As everyone is thinking about financial perspectives and priorities during the first weeks of the new year, we encourage client couples and families to ask themselves a few lifestyle and values questions that will help them determine their approach to money – and help us in going over their budgets and goals. No two clients are alike, and lifestyle goals are as varied as the people we work with.
The catalogs, the catalogs! My mailbox has suddenly in the last few days been invaded by the seasonal army of festive holiday magazines, all suggesting that if I only spend $199 (each!) for those themed placemats, my dining room table will be shown off in all its glory just like the one in the picture. The only problem is, what the marketing people at that company don’t know, is that my dining room table has knife and fork marks all over it, and probably a few drops of blood from the kids! So we’ll probably be looking for a full-size table cloth instead.
As you make plans for vacations, lake days, family get-togethers, camps and other warm-weather fun, take the opportunity to talk to your kids a little bit about money. Even kids as young as 4 or 5 can start learning valuable money lessons. Plus, keeping their brains busy learning new skills between school years is always a good thing. Here are 3 money lessons for kids:
In normal times, May and June are when you see moving vans that signify kids moving out of their dorms and into summer apartments, and U-hauls picking up basement furniture that will now be the best piece in the place. This rite of passage has been short-circuited this year of course, but there are plenty of parents whose kids will be leaving home with a year or two.
As hard as it is to believe, the first day of school is less than a month away in Fayette County. Although we want you all to fully enjoy the remaining weeks of summer, I would encourage you parents out there to take a little time and think about your strategy regarding your kids and money. Especially as the little ones get older, it might to be time adjust a few things and get them more involved and thinking about how money works.
Here we are at the time of year when school is almost out and kids are gearing up for an active summer. I know with my two boys, it seems like each year their energy levels just go up and up and my wife and I put them in more and more sports and activities to keep everyone busy.
With all the kids going back to school this week, we’re all thinking about everything they’re going to learn this year. Exciting stuff! But don’t forget to keep teaching and talking to your kids at home about money, budgeting, and other basic financial topics.
We’ve been exploring the topic of what money can buy in our last few newsletters. This week, I thought I’d explore this topic as it pertains to kids. I’m not sure how things were in your house growing up, but when I was a kid, I got a minimal allowance for doing chores around the house. And I always made sure those chores got done because I loved the reward of getting that money.
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