4 Ways to Deal with the High Cost of Kids Sports and Activities

Today, it is not surprising to hear that parents are spending anywhere from $3,000 to $5,000 a year per child on sports, dance or other activities. In some cases, that amount can be even higher, when there are several children in the family and each are taking several activities at a time. According to financial guru Dave Ramsey, “some parents can spend up to $10,000 a year funding their child’s athletic pursuits.” Why is the cost so high these days? First of all there is equipment that parents much purchase, everything from figure skates or hockey skates, to baseball equipment … Continue reading →

Encouraging Kids to Make Their Own Cash

In most homes, “encouraging” is easily interchanged with “threatening.” After all, how many parents relish seeing their fully capable teens sleeping in until noon and then lounging on the couch watching TV or texting when they could be gainfully employed at a decent summer job? Aside from the freedom to purchase expensive jeans, apps, music, and other teen-related must-haves, there are a slew of additional benefits that your child can gain from a summer job, including: learning responsibility, managing time well, honing math and reading skills, communicating, prioritizing, budgeting money and working on interpersonal relationships. However, before your child can … Continue reading →

Mad Dash for Serious Summer Cash

My daughter is hunting for a summer job, so she can earn money to purchase this. She’s seven. I told her that if she picked up her toys, set the table for dinner and help fold towels, at least five days a week, I’d give her $5. She turned down my offer. “I want to walk dogs for money,” she replied dryly. “Not fold towels.” Well, then, I sure hope our neighbors don’t turn her down when she solicits her services or she’s going to be one poor kid this summer. And by poor, I mean the Bank of Mommy … Continue reading →

Cash for Kids

How much would you pay your kid to sweep up spilled Cheerios from the kitchen floor? With summer just around the corner, many kids are looking for ways to make money to fund summer fun. In most cases, younger children look to their parents for spare change or cash in exchange for hard labor. Okay, maybe that’s just my house. Older children may look for outside work to pad their wallets; though securing a summer job is not always easy. It pays to start the search for summer employment early. Many businesses start posting seasonal positions as early as March. … Continue reading →

Kids and Money – What and When

One of the most valuable things that a parent can do is teach their children about money. If children are raised to understand how money works, they are likely to grow into financially aware adults who are able to make good financial decisions for themselves and their families. Of course, the big question is when to begin teaching them and what to teach them at each age and stage of their development. The earliest form of financial education for children happens without you even necessarily realizing that you are doing it. Children are very observant, and they see and hear … Continue reading →

Helping Kids Earn Money

With Christmas looming, my 7-year-old daughter’s gift wish list seems to grow by the day. She’s been combing through toy catalogs since October and has dog-eared so many pages I’m afraid that Santa won’t be able to deliver all the goods. In fact, I know Santa won’t be bringing half of the things on her mile-long list. Without blowing her belief in the big guy, I have been gently reminding her that if (more like, when) Santa doesn’t grant all of her wishes, she still has the opportunity to get them by paying for them herself. Currently, she earns a … Continue reading →

Fun Financial Education for Kids

Allowance is a hot topic in my daughter’s second grade class. Last week, her school hosted a gigantic book fair and kids were given the opportunity to shop during recess. Of course, that meant administrators had to modify their “no money on school property” rule. For the fair’s three-day run, students were allowed to bring up to $40 in cash and keep it in their backpacks until it was time to shop. Naturally, my daughter begged to bring 40 bucks to school. “Do you have 40 dollars?” I asked. “No, but you can give me it,” she responded without hesitation. … Continue reading →

More Family Friendly Ways To Save

Yesterday I shared a few ideas for saving money on things that the youngest members of your family need. Today, I have more suggestions for things that parents can do to help lower some of the costs associated with raising children. Since parenting styles vary so greatly, not all of these tips will appeal to all families. Hopefully within this collection of tips there is something for everyone. One of my favorite things to do is to look for things that I can do during the day with my son that do not cost anything. I am a stay at … Continue reading →

Saving Money On Stuff For The Kids

Having children costs quite a bit of money. However, many of the costs associated with raising children are things that we have at least some control over. From big things like whether and how often to place your child in child care to the little things (which can really add up) like where and how you purchase clothes, toys, and other things that your children need, it is definitely worth taking a little time to evaluate what you are currently doing and see whether there are some money saving changes that you could make to ease the strain on your … Continue reading →

Toddlers and Financial Literacy

I am certainly a believer in teaching your kids about money. I am learning more than a few financial lessons the hard way, and I am not about to blame it on my parents but I am going to do everything that I can to ensure that my children do not repeat my mistakes. While it seems as though I have quite a bit of time before I have to start worrying about it, I wonder how much time I actually do have before I have to worry about it if you know what I mean. My son is twenty … Continue reading →