Ahh! Family Day, a time to spend relaxing on the couch, taking a nice long walk with the family dog, catching up on a favourite pastime with the family or whatever you enjoy doing – assuming that you don’t have to work.
Family Day can also be a great opportunity to plan for more financially literate kids!
Imagine kids understanding the value of money, being responsible in how they spend, save and share the money that they have access to. The fact is that learning how to manage money is like learning how to ride a bike. You have to actually ride the bike!
Allowing kids to have access to money and to make their own choices is like putting your kid on a bike for the first time. Their first “bike” may actually be a tricycle, or a two wheeler with training wheels. You carefully put them on the bike and then walk beside them with great apprehension and fear; yet you are confident that one day you’ll be able to take the training wheels off.
Perhaps the first time your child rides without the training wheels your kid looses his/her balance. Perhaps there is even a bruise or two. But they soon become proficient at managing their bike and you can then focus on walking the dog or better yet....cleaning up after your canine friend.
To help your kids on their financial journey, open a dialogue with your kids about money. Many of us don’t do this for a host of reasons. Anything from not having the time, don’t know what to say or afraid of their kids sharing the status of their family finances with their friends. These are all good reasons: so too is not learning to ride a bike for fear of a few bruises.
Remember: you are in full control of what you share with your kids. We wouldn’t deprive our kids of the pleasure of riding a bike or the self-esteem they develop in the process, so try talking with your kid about money...in whatever way you feel comfortable.
Help your kids develop good financial habits. It starts with awareness...it starts with conversation, one small step at at time.
Have fun!
HAPPY FAMILY DAY!
Sunday, February 19, 2012
Monday, May 16, 2011
Summer Is Just Around The Corner!
Summer is just around the corner and many of us are looking forward to those weekend trips to the cottage, or perhaps you are making plans for a family vacation or a summer camp for the kids.
Recently someone said to me that my website: www.moneysmarts4kids.com did not have any upcoming events listed on the website and wondered if I was running any summer camps this year.
At first I was a bit defensive as to why my website was not up to date, but I was able to explain that events happen sometimes quite quickly without much notice to have them posted on my website, and quite often promotion of the event is a task that is undertaken by my client. When I thought about it afterwards, I came to the conclusion that there really is no reason that the scheduled events can’t be listed on my website, so I’ll be asking my webmaster to make the changes to my website and add the scheduled summer camps.
Here is the line up of Money Smarts 4 Kids events that are open to the public:
The Wise Steward – St.Paul’s on-the Hill, Pickering. This will conclude on May 29th
Money Smarts 4 Kids- Richmond Hill Central Public Library. July 4,11,18 & 25
Camp Millionaire- Appleby College, Oakville. July 4-8
Camp Millionaire- Appleby College, Oakville. July 11-15
Abundant Wealth- Appleby College, Oakville. July 18-22
Camp Millionaire- Appleby College, Oakville. July 25-29
Camp Millionaire- Appleby College, Oakville. August 8-12
Summer camps should be a time where kids can have a great deal of fun and can make new friends. As parents, we know that kids want to have fun. On the other hand we also know that kids need to learn the value of money, so how does one achieve both these objectives at the same time?
Through games and activities that teach financial concepts, it is possible for kids to learn while they are having fun and to enjoy the summer camp experience as well.
What is important also is that kids have a way to recall what they learnt. How often do we adults attend a workshop or seminar and three weeks later we forget most of what we learnt? Kids are the same, so practical tips and a playbook help to keep the information alive and fresh in their minds and assist in the forming of new habits. All of our camps supply playbooks that kids get to keep.
Look for the above summer camps to be listed shortly on the Money Smarts 4 Kids website.Full details will also be posted.
Have a great summer!!!
Richard Rainford
Money Smarts 4 Kids
416-562-0140
www.moneysmarts4kids.com
Recently someone said to me that my website: www.moneysmarts4kids.com did not have any upcoming events listed on the website and wondered if I was running any summer camps this year.
At first I was a bit defensive as to why my website was not up to date, but I was able to explain that events happen sometimes quite quickly without much notice to have them posted on my website, and quite often promotion of the event is a task that is undertaken by my client. When I thought about it afterwards, I came to the conclusion that there really is no reason that the scheduled events can’t be listed on my website, so I’ll be asking my webmaster to make the changes to my website and add the scheduled summer camps.
