dcsimg

Kids


  • 7 surprising results when you pay your kids for chores (30 comments)
    This article is by staff writer Lisa Aberle.

    One of our parenting goals is to rear frugal kids. Take care of their stuff. Spend wisely. Save for a rainy day. Making the goal is easy, but implementing the goal? Definitely harder. How our (current) allowance system works Over the last couple of years, we’ve been experimenting with the best ways to teach our kids to manage money. What I’ve learned is that it’s best…

  • Your turn: Taming the ‘I wants’ when money is tight (16 comments)
    This article is by staff writer Katie O’Connor.

    It’s hard enough to say no to ourselves when it comes to unnecessary spending — getting that $4.35 latte just because, for example. So why is it always such a surprise when we lose battles against the everyday wants (not needs) of our very determined and savvy children? If this sounds familiar, you aren’t alone. Academics and mental health professionals agree that parental feelings about money…

  • Your teen’s summer jobs could be their first million (24 comments)
    This article is by staff writer William Cowie.

    Few things are as much a part of growing up in America as getting a summer job. And here’s why most agree a summer job is a good thing to have as part of your coming of age: You get a good introduction to the rest of your life, which more likely than not will involve a job — working for someone else. You learn about…

  • 11 ways to entertain your kids this summer for free (with stuff you already have!) (6 comments)
    This article is by staff writer Lisa Aberle.

    Are you frantically trying to smother the “I’m bored”s at your house too? Most of the country is knee-deep in their kids’ summer vacation now, and our house is no exception. Keeping our children entertained and out of mischief is a full-time (and, if I’m honest, a little overwhelming too) job. When I start feeling frazzled by sibling fights and whining, I want to cope by…

  • How to develop your child’s full potential (8 comments)
    This article is by staff writer Lisa Aberle.

    Have you ever had the nagging sense that you were just floating through life? Stuck in a dead-end job, perhaps? Wasting your abilities, but unsure what to do about it? Almost everyone I know has felt that way at least once. But let me ask you another question: Has that dissatisfaction caused you to spend too much money, as sort of a band-aid on a stagnant…

  • How to raise a frugal child (39 comments)
    This article is by staff writer Lisa Aberle.

    Sometimes you find clues of your kids’ financial education progress in the strangest places. “Dear Santa” – began my seven-year-old daughter’s letter, published in our local newspaper - “May I have more money? I will save it to buy a house or car.” (I know. I still can’t believe she wrote it, either.) “I want for my brother a horse that is real…” and “For my baby brother; he…

  • Bad advice about having a baby I’m glad I followed (52 comments)
    This article is by staff writer Holly Johnson.

    Last week I was out walking with a friend when she admitted she was scared she would never have kids. “We’ll never be able to afford them,” she said as we made our way around the block and up the next street. She and her husband are about our age (and not getting any younger), and I could tell she was worried. “Oh, I’m sure you’ll…

  • The daycare debate: A double-edged sword (120 comments)

    This article is by staff writer Holly Johnson. As many of you know, my husband had a career crisis that left him unemployed for several months last summer. It was scary, but we learned a lot from the experience — including the fact that the grass isn’t always greener and that we really needed to learn to be happy with what we had. And, beyond that, we now feel blessed that he found a new job…

  • Teaching life skills to your children (22 comments)

    This article is by staff writer Lisa Aberle. While I’ve tackled many kid-centered topics, like how to save on kids’ clothes, should you buy your kid a car, or pay for your child’s college, you know what is really important to me? Helping them learn to be responsible and self-sufficient, so they don’t need me (except for moral support, of course). So while I often hear that I am a mean mom, and no other kids have to…

  • Why we aren’t saving for our children’s college educations (143 comments)

    This article is by staff writer Lisa Aberle. For a few years, I got to skip Dave Ramsey’s Baby Step 5. Save for our children’s college education? That was an easy one…since we didn’t have children, that answer was NO! But now we have two kids (soon to be three), which means our days of delaying that decision are over. And since our oldest child is ten, we’ve already missed out on a decade of compounding….

  • Things that babies just don’t need (157 comments)

    Just the other day, I was grocery shopping with my husband and kids when we made an interesting discovery. We were in the baby aisle picking up some diapers for our youngest when my four-year-old picked up a small package and asked me what it was. “What’s this, Mommy?” I picked it up and looked. And looked. And got really confused. “Ummmm…..pacifier wipes?” According to the packaging, they were food-grade pacifier wipes. “What do you do with…

  • Minimalist parenting: The frugal choice (77 comments)

    This post is by staff writer Sarah Gilbert. The woman on the radio sounded panicked. She lived in Los Angeles, and because of her neighborhood (weird homeless guy on the corner; busy streets all around) she didn’t trust her kids to play outside. So she spent her time driving them to activities where they would get… physical activity. It sounded a little awful, and it sounded expensive. I had been interviewed for this piece (my…

  • Financial Education for Fifth Graders (81 comments)

