Comments on: Children of the Recession: How to Insulate Kids From Financial Fears http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/ Money Saving Insights: Coupons, Smart Spending and Promotional Codes Mon, 13 Feb 2012 05:38:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Eric Phillips http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43893 Eric Phillips Tue, 03 Aug 2010 01:51:24 +0000 http://frugaldad.com/?p=5747#comment-43893 Wow, I'm making more mistakes with my kids than I thought. Thank God, they are still young and I can make changes in how my wife and I discuss our finances. Thanks for the suggestions. Wow, I’m making more mistakes with my kids than I thought. Thank God, they are still young and I can make changes in how my wife and I discuss our finances. Thanks for the suggestions.

]]> By: LorMet Credit Union http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43720 LorMet Credit Union Mon, 26 Jul 2010 18:04:20 +0000 http://frugaldad.com/?p=5747#comment-43720 Terrific post! Good money habits start early, so why not encourage your children to be fiscally sound at a young age? At LorMet Credit Union, we encourage parents to teach their children to be responsible with money and still let them enjoy being kids. If you give them an allowance or help them set-up a savings account at a local credit union you can teach them some important lessons in life. We have wrote some articles on encouraging thrift in the young. You might be interested in checking them out. http://bit.ly/5twnkr Terrific post! Good money habits start early, so why not encourage your children to be fiscally sound at a young age? At LorMet Credit Union, we encourage parents to teach their children to be responsible with money and still let them enjoy being kids. If you give them an allowance or help them set-up a savings account at a local credit union you can teach them some important lessons in life.

We have wrote some articles on encouraging thrift in the young. You might be interested in checking them out. http://bit.ly/5twnkr

]]> By: Personal Finance Blog Round Up: Is It Time To Quit Your Day Job? http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43703 Personal Finance Blog Round Up: Is It Time To Quit Your Day Job? Mon, 26 Jul 2010 03:44:21 +0000 http://frugaldad.com/?p=5747#comment-43703 [...] the grocery store. Why not grow your own? This is a good tutorial on how to do that. [Bargaineering]How To Insulate Kids From Financial Fears. One of the most important things parents should do for their kids is give them a sense of [...] [...] the grocery store. Why not grow your own? This is a good tutorial on how to do that. [Bargaineering]How To Insulate Kids From Financial Fears. One of the most important things parents should do for their kids is give them a sense of [...]

]]> By: The Best Money Blog http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43671 The Best Money Blog Fri, 23 Jul 2010 17:08:08 +0000 http://frugaldad.com/?p=5747#comment-43671 I wrote an article referring to this one where you talk about teaching kids to save for opportunities rather than save for emergencies. You might be interested in checking it out. I wrote an article referring to this one where you talk about teaching kids to save for opportunities rather than save for emergencies. You might be interested in checking it out.

]]> By: John Lanza http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43630 John Lanza Thu, 22 Jul 2010 14:38:56 +0000 http://frugaldad.com/?p=5747#comment-43630 Jason, As usual, a terrific post. I'm so glad you mentioned the importance of teaching kids about money from a young age. Organizations like the PTA, Credit Union National Association and the National Endowment for Financial Education all advocate starting BEFORE they reach kindergarten with basic stuff like understanding the difference between needs and wants, making smart money choices, starting an allowance to teach them to manage money and setting goals. I was just talking to a colleague who is also passionate about youth financial literacy and she mentioned that she is shocked at how many parents don't give their kids an allowance. It's so easy to do and it really helps empower kids. I think it's just as important as learning math or reading. For a little more on youth financial literacy, check out my recent guest post on Wisebread, http://bit.ly/c0Pq9E, and let me know what you think. Jason,

As usual, a terrific post. I’m so glad you mentioned the importance of teaching kids about money from a young age. Organizations like the PTA, Credit Union National Association and the National Endowment for Financial Education all advocate starting BEFORE they reach kindergarten with basic stuff like understanding the difference between needs and wants, making smart money choices, starting an allowance to teach them to manage money and setting goals. I was just talking to a colleague who is also passionate about youth financial literacy and she mentioned that she is shocked at how many parents don’t give their kids an allowance. It’s so easy to do and it really helps empower kids. I think it’s just as important as learning math or reading.

For a little more on youth financial literacy, check out my recent guest post on Wisebread, http://bit.ly/c0Pq9E, and let me know what you think.

