Welcome to the National Bank of Mom. I’m Maggie, and I’m glad you’re here!
I’m here for you.
That is if you’re a person who is interested in teaching kids about money. (If not, there might not be a lot for you here, but thanks for stopping by!)
Maybe you’re a parent, a grandparent, an aunt or an uncle, a teacher or a coach. Maybe just a friend! Regardless of who you are, there are kids in your life and you want to help them with a good financial foundation.
I share my experiences (successes and failures) and thoughts about teaching my own son, J, all about money. Everything and anything I can think of and research about how to prepare him for the world ahead.
We have great stuff.
Why is it so important to start saving early? Read about it in our post on the rule of 72. (It sounds boring, but I promise you, it’s not.)
If you want to teach a young person about money but don’t think you’re ready because you’re not the best with it, read about how I got my finances in order.
Now let’s get to work.
You can pay your kids interest from the Bank of Mom (and/or Dad), too! Sign up to get two great downloads — I’ll send you a kick-ass spreadsheet that calculates the interest based on deposits and withdrawals (and includes statement savings templates) and our account registers. I’m a BIG believer in learning with paper, pencil and cash first.
Read about how we use account registers (with bigger lines just for kids).
When your kids (or you!) want to buy something but don’t have the funds straight away, start with a short-term savings plan.
We think that paying yourself first is really important. We try to do that with at least 10% of all incoming money. Straight to savings. Read about it in the 10-10-80 plan.
And my favorite, read about how money makes money and we reward savings.
Contact me! I’d love to hear from you.