How We Raised 401k Kids

In the mid-80s, we were a comfortable family living on one income.  We had three children, ages 7 & 8 who happily attended our local school and life was good.   Then, like so many others, Bret lost his job when the small start up he was working for went belly up. Luckily, we were protected from serious financial ruin. …

TracieHow We Raised 401k Kids

7 Ways to Raise Kids with Money Management Skills

Kids these days are growing in tough financial times, and unless parents are proactive, their kids are not going to learn the money management skills needed to avoid making the same financial mistakes.  We’ve identified 7 ways to teach our children not to make the same mistakes we did: Start teaching early Kids are ready to learn about the basics …

Bret7 Ways to Raise Kids with Money Management Skills

Teaching Kids About Money: Allowance – What We’re Reading Now

Talk about an incendiary headline: “Expert: Paying Kids Allowance Is ‘Cruelty’” And this is from Time Magazine, no less! Well, dig a little deeper and you get to the real story: some parents are using the unconditional allowance as a way to avoid having discussions with their kids about money.  Among parents who had good financial discipline, and talked to …

BretTeaching Kids About Money: Allowance – What We’re Reading Now

Teaching Kids About Money: Saying NO – What We’re Reading Now

What’s one of the worst things you can say to your kids about money?  According to Prosperity4Kids, that would be, “No.”  For example, they write: Never say… what do you think money grows on trees. Never say… money is hard to come by. Never say… money goes out faster than it comes in. Never say… We don’t have enough money. Instead say… It’s not …

BretTeaching Kids About Money: Saying NO – What We’re Reading Now

Managing Kids’ Money on Vacation

So you’re an awesome parent, you’ve saved up enough money to take the family on vacation, and your kids have saved up money of their own as well.  How will you manage the kids’ money on vacation? There’s something really enjoyable about watching a kid browse through a gift store, and buy something he wants with his own hard-earned money. …

BretManaging Kids’ Money on Vacation

Teaching Kids About Money: Goals – What We’re Reading Now

Cherly Lock writes: “If you thought the easiest way to teach your kids about money was to have them write down their goals and stay on a budget, you’re a genius.” This study (among college freshmen) revealed that very simple (almost obvious) habits like writing down goals and tracking spending are mutually-reinforcing, and that both lead to more confidence and …

BretTeaching Kids About Money: Goals – What We’re Reading Now

Teaching Kids About Money: Games – What We’re Reading Today

JA Finance Park is an online game oriented at teaching kids more financially savvy. The game, used in 468 schools nationwide, has been part of the curriculum at Maryland schools since 2010, after the financial crisis had made business leaders aware of the widespread ignorance about how mortgages, credit cards and other basic financial instruments work. For more, read CNBC’s …

BretTeaching Kids About Money: Games – What We’re Reading Today

When the Allowance Becomes a Tool of War: Allowance on the Dark Side

For all of the benefits of an allowance, in teaching kids how to manage money, budget, and save – there is a dark side as well: the allowance can become a tool in your war chest against child insurrection. I’m not happy we’ve come to this place. It’s a dark place. Somehow, our household has descended into a true democracy… …

BretWhen the Allowance Becomes a Tool of War: Allowance on the Dark Side

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