Can You Indulge Your Kids and Still Teach Them to be Responsible About Money?
by Jean Chatzky - from Oprah.com
"Whether you've got a toddler or a teen, teaching kids how to spend and save money is one of the most important jobs you'll face as a parent. The lessons you impart now can have a huge impact on how hard your child works, whether or not they get into debt and how well they can budget and plan for the future.
If recent surveys are any indication, kids can use the help. Few kids age 12 to 21 understand even basic financial terms, according to Phoenix Student Fiscal Fitness Survey. Only 12 percent could define the word budget.
But kids certainly know what they want when it comes to money—they want more. Our consumer-driven society teaches them that material things will make them happy. As adults, we know that's not true, and it's our jobs to make sure our kids understand that. Of course, a little overindulgence is perfectly natural, especially among this generation of super-involved parents. If your kid routinely wants the next great toy, video game player or trendy pair of shoes, and then grows tired of whatever it is they just bought within a few days, that's a sign you're erring on the side of spoiling them.
What can you do to help your kids avoid this fate? These two easier-said-than-done rules of parenting can be the keys to success."
To read more about the "two easier-said-than-done" rules of parenting click here.
I hope you've found this interesting and the statistics eye-opening!
Cheers.....Amanda van der Gulik....Excited Life Enthusiast!
www.TeachingChildrenAboutMoney.com
Tuesday, April 29, 2008
Launch of My Kids and Money eBook!!!
Hello Parents and Friends,
I am very excited and pleased to let you know our “Insider’s Secrets to Raising a Future Millionaire” eBook is finished.
It has taken a lot of effort and time (I was still working on it at 2 am this morning.)
I am very proud of the finalized product.
Read what my dear client, Yolanda, has to say about my new book:
"Hi Amanda,
I just wanted to congratulate you on a fantastic book! I grew up in a household with a ´poverty mentality´always struggling to make ends meet. Since having my own children I have always want to teach them that nothing is impossible but time seems to fly by and I always think I am not doing enough to give them a financial education (too busy trying to make money to give them the best schooling I can afford!)
Your book has really given the push I needed to make this a priority. They are already 6 and 8 and I know you are right - the time to start is now. If I say we don´t have the money for something they tell me to just go to the bank and get it - like it just appears magically.
I desperately want them to be financially secure so that they concentrate on enjoying life and there are loads of great resources in the book to help me teach them. This is a must-have for all parents."
Yolanda Solo
Thank-you Yolanda for your inspiring words, I will continue to do my best to help you teach your kids about money.
I am very excited and pleased to let you know our “Insider’s Secrets to Raising a Future Millionaire” eBook is finished.
It has taken a lot of effort and time (I was still working on it at 2 am this morning.)
I am very proud of the finalized product.
Read what my dear client, Yolanda, has to say about my new book:
"Hi Amanda,
I just wanted to congratulate you on a fantastic book! I grew up in a household with a ´poverty mentality´always struggling to make ends meet. Since having my own children I have always want to teach them that nothing is impossible but time seems to fly by and I always think I am not doing enough to give them a financial education (too busy trying to make money to give them the best schooling I can afford!)
Your book has really given the push I needed to make this a priority. They are already 6 and 8 and I know you are right - the time to start is now. If I say we don´t have the money for something they tell me to just go to the bank and get it - like it just appears magically.
I desperately want them to be financially secure so that they concentrate on enjoying life and there are loads of great resources in the book to help me teach them. This is a must-have for all parents."
Yolanda Solo
Thank-you Yolanda for your inspiring words, I will continue to do my best to help you teach your kids about money.
Thursday, April 24, 2008
How Does An Entrepreneur Respond To An Opportunity
"Example Of How An Entrepreneur Responds To An Opportunity
An interesting way to understand an entrepreneur is to examine how they approach things. We have taken a case of a social entrepreneur to examine how an entrepreneur thinks and acts in comparison to other career choices;
Identifying and solving large-scale social problems requires a social entrepreneur because only the entrepreneur has the committed vision and inexhaustible determination (passion) to persist until they have transformed an entire system.
