Family Finance

On the site, I often talk about teaching your kids all about money – money mechanics, money values, smart spending, frugal fun, and so much more. I was fortunate enough to grow up in a family where we talked about money and finance at least occasionally, which is more than most families. My father would always watch Wall Street Week with Louis Rukeyser when I was young, and I remember it was one of those shows where we couldn’t interrupt him.

Looking back, I can now see that in many ways their daily actions were teaching me wise money decisions, like delayed gratification, saving, and wise spending.

Today I talk about all of those same things here on the site – how I teach my kids about money concepts (tangible and intangible), and how they react to them.

Here’s information on how to teach your kids money mechanics, money values, and still have (frugal) fun along the way to raising the next generation of financially independent adults.

Teaching Your Kids Family Finance

Teaching Kids Compound Interest

It can be tricky to teach kids how compound interest works. After all, their memories and attention span are short. Compound interest is such an intangible concept, and the idea of money doubling over seven, ten, or more years sounds like it’s going to take forever. In this story, I talk all about how I took my middle son to the bank to cash out a savings bond I got when I was around his age. It had more than tripled in value since my grandparents got it for me as a child.

An Overview Of Kids Accounts

Are you unsure what kinds of account might be available for your (or someone elses) kids? Check out this awesome 101 breakdown of all the different options you have, and what they’re good for.

Kids And Identity Theft

Did you know that identity thieves prefer to stead kids identity rather than adults? It’s scary but true. Why? Because thieves can use that identity for years with no one knowing. Find out more about it, and how to protect your kids.

Kids and Stocks

There are many adults who don’t know about stocks – so how you can teach your kids about them? I like to do this by selecting stocks in companies the kids can easily understand, and use that stock to teach them the basics. My older boys have a share in Disney and Nintendo, and the little guy will get his share soon.

 

Kids and Taxes

Kids and taxes can be such a confusing topic! Here I break down everything you need to know about kids and taxes.

Teenager IRA Strategy – Get Your Teens Saving For Retirement

In this article, I share the strategy my father used to get me into saving and investing in my own retirement with my teenage summer jobs. I still have that old IRA, sitting in an S&P 500 index fund now. Be sure to check out this article for more on teaching your teens how to save for retirement.

All About Kids and Allowances

I have an unusual allowance strategy with my boys. I deliberately keep their allowance on the low end, so they learn to save up for the things they really want (hello delayed gratification!). They also need to work for their allowance. Now, work is always available should they really want to earn extra money to buy something. It’s just like the real money world – you get paid for work you do, and if you work more, you’re paid more.

Kids and Money Values

Honestly, teaching kids intangible money values is hard – and it’s hard to find good information on how to do this. On this page, I give you all my resources to teach your kids the hardest money lessons. It’s not about math, it’s about values.

 

Kids and College

I’ve written extensively about kids and college – from a concept I call the “college compact” that outlines exactly what your college goals are, to 529 plans, how to give the gift of college, and so much more. Check out all my amazing kids and college resources here.

Frugal Family Fun

As the mother of three boys, and wife of a stay at home dad husband, we’re always looking for ways to have frugal fun together as a family. Here you’ll find all kinds of creative ideas – from free weekend fun, to making your own board games, to so much more! Be sure to see how we have frugal family fun, and be inspired to have some fun of your own.

Kids and Money – On The Holidays

Ah, the holidays – the times when it seems like the spending will never end. Well guess what? It’s possible to have an amazing, fun, and frugal holiday without breaking the bank. Stop by this page and check out my roundup of the best holiday articles throughout the years.

 

 

My Favorite Kids and Money Resources

Not A Box – The best book about using your imagination, rather than needing new toys.

Warren Buffet’s Secret Millionaire Club – The most amazing set of online cartoon videos, all about teaching kids about money. My boys watched these years ago and still remember the lessons they learned. I highly recommend this for older elementary and middle school kids.

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