4 Ways to Afford a Child’s Wants

Sometimes we really, really want something but are faced with the choice of either doing without it or racking up debt. I’m talking about something that is clearly a want and not a need. Our frugal selves may say to skip it altogether, but that isn’t completely fair, is it? For most families, the biggest want usually come down to something that we want to get for our kids. The joy of fulfilling a wish is very tempting, especially if that wish has existed for a long time. The excitement on a child’s face is something every parent wants to … Continue reading →

Four Steps to Buying Children’s Clothing

Before you hit a single store to shop for children’s clothing, take the following four steps. You can trim the amount you spend on your kid’s clothes by fifty percent or more! Step 1: Inventory and Evaluate Set aside some dedicated time to inventory your child’s clothing. Weed out anything that is too small or not liked from the closet and drawers. You may be able to save these items for a younger sibling or friend, sell them for cash or donate them to charity. Toss anything that is stained, torn or stretched beyond hope. Chances are that there are … Continue reading →

Four Ways to Downsize the Gimmies

Don’t let the “Gimmies” take over your home. Use the following advise to downsize the constant requests for stuff from your kids. Limit Media Exposure The number of commercial ads that our kids are exposed to on a daily basis is staggering. All of those ads have just one purpose, to sell us stuff, our kids included. The more ads our children are exposed to, the more things they will believe that they have to have. These ads are very clever at manipulating our children into never being satisfied and always wanting more. Limiting the media exposure our children receive … Continue reading →

Innovative Ways to Save on Toys

Children can outgrow their toys very quickly. Don’t spend money on new toys unnecessarily. Here are some innovative ways that you can provide your children with creative, educational and time-occupying toys on a budget. Check Toys Out from a Toy Library Toy libraries are popping up all over the country. These libraries lend out top-rated toys, puzzles and games, as well as host play events for families. Toy libraries save parents from spending a lot of money on toys while making sure that kids don’t get bored. To locate a toy library near you, visit the Toy Library Association online. … Continue reading →

What Not to Do in Front of Your Kids When It Comes to Money

Children learn what they see. It is a true statement for any kind of behavior including money management. Children’s attitudes toward money and whether or not they will be able to make it work for them as adults has much to do with their parents. If you are married, think about any differences that there might be between you and your spouse, regarding any issues having to do with money. Is one of you more a saver than a spender? Do you approach investing or debt the same way? Chances are that you may each have different ideas about handling … Continue reading →

How to Encourage Children to Give Back

Each child should learn the importance of giving back, a lesson that will stay with him or her for a lifetime. Giving our children the opportunity to build character and become excellent human beings is one of the responsibilities and the pleasures of being a parent. Not to take away from the importance of this lesson for our children in the future, encouraging children to give back also has the added bonus of eliminating much of the “gimmies” for us parents, right here and now. Did you know that kids are instinctual givers? They are proud to give of themselves, … Continue reading →

How to Prepare Your Child for a Real Job

If you don’t want to be the family with the 20-something adult child laying on your couch, then you have to get started early with helping to prepare your kid for his or her first real job, one that can support a basic lifestyle and have an expectation of self sufficiency. Ideally, you have been giving your child or children important money lessons since they were preschoolers, but the most critical time comes when they reach the age of 13 or 14. That is when they need to know that when they become adults, they will be expected to hold … Continue reading →

Help Kids to Save with a Fun Fund

As adults, we often think of saving as something necessary and the responsible thing to do. We save up for things such as a new furnace or braces for one of the kids. Once in a while we will also save for something fun, such as a family vacation, but we often go about it with our usual boring adult selves–we plan, we save, we move money to a vacation account. These techniques, the ones we have learned over the years and now practice, however, don’t usually work with kids. For them, saving has to be visual and fun. Help … Continue reading →

Free Websites that Teach Your Kids about Money

Teaching kids about money, where it comes from, how to make it grow and how to use it responsibly is one of those things that many of us mean to get around to doing, but don’t often seem to complete. In fact, money lessons should never really come to an end. As society, the economy and technology changes, it is important for us all to keep up, and pass on the skills, knowledge and advice to our children. Fortunately, we don’t have to do this alone. There are a few really good websites out there that will help us teach … Continue reading →

The Difference Between Saving and Investing: An Important Distinction for Kids to Learn

You can save or you can invest. It is a distinction that many adults struggle with as a concept. How then can kids understand the difference, and why is it so important? Most kids who are introduced to the concepts of money tend to be conservative. They like to hoard as much of their money as they can and save up for things. That is a great phase that can be utilized by parents, caregivers and teachers to teach the value and the responsibility of money. Unfortunately, most kids do not get any instruction past those initial lessons. Many experts … Continue reading →