Kids and Money Challenge Our Desire to be Good Parents!

The concept of kids and money can be a challenging one.

My friend, Martyne, had her son late in life. She was 41when Stephen was born. She had waited a long time to become a mother. She only wanted a son. That’s another story! ;o) And she wanted to be the very best mother she could possibly become.

Martyne worried about everything! Initially, she worried about giving birth. “I’ll be the first mommy that keeps her baby in her belly forever!” she groaned. However, she did give birth and out popped her son. That, too, is another story! ;o)

We spoke a lot about raising children. What were the important challenges we as parents were going to face to help our kids grow up? We both agreed that good money lessons learned early in life avoided creating bad money habits later on in life. Kids and money is an important concept. Imagine wasting precious time to unlearn bad habits and then learn good ones! ;o)

When to begin? Where to begin? Those are good questions. I have good answers for them too. ;o)

Kids and money begin at birth. That’s right, I kid you not. When your precious child is born, it is a perfect time to open a savings account for him or her. Deposit those birthday and holiday checks. Start saving for that all important college education now. Imagine your child’s excitement and watch as your child’s self-esteem grows.

Money doesn’t fall out of the sky! Money needs to be earned, saved, invested, donated and spent wisely. Kids and money are facts of life. Your kids will be given money and will earn money. Your kids will donate money and invest money. Lack of money is a tremendous stress on our lives and is the number one reason in the USA why couples divorce today! It’s not just learning about dollars and cents. Money is a mind set and creates habits. A child who has money feels good inside. Feeling good inside strengthens a child’s self-esteem.

Where to begin with kids and money? Why all you need are six little jars! ;o) Click here to watch the free video kids and money lesson, “The 6 Magical Piggy Banks.” This lesson will show how your child can manage his or her money even at a very young age.

Martyne really wanted to focus on finding the best way to teach her son, Stephen, about money. She knew how important it was for children to learn the fundamentals of sound financial strategies early in life. She wants to raise her son to be a well-prepared, empowered, money savvy young adult.

Kids and money is a very worthwhile concept for sure! Here’s to empowering our kids to be clever with their money and have the positive self-esteem that kids and money can give them and that is needed to live happy fulfilling lives as adults! ;o)

Here’s to empowering our kids about money! ;o)

Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)

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2 Responses to Kids and Money Challenge Our Desire to be Good Parents!

  1. Donna M says:

    How do you manage after seperation? I want to teach my daughter to learn to manage money…(I am learning to manage mine better slowly) . But her father uses money (amongst other tactics) to keep her hooked into needing him. He won’t give her regular pocket money and at times will give her anything from nothing to $50. She is 9 and when with me we consider purchases (she has heaps of JUNK that has no value to her) but if she is with her Dad the money is spent. She won’t save it. If she goes to his place the money gets spent unwisely. I jsut don’t know how to do this. It’s been 10 months now and I don’t see things improving.

    • Amanda says:

      Hi Donna,

      That’s a very hard position to be in. ;o(

      The best advice I can give you is to let her know that her money at your place stays at your place until you both manage it together. The money she has at his place gets managed there. Maybe then she will learn to see the difference. That the money at his place comes and goes without thought and simply disappears quickly on things she doesn’t truly appreciate.

      Help her find ways that she can earn her own money when she is with you. Give her some jobs to do that are outside the ‘normal’ kids chores. So not for things like washing the dishes or emptying the garbage, but maybe for helping you on one of your own chores that you wouldn’t mind her taking over, like doing the gardening or the laundry, etc.

      Then have her set up her own 6 magic piggy banks, (have your shown her my cartoon on this yet? I’ll put the link for it below for you), and be her role model. When she sees over time that by setting a goal, working hard for it, then earning the goal, she will be really proud of herself for her efforts and her persistence.

      I know this must be extremely difficult especially since there is so much raw pain in the air since it has not yet been very long since the separation.

      So trust your daughter, you are her mother, you have influence over her. Be patient and persistent and don’t give into the ‘but daddy would give me this’ game with her.

      He doesn’t need to give her a regular allowance, actually this could be in her best interest. If she learns that she can’t rely on a steady income from him then she’ll be more encouraged to become more independent and want to take control of her own income by looking for creative ways she can earn her own money. This could actually be a blessing in disguise.

      I wish you well. Please keep on doing what you are doing, which is sincerely taking an active interest in your daughter’s financial future. The fact that you are here with us, shows me that you are an action taker, a problem solver, that you are not going to just let things happen as they happen but that you are committed to taking an active role.

      Read books, and play games together that teach money skills, like “Monopoly”, “Cashflow for Kids” and “Escape the Rat Race”, etc. to help her build a healthy wealth mentality.

      And if you’re not already a member, then take a look at my course, “Teaching Children About Money” Homestudy course. I have a ton of tools that you can use to help your daughter and I’m in the process of upgrading it so it’s all step-by-step.

      I hope this has helped. Keep us up to date on how it goes. Okay?

      All my love,

      Cheers…Amanda ;o)

      P.S. Oh here’s the link to the cartoon I made, “The 6 Magical Piggy Banks”, hope she enjoys it:

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