    I’ve finally overcome my fear of speaking in public (though speaking in front of 1000 people at next month’s World Domination Summit may bring that fear back) and have actually found that I enjoy talking to various groups about money. I think the key is not to over-prepare. In early May, for instance, I made a presentation for Adelante Mujeres, a group working to strengthen the local latina community. I spoke to about 25 immigrant…

  • 5 Unusual Ways to Raise Successful Children (105 comments)

    This is a guest post from Natalie Peace of PeaceAndProfit.com. She is the author of 30 Keys to Building a Multi-Million Dollar Business: What They Didn’t Teach Me in Business School. Natalie is an entrepreneur, business coach, and she’s currently writing a book on how to start a wildly successful business. Looking at the businesses I’ve built, managed, and sold (worth $2 million) by the age of 30, I’ve been reflecting lately on what set…

  • Ask the Readers: How Much Money Do You Need Before You Have Kids? (268 comments)

    For the most part, this site reflects my values and my experiences. That’s natural. One of the first rules of writing is to “write what you know”. This is one of the main reasons I’ve brought staff writers aboard here at Get Rich Slowly — their experiences are different than mine, and they bring different perspectives into play. Sometimes I have big blind spots in my life (financial and otherwise). One rather large blind spot…

  • Reader Story: The High Cost of Kids’ Sports (92 comments)

    This guest post from Kay Lynn Akers is part of the “reader stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success — or failure. Kay Lynn writes about money and life at Bucksome Boomer. More and more children are participating on travel or elite sport teams. Having your child invited to join a travel sports team is an honor but there are…

  • Frugal Back-to-School Shopping (115 comments)

    This post is from GRS staff writer Donna Freedman. Donna writes a personal finance column for MSN Money. She also writes about frugality, intentional living, and life in general at her own blog, Surviving And Thriving. According to the National Retail Federation, we’ll spend $68.8 billion outfitting our students for school this year. Yes, I said $68.8 billion. Sounds like a lot of money, right? But the NRF actually considers this “flat.” More than 80%…

  • The Tiger Mother and You: Are We Preparing Our Kids for a Better Financial Future? (120 comments)

    This is a guest post from Robert Brokamp of The Motley Fool. Robert is a Certified Financial Planner and the adviser for The Motley Fool’s Rule Your Retirement service. He contributes one new article to Get Rich Slowly every two weeks. Those of you who are parents — and those of you who came from them — may have already read the Wall Street Journal article by Amy Chua (which is an excerpt from her…

  • Allowance: For Learning or Reward? (46 comments)

    This is a guest post from Gail Vaz-Oxlade, the host of the popular Til Debt Do U$ Part on CNBC (Saturday nights at 10 and 10:30). Gail is a columnist for Yahoo Canada, Chatelaine, and Zoomer Magazine and blogs daily at her website, where she also offers terrific tools people can use to dig themselves out of the hole. Gail’s latest book is Debt-Free Forever. Children receive mixed messages about money. At home they hear…

  • Using an Allowance to Teach Kids About Money (40 comments)

    This is a guest post from Nickel, who writes about personal finance at Five Cent Nickel. Since that and his four kids don’t keep him busy enough, he’s launched another site more narrowly focused on credit card offers. Though small was your allowance, you saved a little store; and those who save a little shall get a plenty more. — William Makepeace Thackeray Just over three years ago, we decided to start paying our kids…

  • Saving with Albert: Teaching a Four-Year-Old the Value of Money (33 comments)

    My friend Albert — age four — loves electricity. Ever since he was young (ha!) he’s been fascinated by the stuff. His parents have carefully nurtured his hobby. Now that Albert’s older, they’ve decided this might be a good way to teach him about money. In this guest post from my friend Lisa, she describes how they’re helping Albert take the financial plunge. My son Albert loves his collection of colored light bulbs with all…

  • How to Inoculate Your Children Against Advertising (91 comments)

    This is a guest post from Lisa Tiffin, a freelance writer who covers food, lifestyle, business, and green living. I have a confession to make: I like commercials. Even though they can be boring, insulting, and just plain bothersome, on some level they intrigue me. I often wonder why certain ads fail miserably while others succeed in catapulting a brand to the forefront of store shelves. I like commercials because I enjoy guessing which will…

  • How to Prepare for a Baby (Without Going Broke) (92 comments)

    This is a guest post from Lynnae of beingfrugal.net, a blog about frugal living and getting out of debt. Preparing for a baby doesn’t have to cost a lot of money.  Magazines and TV ads will tell you that you need to spend a fortune in preparation for your little darling’s arrival, but it’s simply not true.  When my husband and I were expecting our first child, my husband was working at a small radio…

  • The Problem with the Bank of Mom and Dad (39 comments)

    An anonymous poster at AskMetafilter wonders should parents finance grad school? Should parents help their children pay for grad school if they can afford it? My parents are divorced, but both are in households considered in the top 1% of the US in terms of income and net worth. After limited financial assistance from them during undergrad, I am getting no help at all for grad school. Am I out of line to expect that…