The scholar comes to rest when he/she expresses an idea.
The professional succeeds when he/she solves a client’s problem.
The manager calls it quits when he/she has enabled his organization to succeed.
Social entrepreneurs go beyond the immediate problem to fundamentally change communities, societies, the world. There is a dramatic difference between entrepreneurs and other business people.
Entrepreneurs approach problems and opportunities with greater vision and passion which creates much greater impact then most people. If most people take a situation from A to B, an entrepreneur would take it from A to Z." http://www.teachingkidsbusiness.com/
I found this website and highly recommend it for it's incredible resources for teaching children about money and encouraging starting their own businesses.
Cheers....Amanda van der Gulik....Excited Life Enthusiast!
An interesting way to understand an entrepreneur is to examine how they approach things. We have taken a case of a social entrepreneur to examine how an entrepreneur thinks and acts in comparison to other career choices;
Identifying and solving large-scale social problems requires a social entrepreneur because only the entrepreneur has the committed vision and inexhaustible determination (passion) to persist until they have transformed an entire system.
The scholar comes to rest when he/she expresses an idea.
The professional succeeds when he/she solves a client’s problem.
The manager calls it quits when he/she has enabled his organization to succeed.
Social entrepreneurs go beyond the immediate problem to fundamentally change communities, societies, the world. There is a dramatic difference between entrepreneurs and other business people.
Entrepreneurs approach problems and opportunities with greater vision and passion which creates much greater impact then most people. If most people take a situation from A to B, an entrepreneur would take it from A to Z." http://www.teachingkidsbusiness.com/
I found this website and highly recommend it for it's incredible resources for teaching children about money and encouraging starting their own businesses.
Cheers....Amanda van der Gulik....Excited Life Enthusiast!
Wednesday, April 23, 2008
Young Investor Teaching Money Resources
Young Investor:
"SHARING YOUR MONEY WITH OTHERS
You already know three things that you can do with your money - spend it, save it or invest it. But you also have another choice: You can give it to groups that help other people, animals or the environment.
When you give money to charities, you can help make the world a better place for yourself and others. Gifts like these are quite popular among kids like you. In a survey conducted in 2000, six out of 10 students in grades six through 11 said they make their own charitable donations.1 Most popular are gifts to religious groups, health-related charities, groups that help the homeless, organizations that help animals and groups that provide relief during disasters."
I just found this website and they have incredible support and games for kids, parents and teachers to teach kids about money.
I highly recommend their resources. http://www.younginvestor.com/
Cheers...Amanda van der Gulik...Excited Life Enthusiast!
"SHARING YOUR MONEY WITH OTHERS
You already know three things that you can do with your money - spend it, save it or invest it. But you also have another choice: You can give it to groups that help other people, animals or the environment.
When you give money to charities, you can help make the world a better place for yourself and others. Gifts like these are quite popular among kids like you. In a survey conducted in 2000, six out of 10 students in grades six through 11 said they make their own charitable donations.1 Most popular are gifts to religious groups, health-related charities, groups that help the homeless, organizations that help animals and groups that provide relief during disasters."
I just found this website and they have incredible support and games for kids, parents and teachers to teach kids about money.
I highly recommend their resources. http://www.younginvestor.com/
Cheers...Amanda van der Gulik...Excited Life Enthusiast!
"Teaching Your Kids The Importance Of Saving
It is my opinion that, as parents, we have an obligation to teach our kids about saving and financial matters in general. I believe that teaching our kids about saving and financial matters is just as important as teaching them honesty and integrity, and even sexual matters. Yet, as is the case with sex, many parents are uncomfortable teaching their kids about financial matters.