Here is the line up of Money Smarts 4 Kids events that are open to the public:
The Wise Steward – St.Paul’s on-the Hill, Pickering. This will conclude on May 29th
Money Smarts 4 Kids- Richmond Hill Central Public Library. July 4,11,18 & 25
Camp Millionaire- Appleby College, Oakville. July 4-8
Camp Millionaire- Appleby College, Oakville. July 11-15
Abundant Wealth- Appleby College, Oakville. July 18-22
Camp Millionaire- Appleby College, Oakville. July 25-29
Camp Millionaire- Appleby College, Oakville. August 8-12
Summer camps should be a time where kids can have a great deal of fun and can make new friends. As parents, we know that kids want to have fun. On the other hand we also know that kids need to learn the value of money, so how does one achieve both these objectives at the same time?
Through games and activities that teach financial concepts, it is possible for kids to learn while they are having fun and to enjoy the summer camp experience as well.
What is important also is that kids have a way to recall what they learnt. How often do we adults attend a workshop or seminar and three weeks later we forget most of what we learnt? Kids are the same, so practical tips and a playbook help to keep the information alive and fresh in their minds and assist in the forming of new habits. All of our camps supply playbooks that kids get to keep.
Look for the above summer camps to be listed shortly on the Money Smarts 4 Kids website.Full details will also be posted.
Have a great summer!!!
Richard Rainford
Money Smarts 4 Kids
416-562-0140
www.moneysmarts4kids.com
Friday, February 11, 2011
Tackling Financial Literacy
For all the many Canadian parents with kids in school, we can all breath a sense of relief that there is now a National strategy to fight financial literacy.
It is a comprehensive approach to the problem facing Canadian families and as Money Smarts 4 Kids has always advocated financial literacy for young people it is encouraging to see positive steps being taken to move closer to this resolve.
The reality is that the Task Force on Financial Literacy is tackling not only educating kids about financial matters but all Canadians. The other reality is that The Task Force while placing a priority on having the subject mandatory in schools has also placed the responsibility on a vast cross section of Canadians.
I would highly recommend that you read the entire report however if you are strapped for time here are the five National Strategy priorities:
• Shared Responsibility,
• Leadership and Collaboration,
• Lifelong Learning,
• Delivery and Promotion, and
• Accountability.
This five pronged approach by the Task Force is designed to fill the gaps left by a more narrow approach and their intent is to maximize the chance of success of the initiative by involving a cross section of the varied Canadian population.
For example the first priority “Shared Responsibility” places responsibility of financial literacy on financial services providers, the private sector, public sector, individuals and families, labour organizations, the credit counselling community and the volunteer sector. In other words as parents we share in the responsibility of our kids being financially literate.
The second priority of “Leadership and Collaboration” includes educators, government and again financial services providers, the private sector, labour organizations and the volunteer sector. This is where the schools come into play and our kids get taught a curriculum that will be age specific.
Have a look at the report. There is a summary version on the link I provided above. I believe that this is a great start to providing valuable information especially to our young people so that they can make better financial choices and emerge a financially fitter generation of Canadians.
Let’s make it happen!
It is a comprehensive approach to the problem facing Canadian families and as Money Smarts 4 Kids has always advocated financial literacy for young people it is encouraging to see positive steps being taken to move closer to this resolve.
The reality is that the Task Force on Financial Literacy is tackling not only educating kids about financial matters but all Canadians. The other reality is that The Task Force while placing a priority on having the subject mandatory in schools has also placed the responsibility on a vast cross section of Canadians.
I would highly recommend that you read the entire report however if you are strapped for time here are the five National Strategy priorities:
• Shared Responsibility,
• Leadership and Collaboration,
• Lifelong Learning,
• Delivery and Promotion, and
• Accountability.
This five pronged approach by the Task Force is designed to fill the gaps left by a more narrow approach and their intent is to maximize the chance of success of the initiative by involving a cross section of the varied Canadian population.
For example the first priority “Shared Responsibility” places responsibility of financial literacy on financial services providers, the private sector, public sector, individuals and families, labour organizations, the credit counselling community and the volunteer sector. In other words as parents we share in the responsibility of our kids being financially literate.
The second priority of “Leadership and Collaboration” includes educators, government and again financial services providers, the private sector, labour organizations and the volunteer sector. This is where the schools come into play and our kids get taught a curriculum that will be age specific.
Have a look at the report. There is a summary version on the link I provided above. I believe that this is a great start to providing valuable information especially to our young people so that they can make better financial choices and emerge a financially fitter generation of Canadians.
Let’s make it happen!
