We’re halfway through January and 2014 is already speeding by. I’ve been busy putting the finishing touches on my second children’s book, and it should be at the printers by the end of the month. And just in case you’re curious (and I hope you are!), this book is yellow, not pink. š
I’ll be sharing more about the book in the upcoming months, but I’m really happy with how it turned out and the continuation of teaching kids about money. This time we focus more on earning money, which helps kids understand the value of money.
As I shared in my post, A Good Life Versus an Entitled One: The Unintended Consequences, one common mistake we make is giving kids money without a reason. Some call it an allowance; I call it a mistake. Just like money needs a purpose (goals), money should be given for a reason, such as completing additional chores or tied to a specific occasion like a birthday. “I love you” presents are fine but should be an unexpected treat, not an every day or regular occurrence. Do not create the expectation you will give your kids money every time they ask. They need to earn money, otherwise they will eventually treat you like an ATM.
Another week with a ton of great posts. Here are a few of my favorites. Enjoy!
Matt from Mom and Dad Money is known for his thorough and detailed posts, and he has a doozy of one on How Much Life Insurance Do You Need? If life insurance is on your to-do list for 2014, this is the post for you.
Jacob over at Cash Cow Couple asked Are You a Mindless Accumulator? He shared findings from a study researching our instinct to accumulate more than we can consume. It certainly makes you stop and evaluate your own situation and goals.
Hayley at Disease Called Debt shared Why Ignorance is Definitely Not Bliss When It Comes to Debt. Debt is a seductive beast that lures us in with its false promises of freedom through spending money we don’t have. Until one day we realize we have been lied to and now scramble to undo our mistakes. Hayley is choosing a debt-free life with true freedom and choices.
Anthony from Thrifty Dad had some More Ways to Save Money on Groceries. Food is one the areas most families want to reduce costs. Anthony has some great ideas that can help you put some money back in your pocket while still eating well.
DC at Young Adult Money had an excellent series on 15 Ways to Improve Your Finances in the New Year. DC shared some easy tips to implement that can really make a difference. Okay, technically this series ran last week but my blog; my rules—right? And maybe I meant to mention it last week but forgot. š
And I’m going to end with my friend, Mackenzie, from The Random Path. She does an amazing job capturing the emotions behind debt in her post, A Smile I Don’t Recognize. I have never meet Mackenzie, but if I do get the chance to meet her, I know her smile will be beautiful and real.
Have a great weekend everyone!
Image courtesy of www.freedigitalphotos.net.
The Heavy Purse Store is now open! My new downloadable Money Club Workbooks are now on sale. Each workbook provides five targeted lessons to help you raise Financially Confident Kids. Please check them out in The Heavy Purse Store.
SHANNON RYAN, CFPĀ®
Thank you so much for the mention, you have made my day and I am so thankful for your support, Shannon! XO
Have a fun weekend!
Also, thanks for the Blog Round Up. They're great articles and this regular post makes it easy to stay on top of personal finance. We particularly found the Cash Cow Couples article on being a mindless accumulator insightful.