| Greetings!
Welcome to the July 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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| Teaching Kids Money |
 Beyond-the-Piggy-Bank Webinar: Sarah Cook of Raising CEOKids.com invited me to do a Beyond-the-Piggy-Bank Webinar. It's scheduled for tomorrow, July 8, 6pm PT. So what lies beyond? Click here for additional information and to sign up: FREE Piggy Bank Webinar BizKids! Both our boys, Nathan and Ryan, had the unique opportunity to appear on BizKids, a public TV series where kids teach kids about money and business. Check it out as they discuss the topic of allowances.
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| Teachable Money Moment |
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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 money moment:
So your child wants those stylish boots that "everyone is wearing". Problem is, she hasn't saved enough yet and it would take her forever to accumulate her allowance money before she could purchase the coveted item.
This is the perfect opportunity to come up with a list of Above-and-Beyond jobs that she can do to earn the extra money and be hip and trendy in no time. Working with your child, decide what kinds of age-appropriate jobs would qualify for the list. Examples may include:
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washing the car
- vacuuming the car
- washing the dog
- weeding
- mowing the lawn
- shredding paper
- folding laundry
...the list is endless!
Then come up with the appropriate fees for each job and allow your child to choose from the list according to her interests and monetary needs! Research shows that when we get autonomy over our choices, we are more excited about the work which contributes to the development of intrinsic motivation...
...not to mention that we tend to perform better. It's a win/win!
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| July Connection: Money Messages |
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Have you ever thought about how kids learn to speak a pretty complex language? And when I say 'speak', I mean all the intricacies that go along with it...body language, inflection, nuance, ...in addition to vocabulary and sentence structure. It's a pretty amazing feat and, yet, we all learn how to do it pretty seamlessly and without formal instruction.
Much of it happens indirectly. Our kids are absorbing what we do - it's how they learn to operate in the world. And while absorbing the nuances of spoken language can be quite useful, our kids are also absorbing lots of other messages we may not even know we're sending, good or bad...how we react when something unexpected happens, how we deal with a difficult client (or family member!), how we handle ethical issues such as cheating...
The Money Connection: By the same token, our kids are absorbing our money messages...good or bad. Spend a few moments and reflect on some of the messages you may be sending your kids and think about how your kids may be interpreting them. Ask yourself...
- Do I avoid talking about money to my kids?
- Do I ever say things like money doesn't grow on trees?
- Do I encourage my kids to be thankful for what they have?
- Do I argue about money in front of the kids?
- How do I react when something unexpected and expensive happens?
- Do I value saving money?
- How do I handle a solicitor coming to the front door?
- Are my kids secure that all their needs will be met?
- Am I an impulsive shopper? Do I hoard all my money?
- What do I choose to spend my money on?
- Do I talk more positively or more negatively about money?
Decide on the money messages you want your kids to receive then open up an honest, age-appropriate discussion with them. Conversation is a great way to develop healthy money attitudes in our kids...and ourselves. |
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Kids$ave Blog Vignettes |
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Why read the vignettes? Because the vignettes offer examples of doing money in real life settings. And it's when you can "see" money in action that teaching it takes on a whole new meaning.
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Wishing you continued success as you teach your children to be saving savvy and money smart.
John and Karyn Hodgens
Kidnexions co-founders
Children are apt to live up to what you believe of them. - Lady Bird Johnson
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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