Friday, December 17, 2010
Are you a Philanthropist?
When it comes to giving to others, one of things most people are afraid of and the reason for not giving to a needy person is that they may take the money to buy booze or otherwise spend it foolishly. As a result, many of us prefer to give to a recognized charity as we open our wallets and purses to help others financially.
It has been said that many of us give out of a feeling of guilt. I believe that! I also believe that if we are not able to give because of our own financial obligations, we also carry around another version of guilt....Guilt out of not helping others that we know are in need.
What if we didn’t actually have to give? What if we were able to help others to help themselves? I personally am a firm believer in teaching a person to help themselves. The old Chinese expression “Give a person a fish you feed them for a day. Teach a person to fish you feed them for a lifetime!”
There is a wonderful way to give to others while they learn how to help themselves and this is through an organization call Kiva. Kiva is a micro credit organization that lends money to entrepreneurs around the world to help them to help themselves and they have made it very practical for you to reach out to these folks. They even have a great gift giving idea that I used last year as Christmas gifts. Many of the parents in our family have kids that really don’t need more toys or more clothes and we were at our wit’s end to give something that was of value. We discussed this idea with the parents who just loved the concept and the kids were able to receive a valuable lesson.
So if you want to help others this year consider Kiva. I have created a lending group and you are welcome to join this group if you like. Here is the link: http://www.kiva.org/team/money_smarts4_kids
So don’t be a scrooge when you could be a philanthropist!
It has been said that many of us give out of a feeling of guilt. I believe that! I also believe that if we are not able to give because of our own financial obligations, we also carry around another version of guilt....Guilt out of not helping others that we know are in need.
What if we didn’t actually have to give? What if we were able to help others to help themselves? I personally am a firm believer in teaching a person to help themselves. The old Chinese expression “Give a person a fish you feed them for a day. Teach a person to fish you feed them for a lifetime!”
There is a wonderful way to give to others while they learn how to help themselves and this is through an organization call Kiva. Kiva is a micro credit organization that lends money to entrepreneurs around the world to help them to help themselves and they have made it very practical for you to reach out to these folks. They even have a great gift giving idea that I used last year as Christmas gifts. Many of the parents in our family have kids that really don’t need more toys or more clothes and we were at our wit’s end to give something that was of value. We discussed this idea with the parents who just loved the concept and the kids were able to receive a valuable lesson.
So if you want to help others this year consider Kiva. I have created a lending group and you are welcome to join this group if you like. Here is the link: http://www.kiva.org/team/money_smarts4_kids
So don’t be a scrooge when you could be a philanthropist!
Monday, November 29, 2010
'Tis The Season For Giving!
‘Tis the season for giving and kids will be looking forward to receiving all sorts of wonderful toys, games and shiny new stuff!
It’s exciting isn’t it?
While you have their full attention this is a perfect time for kids to learn about making choices and the value of money.Help them through the process of making choices from their list that is probably longer than you care to imagine. We know that our kids are being marketed to in so many ways and we know that their wish list is part want, part got to have and sometimes even just plain wishing. It is a stressful time for them as well as for parents and to them it may appear to be too many decisions to make in order to choose from that long list. So help them determine the importance of each gift and take the time to guide them in their choices.
Kids grow fast and they grow tired of some toys and games even faster, so try to evaluate how much “value” they are likely to receive from an item on their wish list and if they are old enough, encourage a good conversation about this to help them learn the process of making good decisions.
Let’s face it. Toys cost money...sometimes lots of money! Be practical. Don’t overdue the Season. After all the fun and excitement is over, normalcy returns life goes on and the bills have to be paid. That too is a lesson kids can learn from.
Have Fun!
It’s exciting isn’t it?
While you have their full attention this is a perfect time for kids to learn about making choices and the value of money.Help them through the process of making choices from their list that is probably longer than you care to imagine. We know that our kids are being marketed to in so many ways and we know that their wish list is part want, part got to have and sometimes even just plain wishing. It is a stressful time for them as well as for parents and to them it may appear to be too many decisions to make in order to choose from that long list. So help them determine the importance of each gift and take the time to guide them in their choices.
Kids grow fast and they grow tired of some toys and games even faster, so try to evaluate how much “value” they are likely to receive from an item on their wish list and if they are old enough, encourage a good conversation about this to help them learn the process of making good decisions.
Let’s face it. Toys cost money...sometimes lots of money! Be practical. Don’t overdue the Season. After all the fun and excitement is over, normalcy returns life goes on and the bills have to be paid. That too is a lesson kids can learn from.
