29th, 2015 | Add a Comment »

Football Giveaway Image for FB-Emails-Less TextWith all the conversation about “deflation” leading up to the Super Bowl this year, we thought we’d have a little fun and offer a positive twist.  To help your kids “re-inflate” their savings, we launched our Super Bowl Giveaway for your chance to win a Money Savvy Football Bank.  We are drawing names DAILY – so you have a great chance to win too!  But, the giveaway ends February 1st at Midnight, so enter now at: www.msgen.com.

Good luck!

Grandparents Teaching Grands About Money

January 28th, 2015 | Add a Comment »

Grandparents I hear from are deeply invested in shaping money smart grandchildren, as many feel they fell short with their own kids.

Often, when I am working with parents on this topic, parents ask me how to involve their parents in the financial education of their kids. They, the parents, want to “manage” nana and papa’s input in a good way – ;-)

I know firsthand the power of a grandparent as I grew up with my grandmother in our home and everything she said – even if identical to my mom and dad – was brilliant. Everything mom and dad said, well, it was suspect!

To help grandparents leverage this role they play in their grandchild’s life, here are a few ideas from grandparents who have written to me Read the rest of this entry »

USA Today Gives O.M.G. Book Thumbs Up !

January 2nd, 2015 | Add a Comment »

USA Today Logo - blue dotTime flew by so quickly last month that I nearly missed sharing some great news!  In mid-December our new book, O.M.G. Official Money Guide for Teenagers, received a great endorsement from Jayne O’Donnell with USA Today.  Here’s the article:

Putting money lessons for teens under the tree” – USA Today, Jayne O’Donnell

I haven’t heard yet what her daughter’s reaction was when she opened the book gift, but hope it will help when managing expectations and setting goals in 2015!