Money Training Begins at Home

I have actually met many parents who are resistant to really teaching their kids about money. Why is that? Some don’t give allowances because they then lose control over what their kids get to buy. Okay, but… how can your kids learn?? Putting your head in the sand about money won’t help your problems or teach your kids. Children need to learn good money management from their parents. Some basic financial concepts taught as early as the preschool years are short-term vs. long-term goals, delayed gratification, value of money and the power of saving. While these sound complicated; they are … Continue reading

The Difference Between Saving and Investing: An Important Distinction for Kids to Learn

You can save or you can invest. It is a distinction that many adults struggle with as a concept. How then can kids understand the difference, and why is it so important? Most kids who are introduced to the concepts of money tend to be conservative. They like to hoard as much of their money as they can and save up for things. That is a great phase that can be utilized by parents, caregivers and teachers to teach the value and the responsibility of money. Unfortunately, most kids do not get any instruction past those initial lessons. Many experts … Continue reading

Should You Pay for Chores?

Parenting experts disagree vehemently on the issue of whether or not children should be paid for chores. Each side strongly believes that they are right, quoting studies and analysis that support their position. With such a polarized debate on the issue, what should parents think? How can they determine whether or not to pay their children for chores or to offer an allowance outright that requires no work conditions on the child’s part? Let us take a look at both sides of the issue. On the one hand, paying a child for chores rather than giving a free and clear … Continue reading

We Finally Found an Adoption Agency

So after we came out of the shock of the business aspect of adoption, and it is a huge business, we finally found the type of agency we were looking for. The agency we used was Homes of Saint Mark located in Houston. We live in Dallas and Houston is about 4 hours away but they did not treat it like a way to make money. Homes of Saint Mark placed infants that were given up, they placed children from CPS, they also matched birth moms who want to give their babies up through private adoption. We thought we were … Continue reading

Get Your Kids Investing

Want to start your children on a good path towards financial freedom? Start teaching them investing skills now. As soon as they are old enough to talk, they can start getting involved with the basics of money. Once they are in grade school, you can begin to teach them the valuable skills of investing. Some tips on just how to teach your kids some investment skills are: 1. Start by explaining what investing is. Not exactly sure yourself? Typically most kids understand saving — where you are putting money aside to buy something later, adding to that money as you … Continue reading

Start Donating Young

To get your kids in the giving spirit, start teaching them to donate at a young age. Kids naturally want it all for themselves, so by teaching them to give to those in need – they also learn a valuable life lesson. The first step is to find a charity or cause that holds special meaning for your child. Who they give to and how much they give isn’t as important as finding value in the process. If your daughter loves animals, consider donating to the local Humane Society. If your son wants to be a firefighter, donate to your … Continue reading

Young Men: Preparing Your Son for Future Responsibilities

It is important to teach to the young men of the church, the importance of accepting responsibility, as they grow older. This should include serving a mission, obtaining a higher education, and providing for a family. The role of a Priesthood holder in the home is that of leader and provider. It is important to teach the young men how to best fulfill these roles. The best way to do this is through example. In many homes the sons will simply be able to follow the examples of their fathers as they grow up. However, not every family in the … Continue reading