I believe this is a big reason why we have a savings crisis in America. In the first half of 2005, the national savings rate fell to ZERO, down from a high of over 10% in the early 1980s. By the end of last year, the national saving rate had fallen into negative territory, -0.5% according to the Commerce Department. The Commerce Department calculates the savings rate by taking the difference between after-tax income and all expenditures, including housing, food and clothing.
Every three years, the Federal Reserve conducts an in-depth consumer survey called the Survey of Consumer Finances. These surveys glean lots of data on trends in consumer saving and spending. The latest report for 2004 found that only 40.8% of all households actually save on a regular basis, and in reality, that number may be high. In addition to the negative savings rate, the American Bankers Association reports that the average US household has over $8,000 in credit card debt. Credit card abuse by college students is epidemic.
I could go on with troubling statistics on debt and the lack of savings, but the point should be obvious. If we are going to educate our kids about the importance of saving, we must not only teach them, but we must also practice what we preach. Kids whose parents don't save are not likely to be good savers either."
I found this article on localhs.com and really liked how he spoke to us about kids and money.
I hope you enjoyed this one.
Cheers...Amanda van der Gulik....Excited Life Enthusiast!
It is my opinion that, as parents, we have an obligation to teach our kids about saving and financial matters in general. I believe that teaching our kids about saving and financial matters is just as important as teaching them honesty and integrity, and even sexual matters. Yet, as is the case with sex, many parents are uncomfortable teaching their kids about financial matters.
I believe this is a big reason why we have a savings crisis in America. In the first half of 2005, the national savings rate fell to ZERO, down from a high of over 10% in the early 1980s. By the end of last year, the national saving rate had fallen into negative territory, -0.5% according to the Commerce Department. The Commerce Department calculates the savings rate by taking the difference between after-tax income and all expenditures, including housing, food and clothing.
Every three years, the Federal Reserve conducts an in-depth consumer survey called the Survey of Consumer Finances. These surveys glean lots of data on trends in consumer saving and spending. The latest report for 2004 found that only 40.8% of all households actually save on a regular basis, and in reality, that number may be high. In addition to the negative savings rate, the American Bankers Association reports that the average US household has over $8,000 in credit card debt. Credit card abuse by college students is epidemic.
I could go on with troubling statistics on debt and the lack of savings, but the point should be obvious. If we are going to educate our kids about the importance of saving, we must not only teach them, but we must also practice what we preach. Kids whose parents don't save are not likely to be good savers either."
I found this article on localhs.com and really liked how he spoke to us about kids and money.
I hope you enjoyed this one.
Cheers...Amanda van der Gulik....Excited Life Enthusiast!
Tuesday, April 22, 2008
Why Should We Teach Our Kids About Money?
Why Should We Teach Our Kids About Money?
"Why should we teach our kids about money?
Some people say, "Timmy's so young. I want him to enjoy being happy and innocent. Money is a worry for grown-ups, not kids."
I say, "We're raising a whole generation with 'sucker' stamped on their foreheads because we're not teaching them."Your job as a parent is not just to keep your child happy. You're raising a future grown-up who needs to be able to deal with grown-up matters. If you teach little Timmy how to handle money responsibly, then grown-up Timmy will be better equipped for a richer life. Look at the statistics below:
*19% of Americans between the ages of 18 and 24 declared bankruptcy in 2001. (USA Today, 2001)
*The fastest growing group of bankruptcy filers are those people who are 25 years of age or younger. (Senate Committee on Banking, Housing and Urban Affairs, 2002)
*Over 80% of undergraduates have at least one credit card and nearly 50% of college graduates carry 4 or more credit cards. According to the Department of Education, the average balance carried by these students is more than $3,000. (Senator Chris Dodd, CT)
These statistics show that many children aren't being taught how to handle money. Young people are making mistakes with zeros at the end of them. These mistakes often take years to overcome. Teach your children how to handle money while they are young, and they won't make mistakes later on in life."
As you can see it's vitally important for us to be teaching our children about money now while they are young enough to build good financial habits.
