#5 of 10 things NOT to say to your kids about $$$: “Do as I say, not as I do.” Seriously? Kids do what they see us do and they know our actions as parents are more genuine than our words. Remember that first smile? It was a reflection of our own smile. We taught them that smile through our actions.
What you should say is… “Watch me and learn how money is to be managed wisely. Watch me save, spend wisely, put the “do” in donate and invest for the future. Let me show you how.”
In this past Sunday’s Chicago Tribune, our award-winning app for kids, Savings Spree, was featured in an article about apps to teach kids the basics of savings and spending wisely. Here’s a link to the article: “Thrift? There’s an app for that”
Thanks to our friend, Lou Carlozo of Reuters, for including our app in this great resource article for families. If you haven’t tried Savings Spree yet, here’s a brief video demo to see how kids can learn about money choices and the impact of those choices with the Money Savvy Pig as the host:
If you want to see more, here’s the long version of the demo:
USA Today ran a front page story recently on the impact of financial illiteracy. It raises the issue of how not learning money lessons before you head out to the workplace can cause additional stress and challenges, especially in a down economy. A recent PNC financial survey finds that young adults, around age 20+, have roughly $45,000 in debt, and unemployment for 18-24 year olds stands at 12.4%, above the national average of 8.2%. Sobering stats.
If you have someone in your life heading into this tough climate, start helping them now to network their way into a job. Show them how to use the connections in their lives and yours to get employed. If you have a child in your life that is even younger, years from this battleground, start teaching them about money now so they can avoid adding crippling debt to their list of challenges as they launch into the adult world after college. Continue reading
Over 5 years ago I met Chicago City Treasurer Stephanie Neely when we both volunteered as Principals for a Day at a south side elementary school in Chicago. I gave her a Money Savvy Pig so she could give it to her then 4-year-old son so they had something visual at home to help them talk about money. Over the holidays, the Treasurer shared her story with the Chicago Examiner of the impact the Money Savvy Pig has had on her son becoming a “determined saver”. Here’s a link to the article: http://www.examiner.com/city-hall-in-chicago/federal-program-teaches-youth-about-money
Since that first meeting, Treasurer Neely has become a wonderful partner and advocate to help reach young Chicago Public School students with lessons of financial literacy. With the Treasurer, through The Money Savvy Generation Foundation, we created a truly unique and rewarding program called the Financial Education Initiative for Students and Families. To see a video of the impact from the 2011 program, click below.
Thank you, Treasurer Neely, for sharing the Money Savvy Pig with your son – and for making financial literacy a priority in Chicago. Because of you, and the other program supporters, over 200,000 Chicago Public School elementary students have learned about the basics of personal finance over the last few years. Lessons that will last a lifetime. Thank you!
#5 of 10 things NOT to say to your kids about $$$: “Do as I say, not as I do.” Seriously? Kids do what they see us do and they know our actions as parents are more genuine than our words. Remember that first smile? It was a reflection of our own smile. We taught them that smile through our actions.
