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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. 

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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.

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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!

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Financial education

Pay Day – Our New Favorite Board Game

I don’t normally go out on Black Friday, but my sister and her husband came home this past Thanksgiving, so a trip to Target was in order. While shopping, I stumbled on a magical game called Pay Day.

A quick scan of the box showed that it was a money management game, and I knew I had to have it. Plus it was the “retro” edition, which made it even more desirable. (Why is that?)

I bought the game (for a discount because the Cartwheel price was lower than the in-store price) and we played our first game that weekend.

The Game

The rules are easy. Everyone starts out with $325 (in the retro edition). The board is a month, and before the game starts, you decide how many months you want to play.