Money For Kids

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By Inspirepub


Teach early, teach often - money management will be as natural for your kids as tying their shoelaces if they are involved from an early age.
Teach early, teach often - money management will be as natural for your kids as tying their shoelaces if they are involved from an early age.
Parents are the key to teaching the next generation to be financially free. We need to educate ourselves, and pass on the knowledge, otherwise our kids will be doomed to repeat the mistakes of earlier generations. Photo: Manly Daily
Parents are the key to teaching the next generation to be financially free. We need to educate ourselves, and pass on the knowledge, otherwise our kids will be doomed to repeat the mistakes of earlier generations. Photo: Manly Daily

Why Is It So Hard?

We learn so many things as we grow up. We learn how to walk, talk, and get away with not doing our homework. We learn how to play complicated games, many of them involving pretend money.

So, why is it so hard for us to learn how to manage money?

Why do so many people struggle to make ends meet, even on reasonably high incomes?

Why do so few people manage to provide sufficiently for themselves in retirement?

It's not rocket science. We know what it takes. And there are some people doing it. So why isn't basic money management as widely understood as basic geometry?

Imagine what life would be like if making money came as easily and naturally as riding a bike or tying your shoelaces. Imagine graduating high school with a permanent, secure, passive income already in place. You wake each the morning to find more money has appeared in your account overnight! If you want to travel, you do. If you want to paint, write, or do any other creative activity, you do. You choose your occupation based on what you love to do, not the burden of having to pay the bills. You have all the time you need to socialise with your family and friends, to stay in shape, and to practice your spirituality.

This world is not a pipe-dream. It's not unrealistic. The world is alive with opportunity, more so now than ever before, and the opportunity is expanding exponentially. With the right knowledge and attitudes, today's kids can capture their share of that opportunity, and set themselves up for life.

So, why isn't everyone doing it?

Because not everyone's parents have the right knowledge and attitudes to pass along to their kids.

Some of those who have the knowledge and attitudes are still setting themselves up in life, working long hours, and find it difficult to break the knowledge down into terms their kids can understand.

What can we do about it? As parents, we need to be conscious that financial education ranks up there with education about nutrition, health, and communication. We must educate ourselves, so that we can educate our children.

There are many places to go on the web to get that vital financial education. The Cash Smart Kids program provides lessons for the kids, plus additional reference material for their parents. The Rich Dad website is rich in content, and contains information about the Cashflow series of educational board games. There are numerous e-Books, ezine articles, and offline financial publications with an online presence. And, of course, there are dozens of relevant books in your local book store.


Money Ideas To Teach Your Kids

The only money that you really earn is the money that stays in your bank account at the end of each week or month.

Don't spend your life working for money - put money to work for you.

Build your business, and let your business build your lifestyle.

Being self-employed can be like having a job, or like having a business, depending on how you do it.

Having a job is a temporary situation - you need to be thinking about what you will do when you no longer have a job.

Kids Making Money In The News

  • Young Entrepreneur Spreads Cheer, With Oprah's Blessing

    At age 9, Cameron Johnson started his first business, making greeting cards and party invitations on the Compaq computer he got for Christmas. Three years later, the Virginia native was making $50,000 a year selling Beanie Babies online from his parents' garage. - 2 years ago

  • Student entrepreneur wins $40,000 national scholarship

    Manitowoc Lutheran High School senior Jake Lindemann will be attending the University of Wisconsin-Milwaukee next year at the expense of the McKelvey Foundation. - 2 years ago

  • Lemonade Brigade wants to help raise money for local charities

    The Lemonade Brigade is the brainchild of Mary Brent, 12, and Beverly Brown, 9, two sisters who have devised a way to help charities using lemonade this summer. - 2 years ago

  • Young Entrepreneurs Could Win $10,000

    The Global Student Entrepreneur Awards will provide ambitious and creative Australian students a chance to test their business savvy. - 2 years ago

  • Students, teacher earn national entrepreneur awards

    DaMarra Underwood, 15, of Sheraden, a student at Pittsburgh High School for the Creative and Performing Arts, and Ben Bergel, 17, of White Oak, a senior at McKeesport Area High School, have been selected as recipients of the 2008 Global Young Entrepreneur of the Year award, spons … - 2 years ago

Teaching Kids About Money And Business

Comments

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avonte  says:
2 years ago

i need a job am 11 yer old i relly need a job bad

Inspirepub profile image

Inspirepub  says:
2 years ago

Avonte, there are lots of things you can do to make money - just start asking around. Depending on where you live there will be snow to shovel, lawns to mow, dogs to wash, or errands to run. Ask people to help you find something, and you will have work in no time.

Just make sure your parents know what you are doing, and check that it's safe.

Angela  says:
2 years ago

i love animals and am saving for money for my local animal shelter... i have only a bunch of coins so i waas about to change it into dallors.. first i counted it all.. i only had about 25 dallors! i really need a way to earn money for somthing i love!

Inspirepub profile image

Inspirepub  says:
2 years ago

Well, start talking to people about it, Angela, and asking for ideas - there is always a way!

jon  says:
8 months ago

i really need a job iv asked around no one needs anything done i have to save up mony for my sking trip to france preety please help mi

Inspirepub profile image

Inspirepub  says:
8 months ago

Jon, don't go and ask people if they need anything done - ask them what they don't LIKE doing, or what they don't have time to do. It helps if you have a checklist, like a survey, to jog their memories.

If you just say "do you have nything I can do for money?" just about everyone will say "no".

You have to do the thinking for them!

Andrew  says:
7 months ago

Wow, you have alot of great posts on this site Mrs. Ford! I've seen some of your other sites :) Keep up the great work! I really want to find work, so I am trying, but most of my ventures have been unsuccesful. :( But, Dr. Robert Jarvick was rejected by 13 medical schools before his artificial heart was accepeted! Did he give up? No! Also, a newspaper editor fired Walt Disney for doodling too much and he had no good ideas. But, look at what Disney has done today! So, I am just keeping on trying :)

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