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Financial education

Is it time to get your teenager a debit card?

Recently a friend shared that her 8th grader was going on a school field trip. Parents had been advised to make sure their child had a way to electronically pay for any souvenirs because the destination was cashless.

The teacher gave the parents some suggestions — a pre-paid card (like from the grocery store), adding a card to Apple Wallet or the like on the child’s phone, or giving them cash and having them convert it to a card at the destination.

She ended up adding her card to her son’s Apple Wallet and all was well, but 8th grade is a great time to get kids their own card so they can learn to manage money!

Categories
Financial education

5 Day challenge to get your kids started managing money

Want to get your kids started managing money? I’ve broken the process down over five days, and by the end of day 5, they should be well on their way!

Day 1 – Get started

Let’s get started. Grab two index cards and a pen. 

Categories
Financial education

The simple way your teenager can manage their money

When I first started teaching J about money, we used cash and envelopes. After a few years, we switched to FamZoo’s prepaid cards and last year when he turned 13, we opened regular checking and savings accounts at our credit union.

J has also been using YNAB for two years now, but I wanted to give an update on the entire process and how easy it can be for your teenager to manage their money.

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Financial education

Money advice for kids that fits on an index card

There’s a great personal finance book by Helaine Olen and Harold Pollack — The Index Card: Why Personal Finance Doesn’t Have to Be Complicated. The idea is that “everything you need to know about managing your money could fit on an index card.”

Olen and Pollack aren’t the only ones who have created an index card full of money advice. Bill from FamZoo has one — The 5 Things I Want To Teach My Kids About Money Fit on a 4×6 Index Card. I also love these slide shows from the New York Times — one and another.

Reading all of the different ideas and loving the simplicity of the project, I decided that it was time to create my own.

Categories
Financial education

We Loved How to Turn $100 into $1,000,000 and You Will Too

Recently J and I read How to Turn $100 Into $1,000,000 by James McKenna and Jeannine Glista. The book is a goldmine of financial information, written in a sassy, fun and engaging way. Read our summary and enter to win a copy below!