Cheers....Amanda van der Gulik....Excited Life Enthusiast!
"Why should we teach our kids about money?
Some people say, "Timmy's so young. I want him to enjoy being happy and innocent. Money is a worry for grown-ups, not kids."
I say, "We're raising a whole generation with 'sucker' stamped on their foreheads because we're not teaching them."Your job as a parent is not just to keep your child happy. You're raising a future grown-up who needs to be able to deal with grown-up matters. If you teach little Timmy how to handle money responsibly, then grown-up Timmy will be better equipped for a richer life. Look at the statistics below:
*19% of Americans between the ages of 18 and 24 declared bankruptcy in 2001. (USA Today, 2001)
*The fastest growing group of bankruptcy filers are those people who are 25 years of age or younger. (Senate Committee on Banking, Housing and Urban Affairs, 2002)
*Over 80% of undergraduates have at least one credit card and nearly 50% of college graduates carry 4 or more credit cards. According to the Department of Education, the average balance carried by these students is more than $3,000. (Senator Chris Dodd, CT)
These statistics show that many children aren't being taught how to handle money. Young people are making mistakes with zeros at the end of them. These mistakes often take years to overcome. Teach your children how to handle money while they are young, and they won't make mistakes later on in life."
As you can see it's vitally important for us to be teaching our children about money now while they are young enough to build good financial habits.
Cheers....Amanda van der Gulik....Excited Life Enthusiast!
Wednesday, April 16, 2008
Wrigley's Gum Success & the Law of Attraction?
So what do Wrigley's chewing gum and the Law of Attraction from "The Secret" have in common?
William Wrigley Jr.! Yup that's right.
The Wrigley company is the largest gum company in the world and it's founder, William Wrigley, Jr., wrote, 'Whatever success I may have attained I owe, entirely, to the application of ... the Law of Success.' (the Law of Attraction)
So if Wrigley can accomplish such astounding success through the fundamentals of the Law of Attraction then how about you?
Watch my mind movie and be inspired. Then create your own mind movie so you too can accelerate the Law of Attraction for yourself.
If you would like to create your own mind movie then click here or go to http://www.actlikearichkid.com/
The Law of Attraction states that what "the mind can conceive and believe, it will achieve."
In other words, first you need to create your perfect future, then you need to believe it as already being so and then it will manifest itself to be true with time and belief.
I know it all sounds a bit hokey poky but it's incredibly true.
I have used the Law of Attraction for most of my life without even realising it.
Just this past year did I start to consciously make the law of attraction work for me.
I have now seen some of my dreams come to life.
My childhood best friend disappeared without a trace when I was 11 years old. This was a very sad time in my life. I had been searching for her ever since that day she disappeared without any luck. I wanted to know if she was alright, even if she was still alive.
Then after realising the power of consciously using the law of attraction I conceived the idea in my mind that I had found her, then I began to believe that it would absolutely happen to the point that as far as I was concerned I had already found her.
Then just a few weeks ago, my dream became a reality. I found her sister who connected me to my long lost childhood best friend. You can't even begin to imagine the emotions running through my soul. It was absolutely incredible. She was alive, she was happy and healthy. My heart could be at peace. It was incredible.
But most of all it reassured me that the law of attraction really does work. This was only one example of the many upon many other goals that have manifested themselves to me by using the law of attraction but this one meant the most to me and really gave me the ability to completely believe in the process.
There is no harm in using the law of attraction, there is only harm in not using it because it will work no matter what you are thinking. So for example if someone would like to stop smoking then they would need to think and believe thoughts like, "I am so happy and grateful now that I am healthy and my lungs are clear and free. I breathe in fresh clean air."
If on the other hand they say things to themselves like, "I want to stop smoking" then the law of attraction will work against them because the universe only hears "smoking" it doesn't pay attention to the word, "stop" in front of it. So be very careful how you think your thoughts.