]]> By: Ella http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43626 Ella Thu, 22 Jul 2010 11:58:10 +0000 http://frugaldad.com/?p=5747#comment-43626 I'm with you - except I do think kids need to hear "we can't afford it" when it comes to luxuries. Certainly they need to feel secure that their basic needs will be met - food, clothing, shelter, transportation. But beyond that, they need to understand that money is finite and that we have to make choices about the "extras" we purchase. For my kids at their age - it's understanding that their birthday presents are not going to pile up as high as Pikes Peak. Later, it might by why we choose to get them a clunker instead of a racy new sports car. If they never get that lesson - that you have to pick and choose - you're doing them a huge disservice and teaching them that they can have everything. They'll grow up and start spending their own money (and then borrowing like crazy) to feed that misconception. I’m with you – except I do think kids need to hear “we can’t afford it” when it comes to luxuries. Certainly they need to feel secure that their basic needs will be met – food, clothing, shelter, transportation. But beyond that, they need to understand that money is finite and that we have to make choices about the “extras” we purchase. For my kids at their age – it’s understanding that their birthday presents are not going to pile up as high as Pikes Peak. Later, it might by why we choose to get them a clunker instead of a racy new sports car.

If they never get that lesson – that you have to pick and choose – you’re doing them a huge disservice and teaching them that they can have everything. They’ll grow up and start spending their own money (and then borrowing like crazy) to feed that misconception.

]]> By: Irv Thomas http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43615 Irv Thomas Thu, 22 Jul 2010 00:44:07 +0000 http://frugaldad.com/?p=5747#comment-43615 ...and thinking that to be much more important than discovering who they are and what it is they want to do in life. I call that short-changing your kids with fear and insecurity. …and thinking that to be much more important than discovering who they are and what it is they want to do in life. I call that short-changing your kids with fear and insecurity.

]]> By: Irv Thomas http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43614 Irv Thomas Thu, 22 Jul 2010 00:37:26 +0000 http://frugaldad.com/?p=5747#comment-43614 The article is GOOD ADVICE! I grew up during the big 1930s Depression and though my family was hit very hard by it (when I was 6) and our life changed radically at that point, my folks absolutely never brought finances into family discussion. A kid is a lot more affected by the way his parents handle something (i.e., cooperatively or antagonistically) than by the financial level they are living at . . . to a kid, life just is what it is; but security is generated by the social atmosphere of his family life. The article is GOOD ADVICE! I grew up during the big 1930s Depression and though my family was hit very hard by it (when I was 6) and our life changed radically at that point, my folks absolutely never brought finances into family discussion. A kid is a lot more affected by the way his parents handle something (i.e., cooperatively or antagonistically) than by the financial level they are living at . . . to a kid, life just is what it is; but security is generated by the social atmosphere of his family life.

]]> By: AnnJo http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43612 AnnJo Thu, 22 Jul 2010 00:36:22 +0000 http://frugaldad.com/?p=5747#comment-43612 I grew up in a family that cycled between flush (steak) and broke (rice & beans), but also on a steady diet of the old children's classics that tended to prepare one for reverses of fortune, and also gave some sense of perspective on what real privation is like. Depending on your children's ages, exposing them to some of that literature may be an easy way to lead into conversations about money, wealth, poverty, hardship, etc. Examples: Heidi, Swiss Family Robinson, The Egg and I, Oliver Twist, the Little House on the Prairie series, the Grimm Bros fairy tales. I learned to read on Heidi, and ever after considered myself tolerably well-off as long as I had bread and cheese and didn't have to milk my own goat! I grew up in a family that cycled between flush (steak) and broke (rice & beans), but also on a steady diet of the old children’s classics that tended to prepare one for reverses of fortune, and also gave some sense of perspective on what real privation is like. Depending on your children’s ages, exposing them to some of that literature may be an easy way to lead into conversations about money, wealth, poverty, hardship, etc. Examples: Heidi, Swiss Family Robinson, The Egg and I, Oliver Twist, the Little House on the Prairie series, the Grimm Bros fairy tales. I learned to read on Heidi, and ever after considered myself tolerably well-off as long as I had bread and cheese and didn’t have to milk my own goat!

]]> By: carloan calculator http://frugaldad.com/2010/07/19/how-to-insulate-kids-from-financial-fears/#comment-43611 carloan calculator Thu, 22 Jul 2010 00:06:45 +0000 http://frugaldad.com/?p=5747#comment-43611 As far as we may not want our children to be affected with the financial struggles around, it is just the mere fact that every corner of the world are damaged by these problems. Dealing with financial stress needs to be within a good control so as to provide a wall that will cover up for your children. We can always live happily with the simplicity of life. It may be a hard adjustment but fulfilling the duty to protect our children comes to be the driving force to still fight the battle despite all the obstacles in the way. As far as we may not want our children to be affected with the financial struggles around, it is just the mere fact that every corner of the world are damaged by these problems. Dealing with financial stress needs to be within a good control so as to provide a wall that will cover up for your children. We can always live happily with the simplicity of life. It may be a hard adjustment but fulfilling the duty to protect our children comes to be the driving force to still fight the battle despite all the obstacles in the way.

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