Weekly Roundup

Blog Roundup: Week of August 12, 2013

blog roundup

MSN Money asked, Did Your State Flunk Personal Finance? in a recent article. And sadly, the answer is yes for me. California was one of the 11 states to receive an “F”. It continues to sadden me to see how financially illiterate our children are and scares me to know they will soon be navigating the financial world on their own.

The question I am frequently asked is when should parents start start talking to kids about money? The answer is right now. You should start talking to them about money today.

I started talking to my girls when they were around three years old. Sometimes I receive pushback from parents who argue their kids too young to understand the subject matter. And they are right—young children won’t fully comprehend everything you say, but they pick up more than you think they do.

They are particularly sensitive to your emotions. And money is emotional. So whether you’ve been intentionally teaching them or not, young children have already begun forming beliefs around money. Bring your children into the fold now and help them develop a healthy relationship with money, so when it is time for them to head out into the world, they are equipped with the tools to thrive.

A Few Good Reads

I want to thank Frugal Rules, Mom and Dad Money, Sense and Sensibility, Budget and the Beach, The Frugal Farmer, Luke 1428 and Stacking Benjamins for mentioning The Heavy Purse. I appreciate your support! If I missed you, please let me know.

Now onto some of my favorite posts from this week. Enjoy!

Sicorra at Tackling Our Debt shared 5 Dangerous Money Mistakes. These are dangerous mistakes and very common ones. Be sure you’re not making them too.

John at Frugal Rules asked What’s a Favorite Thing Money Has Allowed You to Do?. I believe money is meant to be enjoyed responsibly, and like John, I use my money to create memories too.

Laurie from the Frugal Farmer had a great post on How To Teach Your Kids about Money on Economag. Great tips, especially teaching your kids that Mom and Dad are not money trees or ATMs. Sadly, I see this all the time.

DC at Young Adult Money highlighted The Dangers of Making Money Your Top Priority. There is a balance between being money savvy and money obsessed. I prefer to fall on the side of being savvy and making smart choices with my money.

Kerry at Breadwinning Mama decided to take the high-road (and right road) in Seeking an Answer in the Mommy Wars Media – Not I. It doesn’t matter to me whether you’re a working mom or dad or a stay at home mom or dad. We should all be united in our common goal to do what’s best for our kids.

Well, that’s a wrap! I hope everyone has a great weekend!

Shannon

The Heavy Purse Store is now open! My new downloadable Money Club Workbooks—based on age or level of expertise—are now on sale. Each workbook provides five targeted lessons to help you grow Money Smart Kids. Please check them out in The Heavy Purse Store.

August 16, 2013  •  24 Comments  •  Weekly Roundup

Leave a Comment

Comments

  1. Friday, August 16th, 2013
    Thanks so much for mentioning my post! I really appreciate it. Hope you have a great weekend!
    • Friday, August 16th, 2013
      You're welcome, DC! You have a great weekend too!
  2. Friday, August 16th, 2013
    I probably started talking to my daughter about money when she was three and she totally understands. Hope you have a great weekend!
    • Friday, August 16th, 2013
      That's great, Holly! I wish more parents did. You have a great weekend too!
  3. Friday, August 16th, 2013
    Thanks for the mention Shannon, I really appreciate it! We started at around 3 for ours kids and they don't get it right away, but they do get more than we give them credit for. It's worth it, for many reasons, but when you see them starting to make connections it really shows you that you're doing the right and loving thing.
    • Friday, August 16th, 2013
      You're welcome, John. They do catch on quickly and sometimes to the things you'd least expect. Plus, I think it's also equally good practice for the parents. :) Enjoy your weekend!
  4. Friday, August 16th, 2013
    Thanks very much for the include Shannon and for all of your wonderful on-going support.
    Have a great weekend my friend!! :-)
    • Friday, August 16th, 2013
      You're very welcome, Sicorra! Thank YOU for all of your support too. Have a fantastic weekend!
  5. Friday, August 16th, 2013
    Geez Cali got an F!? We need to to something about that Shannon! :) Hope you have a great weekend!
    • Friday, August 16th, 2013
      I can't say I was shocked, but it's a bit sobering to see a "F". We do have our work cut out for us! You have a great weekend too!
  6. Friday, August 16th, 2013
    Woohoo, my state got an "A". :)
    • Friday, August 16th, 2013
      Lucky you! That was the one nice thing to see that were some states that did well. Proof, I guess, that it can be done! Have a great weekend!
  7. Friday, August 16th, 2013
    I'm working on a post I'm writing for another website about teaching kids about money. I think we should teach them as soon as we can. I also agree that kids will learn at different stages. They may not comprehend everything at a certain age but as you see they do you can introduce more. It's all a part of education. Have a great weekend.
    • Friday, August 16th, 2013
      Absolutely, Mr. CBB. We don't start with calculus in school; same principle here. It's an ongoing process. Look forward to reading your post. You have a great weekend too!
  8. Friday, August 16th, 2013
    You're pretty much my role model for teaching my kids about money. I completely agree that they're able to understand much more than we sometimes think from an early age. Kids are pretty smart. And we really don't do them any favors by assuming otherwise.
    • Friday, August 16th, 2013
      Thank you, Matt. You made my day!! You're going to be a fabulous financial role model to your kids too. :) Kids are smart and observant. Parents who want the best for the kids have to include financial literacy into that equation. You have a great weekend!
  9. Corina Ramos
    Friday, August 16th, 2013
    Hi Shannon,

    My grandson is only a year old but I've already told her to include teaching him about money as she starts to teach him things like manners and tying his shoe :).

    You've got a great list of posts to read. I read Sicorra's and it was great. I'll have to check out these other great bloggers you've shared.

    Have a great weekend!
    • Saturday, August 17th, 2013
      Good for you, Corina! Financial literacy is just as important as learning good manners and his ABCs. :) You have a great weekend too!
  10. Friday, August 16th, 2013
    That's disheartening to hear that Cali is flunking, though sadly not surprised - I have high school teacher friends and some of their stories are kind of sad. I honestly would not have thought to teach kids about money so young, but your approach makes sense since the learning process is incremental, occurs on a daily basis, and evolves to a greater sense of understanding over time. Have a nice weekend, Shannon! :)
    • Saturday, August 17th, 2013
      You're absolutely right, Anna. Learning is incremental. When we started it was very simple and in many ways, it was more for us than it was for them. Watching how we spoke about money in front of them, etc. Now they are starting to implement the lessons and it always amazes me how much they understand.
  11. Saturday, August 17th, 2013
    Ugh, my state got a "D". :-(. So thankful that our kids will know better. Have a great weekend, Shannon, and thanks so much for the mentions.
    • Saturday, August 17th, 2013
      Our kids will know better, which is the great news. It's disheartening to see these results but at the same time, I am also glad that it's started to get people's attention. It's been a silent epidemic for far too long. You have a great weekend!
  12. Sunday, August 18th, 2013
    I remember learning about money at a young age. I had the common child misconception that if you didn't have the money you could just write a check or use the credit card. It was good to learn that lesson as a child rather than the hard way.
    • Sunday, August 18th, 2013
      Credit cards can be really confusing to kids. They think it's free money, just like ATMs. They don't understand that Mom and Dad are still paying for everything they buy. There are many things we do as adults that we don't think twice about but without explanation, can send the wrong message to kids.
Shannon Ryan SHANNON RYAN, CFP®
  • Meet Shannon

    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan
Facebook Twitter YouTube