As the old saying goes, "Be careful what you wish for, it just may come true."
Cheers.....Amanda van der Gulik.....Excited Life Enthusiast!
Sunday, April 13, 2008
Talking to your kids about money - Retirement Gordon Powers - Sympatico / MSN Finance
Talking to your kids about money - Retirement Gordon Powers - Sympatico / MSN Finance:
"Talking to your kids about money education starts at home - and a child's financial education should start with someone that cares for them the most at very important intervals in their life.
By Gordon Powers
April 05, 2008
Do you bend down to pick up those pennies you see on the sidewalk? I certainly do. And roughly three-quarters of adults say that they would too, according to a Gallup poll done last year.
But when Nuveen Investments asked a group of teenagers what sum they would bother to pick up, 58% said it would take at least a dollar or more. Talk about a generation gap.
Do pennies matter? Not in any real financial sense. But, I'd be disappointed if my kids felt this way -- if only because my wife and I taught them otherwise. Not that we were the only ones talking to them, of course. From early on, children receive mixed messages about money. At home they hear one thing, at school and among their peers, another. Make sure yours is the dominant voice.
Even if you feel your children are too young to understand completely, you need to start talking to them early. Then, you'll be teaching them about money while they still care, not during those rebellious teenage years when your IQ suddenly drops like a stone.
Here's a rough timetable to help get you started."
Click the highlighted title above to read the rest of the report by Gordon Powers.
In his report Gordon goes into age specific details on how to deal with your kids and money.
I don't agree with his stake on giving your child an allowance, nor the exact ages for each step on the financial ladder, but other than that his ideas are great ones to start off with.
I hope you find this report helpful.
I'd love to read your comments on this report in my blog.
Cheers.....Amanda van der Gulik.....Excited Life Enthusiast!
www.TeachingChildrenAboutMoney.com
"Talking to your kids about money education starts at home - and a child's financial education should start with someone that cares for them the most at very important intervals in their life.
By Gordon Powers
April 05, 2008
Do you bend down to pick up those pennies you see on the sidewalk? I certainly do. And roughly three-quarters of adults say that they would too, according to a Gallup poll done last year.
But when Nuveen Investments asked a group of teenagers what sum they would bother to pick up, 58% said it would take at least a dollar or more. Talk about a generation gap.
Do pennies matter? Not in any real financial sense. But, I'd be disappointed if my kids felt this way -- if only because my wife and I taught them otherwise. Not that we were the only ones talking to them, of course. From early on, children receive mixed messages about money. At home they hear one thing, at school and among their peers, another. Make sure yours is the dominant voice.
Even if you feel your children are too young to understand completely, you need to start talking to them early. Then, you'll be teaching them about money while they still care, not during those rebellious teenage years when your IQ suddenly drops like a stone.
Here's a rough timetable to help get you started."
Click the highlighted title above to read the rest of the report by Gordon Powers.
In his report Gordon goes into age specific details on how to deal with your kids and money.
I don't agree with his stake on giving your child an allowance, nor the exact ages for each step on the financial ladder, but other than that his ideas are great ones to start off with.
I hope you find this report helpful.
I'd love to read your comments on this report in my blog.
Cheers.....Amanda van der Gulik.....Excited Life Enthusiast!
www.TeachingChildrenAboutMoney.com
baithak: Child psychology - by Melanie Barwick, Ph.D., C.Psych.
baithak: Child psychology - by Melanie Barwick, Ph.D., C.Psych.:
"When you think of your kids and money, what's the first thing that comes to mind? Okay, yes, they are expensive. What's the second thing? Perhaps your mind turns to allowance and, by extension, how kids learn to earn money, spend it and save it. If your children are older, you may be thinking about how they will eventually earn it when they join the workforce.
Money concepts begin to develop when a certain level of cognitive readiness paves the way for numeracy, learning how to count and recognize denominations of money. As soon as kids are old enough to consciously observe their parents' spending habits, they begin to form similar impressions of the value of money. Essentially, what kids need to learn about saving money, making it grow and spending it wisely begins at home."
