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After the Shower: How to Save Money with a Young Baby

January 6, 2018 | Leave a Comment

If it weren’t for baby showers, many new parents would have a difficult time making ends meet. But no matter how many gifts you receive for your new bundle of joy, there are countless other expenses that come up. So how do you go about saving money with a young baby? [Read more…]

Jackie Cohen
Jackie Cohen

Jackie Cohen is an award winning financial journalist turned turned financial advisor obsessed with climate change risk, data and business. Jackie holds a B.A. Degree from Macalester College and an M.A. in English from Claremont Graduate University.

www.jackiecohen.xyz

Filed Under: Money and Finances Tagged With: babies, Breastfeeding, clothing, Diapers, Newborns, Savings

Teaching Children About Money

October 22, 2010 | Leave a Comment

kids and moneyTeaching our children about money may sound easy to do but many times it is not. As our children get older they will begin to understand more so don’t give up and think your children will always think money just appears.

When children are about 5-6 years old they seem to love collecting coins. This is a great time to start the “piggy bank” or “money collection”. As they get a bit older they begin to understand that each coin has a different value. And when theses coins are added up it is enough to buy something that they have been wanting.

So how do we as parents begin to teach them the value of money and how to save? This is not an easy task at times but it is a very important lesson. Teaching our children to save for a certain item not only teaches them self discipline but also allow them to set goals.

Allowances and Chores

In many households the parents reward for chores that are completed by giving the child an allowance. By earning the money the child feels good about the accomplishment and then is able to save the money earned to buy something.

If the child wants something of a larger value the child will then have to save for it. This may mean more than a week worth of chores. And be warned, there are those that do not want to wait and will asked to be paid ahead of time. What we tell our children is that when a job or chore has been completed that is when they will receive the allowance. We do not pay for chores that have not been completed yet. By doing this we are teaching the child that things have to be earned. There is something about actually earning what they have bought that makes the child seem much happier with the item when they are finally able to buy it.

Saving Money

The next lesson is teaching about saving money. How much is the right amount to save? This is up to the individual parents. Some teach their children to save more while others just have their children put away a small amount to get the hang of saving up money.

When children get a bit older and have small jobs they are then able to set bigger goals. As they get older the “toys” also become more expensive. What was once a small truck or doll now may become a cell phone or video game. We as parents know just how expensive the “toys” can get.

It takes time to teach our children about money. With time and patience they will be saving money as well as setting goals for items that they want.

Do you have any ideas on teaching our children about money that you have used or are planning to use?

Brian
Brian

Brian is the founder of Kids Ain’t Cheap and is now sharing his journey through parenthood.

 
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Filed Under: Education, Money and Finances, Parenting Tagged With: Allowance, chores, money, Savings

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Basic Principles Of Good Parenting

Here some basic principles for good parenting:

  1. What You Do Matters: Your kids are watching you. So, be purposeful about what you want to accomplish.
  2. You Can’t be Too Loving: Don’t replace love with material possessions, lowered expectations or leniency.
  3. Be Involved Your Kids Life: Arrange your priorities to focus on what your kid’s needs. Be there mentally and physically.
  4. Adapt Your Parenting: Children grow quickly, so keep pace with your child’s development.
  5. Establish and Set Rules: The rules you set for children will establish the rules they set for themselves later.  Avoid harsh discipline and be consistent.
  6. Explain Your Decisions: What is obvious to you may not be evident to your child. They don’t have the experience you do.
  7. Be Respectful To Your Child: How you treat your child is how they will treat others.  Be polite, respectful and make an effort to pay attention.
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