Have Fun!
Wednesday, May 5, 2010
What Are Your Kids Thinking?
Like learning to ride a bike, developing wealth is a skill that is learned, and kids can learn how.
It starts with how we think and this is why scholars of wealth study the wealthy... how they made their fortunes, and then apply those principles.
Kids can do that too. They learn a great deal from merely watching parents and other adults and if they are given the opportunity to rise to a new level, just stand back and watch them soar to new heights!
Wealthy people think quite differently from the rest of us. For one thing they think in terms of abundance rather than from scarcity. They begin with expanding their means rather than just living within them. For many of us, we don’t think beyond the current situation and never consider the possibilities that may await us. Instead, often times we allow circumstances to define us and fall into apathy.
Albert Einstein once said,” A problem cannot be solved at the level of consciousness in which it occurs.” Wealthy people understand the significance of this and study others that went ahead of them so that they can raise their level of consciousness and move forward.
Can kids learn to raise the level of their consciousness? You as a parent want the best for the people you care about and provide the environment for them to do just this. As they express interest in education, skill-building and personal growth, why not introduce kids to a new level?
The wealthy introduce their kids to the skills of developing wealth and for them it is just as important as a good formal education.
Action Step: Ask yourself this question:” What level of financial success do I want for my child?
1) Poverty
2) Middle class
3) The best, not wanting for anything
If you want the best for your child, give them the best opportunities possible and remember, like learning to ride a bike, developing wealth is a skill that is learned.
It starts with how we think and this is why scholars of wealth study the wealthy... how they made their fortunes, and then apply those principles.
Kids can do that too. They learn a great deal from merely watching parents and other adults and if they are given the opportunity to rise to a new level, just stand back and watch them soar to new heights!
Wealthy people think quite differently from the rest of us. For one thing they think in terms of abundance rather than from scarcity. They begin with expanding their means rather than just living within them. For many of us, we don’t think beyond the current situation and never consider the possibilities that may await us. Instead, often times we allow circumstances to define us and fall into apathy.
Albert Einstein once said,” A problem cannot be solved at the level of consciousness in which it occurs.” Wealthy people understand the significance of this and study others that went ahead of them so that they can raise their level of consciousness and move forward.
Can kids learn to raise the level of their consciousness? You as a parent want the best for the people you care about and provide the environment for them to do just this. As they express interest in education, skill-building and personal growth, why not introduce kids to a new level?
The wealthy introduce their kids to the skills of developing wealth and for them it is just as important as a good formal education.
Action Step: Ask yourself this question:” What level of financial success do I want for my child?
1) Poverty
2) Middle class
3) The best, not wanting for anything
If you want the best for your child, give them the best opportunities possible and remember, like learning to ride a bike, developing wealth is a skill that is learned.
Tuesday, April 13, 2010
Marketing To Kids!
It may be difficult for some kids to save for the future when there is so much "stuff" that they are convinced they must have today.
This is not surprising when you consider the billions of dollars that are spent on youth marketing and just how sophisticated the psychology and neuroscience is.
Kids are being marketed to over the Internet, through cell phones, iPods and video games. There is product placement and brand marketing in schools as well as stealth marketing and viral marketing.
As parents perhaps we are not able to prevent our young ones from being exposed to this bombardment of marketing, but what we can do is to help our kids through the choices that they have.
Take the opportunities to explain the difference between wants and needs. That's a start....but only a start because needs can be subjective.
Help your child through their purchasing decisions by getting down to the "why" they think they need that particular thing. As you help your child think through their purchase, you are helping them to make better choices and better decision.
This is a great skill to learn...a skill that someday may lead to them saving for the future.
This is not surprising when you consider the billions of dollars that are spent on youth marketing and just how sophisticated the psychology and neuroscience is.
Kids are being marketed to over the Internet, through cell phones, iPods and video games. There is product placement and brand marketing in schools as well as stealth marketing and viral marketing.
As parents perhaps we are not able to prevent our young ones from being exposed to this bombardment of marketing, but what we can do is to help our kids through the choices that they have.
Take the opportunities to explain the difference between wants and needs. That's a start....but only a start because needs can be subjective.
Help your child through their purchasing decisions by getting down to the "why" they think they need that particular thing. As you help your child think through their purchase, you are helping them to make better choices and better decision.
This is a great skill to learn...a skill that someday may lead to them saving for the future.
Subscribe to:
Posts (Atom)