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Budgeting Blunders – Why bailouts (for kids) are bad

One word that we got to hear way too much of back in 2009 was “Bailout.”  Banks, investment houses, auto manufacturers – it seemed like they were all either lining up for a bailout, or were having a bailout forced on them, by the U.S. government.  Are you following that same bad example in your house?  When your kids come to you with money problems, do you respond with a checkbook, or with a hug? …

Punishment-Free Parenting: When It Works

There was recently a brief segment on NBC’s Today Show, where The Experts commented on the “Punishment-Free Parenting” style adopted by Will Smith  in raising his children.  The panel didn’t agree with this philosophy one bit, but I’d like to throw this into a different light: The core philosophy around our financial education method as outlined in our book, as well as our core parenting strategy, follows a punishment-free path.  This is not to say …

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Kids and Money Games – Teaching Kids About Money

Teaching kids about money doesn’t have to be boring or serious – you can learn a lot from a good game every now and then! Over the years we’ve all played and enjoyed the classics in money math games: Monopoly: great for learning to counting money and make change, but not a really good choice for financial literacy or learning how to manage money The Game of Life: Like monopoly, there’s a lot of counting …

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Kids Managing Money: Getting Started with Share Save Spend

When you’re starting to talk about money with your kids, the place place to start, in my opinion, is with the Share Save Spend philosophy. Look a bit around the ‘net and you’ll find references to it everywhere – I’m not sure if it was Nathan Dungan who came up with it first, or Dave Ramsey, or ThreeJars.com, or Elmo from Sesame Street.  It doesn’t really matter, though, because the concept is easy enough for …