Recently I received the following money choice question from a parent:

My child will soon start to learn about money with the Money Savvy Pig. I would like to teach him that a percentage of each dollar goes into each category. Can you recommend a percentage for each category? I realize this is really a personal choice but would really appreciate your suggestions when considering what I would like to teach him.
Thanks for all you do!
Kelley

My response: (more…)

Thanks to my friend, Steve Rosen at the Kansas City Star for allowing me to speak my financial mind:

Why We Said ‘No’ to Our Daughter’s No. 1 College Choice – Kansas City Star

I have always believed that it’s only when kids of any age spend “their” money that they pay close(r) attention to the cost.  And the recent article by The New York Times adds further support to this theory! 

So parents, partner up on the cost of anything with your kids to help them understand value.  All kids, at every age, need to have “skin in the game” to care – even when it comes to college. 

Parents’ Financial Support May Not Help College Grades - New York Times

We all make mistakes – that is how we learn.  Writer Terri Cettina asked me how to handle kids money mistakes and was surprised when I cheered the idea!

How to Handle Kids’ Money Mistakes – Eqiufax

Attention parents!  According to a recent Wall Street Journal article, research suggests that a happier teen earns more money as young adults.  “Students who described themselves as happier at age 16 and 18 and felt more satisfied with their lives at age 22 earned more income at age 29.” 

Here’s the full article if you are interested in learning more…

(more…)

#9 of the Top 10 things NOT to say to your kids about $$$ – “Money doesn’t grow on trees!”

 Instead, you should say “Make a list of your needs and wants and let’s talk about how you can earn some money to save to get what you need and want.”

 Click below to view each of the prior things not to say to kids about money:

#1 of 10,  #2 of 10,  #3 of 10 ,  #4 of 10,  #5 of 10,  #6 of 10,  #7 of 10 and  #8 of 10.

The holidays are just around the corner, so it’s time to start thinking about how you can start saving now to get all those gifts on your family’s and friends’ wish lists.  My friend Andi guided me to a post by Lila Quintiliani on the Military America Saves site which offers some great tips to help you get started.  

 5 Tips for Saving Before the Holidays – by Lila Quintiliani MilitarySaves.org

Do you have other tips you’d like to add? Please add your comments below!

So, should kids work in high school? Does a job interfere with grade performance? Is balance of both the key to success later in life? Danielle Cheesman of Loop21 interviewed me on these very questions. Below is the link to the resulting article with my responses.  Take a look and let me know what you think: 

Should Students Focus on Education Instead of Employment? - Loop21

#7 of 10 things NOT to say to your kids about $$$: “We’ll get that or do that when we win the lottery.”

Since the chance of winning the lottery are one in 12 million, you have a better chance of being struck by lightning (1 in 1.9 million).  So what you should say is…”Let’s make a list of what we need and want and start to save and invest towards those goals.”  Much better chances!

Click here for #1 of 10, #2 of 10, #3 of 10 ,#4 of 10, #5 of 10 and #6 of 10.

Last week I shared some money tips with journalist Kim Palmer of U.S. News & World Report.  Here is the full list she published to help families get off to a good start this school year.  Let me know what you think of these tips and some other things your family does to get off on the right foot each school year.

 “The Best Back-to-School Money Lessons for Kids” from U.S. News & World Report.