| Greetings!
Welcome to the November edition of the Kidnexions Connection. Our goal is to provide you with useful information about kids and money with an emphasis on making connections between what kids learn and their every day lives.
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| Company News |
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KidsSave inTexas: KidsSave is being used in a Community and Future Problem Solvers project being done by Midlothian Independent School District. Their mission statement: To develop sound money sense and positive financial practices for individuals in our community for their future. We look forward to sharing their progress with you.
Raised for Richness: Karyn's upcoming parent primer on teaching kids how to manage money is through the field-testing stage and is on its way to publishing. Stay tuned for more information about this simple, yet effective book.
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| Teachable Moments |
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The best way to teach kids financial literacy is in the context of their everyday lives. Here's this month's teachable moment:
Not only do we need to teach our kids how to save and spend their money wisely, we also need to teach them how to share their money wisely. This holiday season is the perfect opportunity to bring up discussions about helping others and the ways in which that can be done.
If you already donate money to a particular charity or organization, be sure your kids know about it. Discuss why you chose that charity and the ways in which the money will be used.
A great way to get the kids personally involved is to have them choose the type of organization they would like to help. Often it centers around one of their passions, like a love of animals. Research possible organizations with them, making sure you know how the money will be used and how much of your donation actually goes directly to your cause.
To show your support of their chosen organization(s), match them dollar for dollar. Now they can really get excited about sharing because their organization will be receiving even more with your additional contribution.
Of course, donating our time is also a great way to show support. However you do it...time, gifts, or money...instilling a life-long habit of giving back helps create caring and compassionate kids. |
| October Connection: The Other Literacy |
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We all know that literacy, the ability to read and write, is an important life skill. It's so important that we often create an environment at home to reflect this. We start reading to our kids from an early age, years before they know how to read themselves. We surround our kids with all kinds of reading materials from books, to magazines, to newspapers, to grocery lists.
And then, to underscore the importance of reading even more, we read in front of them. Yep, we pick up the newspaper or magazine and absorb the words on the pages while our kids are watching.
When they begin to read on their own, we ask them questions about the plot and characters.
At school, monthly book orders are sent home and assemblies bring in authors who talk about how they write their books. We even reward kids with stickers on classroom charts or refrigerators at home reflecting pages read.
It's hard to grow up in an environment such as this and miss the message that reading and writing is important. The Money Connection: There's another type of literacy which is just as important that isn't quite as integrated into our environment. Financial literacy. Simply stated, financial literacy is the ability to effectively and comfortably deal with issues relating to money. It's important for things such as budgeting, understanding credit, and investing.
We need to be just as passionate about our kids learning financial literacy as we are about teaching them reading and writing literacy. But since financial literacy in the elementary and middle school curriculum is not where it should be, we're going to need to do double-duty at home. Without obsessing about money, this simply means that we need to be aware of opportunities to sneak in a few life lessons.
Here is a starter list of ways to create an environment where learning about money is simply a natural part of your everyday routine, thus underscoring its importance:
- Talk about money from an early age - how it is earned, how there is a limited supply, the importance of making good spending choices, how to be a good consumer, etc.
- Just like a book is the tool we use to teach kids how to read, money is the tool we use to teach kids how to become good money managers. Give your kids money on a regular basis (an allowance is the most popular way) and then have them be responsible for their discretionary spending.
- Create a list of extra jobs kids can do around the house to earn additional money.
- Share your savings goals with your kids and have them create their own.
- Have tweens and teens keep track of their spending in a registry so they get an idea of where their money goes as well as learn how to keep a running balance.
- As an incentive to get your child to save, offer to match their savings dollar for dollar.
- Always look for teachable moments, such as being out shopping, to tie in important money ideas.
Kids learn to become good readers through reading. By the same token, kids learn to be good money managers through doing money. Providing your kids with money to manage and initiating on-going money discussions at home will help build the financial foundation so necessary for success in today's society. |
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KidsSave's Blog Vignettes |
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Karyn Recommends |
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In today's age, it is now critically important that we teach our kids about money. It has an effect on many areas of their life and just a few simple practical tips can help them avoid stressful financial mistakes.
Fortunately, we were able to get our clients the National Youth Financial Educators Council Video Course for Parents - "10 Tips to Raising Financially Savvy Children". This is a product they sell for $29.95 but we have secured licenses for 225 free passes so you can get this course at no cost.
This 54 minute Video and guide will help you talk to your tween or teen about money so they can live a happy, rewarding life & avoid the major problems many people are facing today (debt, credit issues, lack of savings, etc).
Yes, it's a long video but well worth the watch.
2) You will then receive an email with your log in information so
you can access the video and other tools.
Watch the 54 minute video, check out the tools and share what you learned with your kids - It will change their lives!
If you ever said, "I wish somebody taught me about money when I was growing up", now's your chance to give your children the advantage many of us wish we had when we were younger.
This video will give you simple tips that you can share with your
children that can motivate them to save money, build their credit,
avoid debt, start investing young and achieve financial
independency & security. | |
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"You have never really lived until you've done something for somebody else who can never repay you." Unknown
Wishing you continued success as you teach your children to be saving savvy and money smart.
John and Karyn Hodgens
Kidnexions co-founders
Karyn Hodgens has a BA in Child Development, a Masters of Arts in Education with a Specialization in Elementary Mathematics, and a multiple subjects teaching credential. Her passion is designing real-world lessons that resonate with kids and their interests. Karyn is currently teaching kids how to prepare for their financial future in addition to writing about kids and money issues. Contact Karyn at karyn@kidnexions.com
John Hodgens has a BS in Electrical Engineering. He is currently a software engineer committed to designing software applications that help make teaching science and math concepts easier. Contact John at john@kidnexions.com |
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| Celebrating Success |
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Let's celebrate the success of kids who achieve their personal financial goals!
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| Order KidsSave |
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| Our Blog |
Join us on our blog where we will be sharing stories about kids and their journey along the path to becoming saving savvy and money smart. |
| FREE Tools |
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Free tools to help teach kids about money. |
Join our list and recieve a copy of 8 Steps to Putting Your Kids in Charge of Their Financial Futures
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