I came across this article and I wholeheartedly agree with Dr. Barwich, kids learning about finances and money begins at home. That's where I want to help you. If you have any questions about how to deal with your kids and money then just post your question and I'll be thrilled to answer them for you.
If you child is already interested in earning money but doesn't know where to begin then there's a free ebook you might like to download with 50 Money Making Ideas for Kids.
Cheers.....Amanda van der Gulik......Excited Life Enthusiast!
"When you think of your kids and money, what's the first thing that comes to mind? Okay, yes, they are expensive. What's the second thing? Perhaps your mind turns to allowance and, by extension, how kids learn to earn money, spend it and save it. If your children are older, you may be thinking about how they will eventually earn it when they join the workforce.
Money concepts begin to develop when a certain level of cognitive readiness paves the way for numeracy, learning how to count and recognize denominations of money. As soon as kids are old enough to consciously observe their parents' spending habits, they begin to form similar impressions of the value of money. Essentially, what kids need to learn about saving money, making it grow and spending it wisely begins at home."
I came across this article and I wholeheartedly agree with Dr. Barwich, kids learning about finances and money begins at home. That's where I want to help you. If you have any questions about how to deal with your kids and money then just post your question and I'll be thrilled to answer them for you.
If you child is already interested in earning money but doesn't know where to begin then there's a free ebook you might like to download with 50 Money Making Ideas for Kids.
Cheers.....Amanda van der Gulik......Excited Life Enthusiast!
Saturday, April 12, 2008
Introducing, Leanna, 13 Year Old Kid Entrepreneur:
I am incredibly excited to share with you a real kid entrepreneur.
Her name is Leanna and she has a website where she sells her greatgrandmother's natural haircare. When Leanna was 3 years old her mother decided to use a homemade hair recipe on Leanna's hair. After many years of constantly getting amazed comments about the thickness and length of Leanna's hair, Leanna decided that she needed to bottle this amazing homemade product and offer it to the world.
Have a look at this interview on AMSG "Tomorrow's Newsmakers". It's truely incredible.
Get your own kids to watch and be motivated by this young girls incredible drive to succeed.
She even has her own dad in her employ!
Then check out her website at http://www.leannashair.com/
I intend to continue to bring you new kid entrepreneurs. If you know of any kid entrepreneurs, please add them to my blog for me to check out and give them their due credit.
Kid entrepreneurs rule!
Sunday, April 6, 2008
Create Your Own Mind Movie!
Good afternoon,
I am incredibly excited to share this amazing new tool for making all your dreams come true.
Have you heard about the law of attraction?
Simply stated the law of attraction means that for every thought you send out into the universe you will receive that same thought back to you. Have you ever heard the saying, "be careful what you wish for, it just may come true"? Well, that's how it works in a nut shell.
On the theme of the law of attraction I want to share with you my own personal mind movie.
Very successful people achieve their goals by writing them down and then reading back their goals to themselves on a daily basis. They imagine that they already own what they desire and have already achieved the success that they are going for.
Some of them use vision boards, which I have personally used now for many years, and it's amazing how they come true.
But the best way to make the law of attraction work for you is to have your visual goals and dreams ring an emotional feeling at the same time. The really kicks the law of attraction into gear at full steam. The best way I have found to achieve this fast track to law of attraction success is to use mind movies.
So without further adu, have a look and enjoy.
If you would like to create your own mind movie then click here or go to http://www.actlikearichkid.com/
The idea is to create your own personal dreams mind movie of all the things you would like to achieve and then watch it in the morning when you get up and again at night just before you go to bed. Do this and your dreams will be closer than you can expect!
Success!
Cheers.....Amanda van der Gulik.....Excited Life Enthusiast!
P.S. Let me know if any of you create your own mind movies, I'd love to see them and share them.
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