Nine Ways to Teach Kids That Money Doesn't Grow on Trees

"(Especially Right Now!)

With inflation on the rise (gas prices, grocery bills, health insurance premiums, etc.) and many companies being more conservative, more American families are feeling squeezed. So if you're feeling guilty because you can't buy your child that video game system he desperately wants or send him to that trendy summer camp, Eric Tyson has one word for you. Don't. In fact, he says, now is the perfect time to teach your kids some valuable financial lessons.

"Kids are surprisingly aware of what's going on in the world," says Tyson, author of the new book Let's Get Real About Money! Profit from the Habits of the Best Personal Finance Managers. "And if they don't know that times are a little bit tough and Mom & Dad are having to watch their spending, it's time to tell them. Sheltering kids from financial realities does them no favors."

Indeed, the opposite is true, says Tyson. A good grasp of personal finance is one of the most valuable life skills a person can have. And while previous generations may have been raised with the constant admonishment that "money doesn't grow on trees!," too many of today's parents neglect that lesson. It's time to change that-and the economic slowdown we're in now provides a great incentive for doing so.

"In many ways, a slower economy can be a blessing in disguise," admits Tyson. "It leads families to make a budget and stick to it. It forces them to be conscious about how they handle money. That's good for kids. It shows them how the world is supposed to work."

To read more of this article click here.

Cheers...Amanda van der Gulik...Excited Life Enthusiast!

How Can You Avoid Spoiling Your Kids?

Is your kid a spoiled brat?

"Instead of an iPod nano, give your kids the tools they need to be financially independent adults.

October 6, 2005: 11:33 AM EDT
By Jessica Seid, CNN/Money staff writer

NEW YORK (CNN/Money) - Last year you caved and bought your kid an iPod, now they want a nano. Where does it end?

"Just say no," said Janet Bodnar, author of "Raising Money Smart Kids"

Many parents struggle with not buying their children what they desire when they can afford to do so. But "it has nothing to do with whether you can afford it," warned Neale Godfrey, author of "Money Still Doesn't Grow on Trees." "It has to do with the values you want to raise the kids with."

Let your child in on your spending decisions and convey the reasons behind the choices that you are making. Explain that "we are saving money for a vacation or something else," Bodnar said, who believes the biggest problem parents have is not talking to their kids about money.

Here are a few other suggestions to keep your kid from becoming a brat.

Give them an early start

Starting when your kids are young, give them a simple lesson in finances. "Explain to them that the bank is a big piggy bank for Mom and Dad," Bodnar said, make sure they realize that the money you have in the bank is not limitless, but only as much as you have put in.

Even as early as three years old, your children begin to understand that money is the medium of exchange, which means that's when their financial education should start, according to Godfrey.

"It's easier if you start them at three than at 18," she said. But if you are already faced with disillusioned teens, it's not too late to teach them money-smart lessons."

This is an amazing article I just found through Google Search that has an incredible amount of practical and extremely effective information for parents on how to make sure that you don't end up with a spoiled dependent child. Click here to read more of the article with all of their tips on how to make sure you don't end up with a spoiled child.

Cheers....Amanda van der Gulik....Excited Life Enthusiast!

Kids Business Ideas - Highly Recommended eBook

Hello Parents,

I have just come across an amazing resource guide with 83 Ways for Your Child to Start Earning Money Right Away! Similar to my own "50 Money Making Ideas for Kids" ebook, this "Kids Business Ideas - Money Making Inspiration For Kids And The Parents Who Love Them" ebook is a must read for kids who would like to find some ideas for ways that they can earn money during the summer and beyond.

Hope you enjoy it and if you have any feedback on the ebook please do let me know so I can publish your thoughts on the book and let us know how the ideas helped your child.

Cheer....Amanda van der Gulik....Excited Life Enthusiast!

TEACH YOUR KIDS ABOUT MONEY

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

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.

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!

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!