Browse Tag: communication

Teaching Kids to Spend - Generic vs. Regular - notebook with pencils

Teaching Kids to Spend: Part 1 – Generic vs. Name-Brand Products

The wheels have been turning since I wrote my last post, If I Could Teach My Child Just One Financial Lesson, It Wouldn’t Be To Save (spoiler: it would be to spend wisely). And I really enjoyed doing a five part series on saving, so I thought, why not do another series on spending?

J and I have been going to various stores and doing some comparison shopping, so the first three posts will be the results of our research, including practical advice and lessons about spending. Specific topics will include buying generic vs. name-brand products, looking at price differences between stores and buying in bulk.

Post four will include other ideas for teaching your kids about spending, and the last post will be more philosophical in nature — do I really need to buy this?

Generic vs. Regular

When I first thought of this idea, I mentioned it to J and he said, “What does generic mean?”

Wait, what?

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If I could teach my child just one financial lesson, it wouldn't be to save

If I Could Teach My Child Just One Financial Lesson, It Wouldn’t Be To Save

Last week I saw a tweet from Adam at Money Savvy Daddy that said, “If you could teach your child just one money/financial lesson… what would it be?”

I love to learn what people are teaching their kids so I was eager to read the responses. Not surprisingly, many people said, “Save!” Saving is definitely important, but saving without context… how can that be successful? What are you saving for?

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Header image for making your money work harder part 5 keeping track

Having “The Talk” About Making Your Money Work Harder: Part 5 – Net Worth

Welcome back to our five part series on making your money work harder! This series is part of a BIG conversation I had with J where we talked about other ways to invest his money beyond the Bank of Mom.

In part 1, we talked about savings accounts, in part 2 savings bonds, in part 3 CDs, in part 4 stocks and today in part 5 we’ll wrap up our discussion with keeping track of your net worth.

Paying attention

It sounds a little pretentious, doesn’t it? Keeping track of your “net worth.” Like something only rich people do.

But think about this. If you go on a diet, do you log your meals and calories? What about if you’re training for a marathon? Would you write down your runs and workouts? And if you want to cut back on social media? Would you track your time?

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Header image for making your money work harder part 4 stocks

Having “The Talk” About Making Your Money Work Harder: Part 4 – Stocks

Welcome back to our five part series on making your money work harder! This series is part of a BIG conversation I had with J where we talked about other ways to invest his money beyond the Bank of Mom.

In part 1, we talked about savings accounts, in part 2 savings bonds, in part 3 CDs and now for part 4, my favorite conversation, stocks.

What are stocks?

A stock is a piece of a company. People buy stocks (or shares) of a company, and with that money, the company can grow their operations. When you own stock in a company, you actually own a piece of that company!

How much does it cost to buy stocks?

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