Everyone alive today knows that we need money to buy things like clothes & food or to enjoy things like a night at the movies or a trip to Disneyland. But before the world agreed on using money as something to be exchanged for the thing that we want, the world used a Barter System. What is a Barter System? In simple terms, a Barter … Continue reading Why Do We Need Money?
We do not give our children allowance because we believe money should be rightfully earned. Now before you think my kids have to earn every single cent for their living, allow me to say that we do give them pocket money to school because that is a necessity. As for toys, sorry, that’s definitely not a necessity. So they will have to earn and save … Continue reading Why We Don’t Give Our Kids Allowance – The Importance of Work
My second son tried out basketball with some neighbourhood friends last week and oh boy, he was hooked when he managed to shoot 2 goals. He came home letting us know that he wanted a basketball. I was inclined to make him wait. I didn’t want to promote this instant gratification thing in our family whereby a child asks for something and he gets it … Continue reading Get Real With Money: I Want A Basketball [Show Kids How To Spend Within Their Means]
After lunch, the kids happened to want to visit a toy store today (Kiddy Palace). As we agreed to go in without buying anything (because I wasn’t going to buy them anything), my eldest said he wanted to check out if there’s anything he can buy with his piggy bank money. He has around $35 in savings. I said okay and we entered the store. … Continue reading Get Real With Money: Saving Up for X-box or Smartphone [Delayed Gratification]
What are stocks? Let’s say you really like McDonald’s and you want to be one of the many owners of The McDonald’s Corporation, you buy their stock MCD from the New York Stock Exchange (NYSE). Remember how you received a certificate when you graduated from kindergarten, which was proof you finished all your lessons? Well, when you buy stock from McDonald’s, they give you what … Continue reading Teaching Kids About Stocks In Investment {With Printable}
Mother Hen, Her Eggs and The Boy A story about the importance of diversification – for kids an original story by Investor Kiddo There once lived a little boy on a farm with his family. His favourite thing to do was to visit the chicken coop every morning after breakfast. He wanted to see if the hen has laid any eggs. But more importantly, … Continue reading Explaining Diversification to Kids {With FREE Worksheets}
A great introduction to the world of finance, an especially important subject to learn in today’s economy. Learning doesn’t have to be boring! Cashflow For Kids <– CLICK TO GET IT Suitable for Ages: 7-14 years old What Players Learn: How to make money work for them. They learn about assets and liabilities. Monopoly Junior <– CLICK TO GET IT Suitable for Ages: 5+ years old What … Continue reading 14 Board Games About Money {The Complete List}
Warren Buffet was asked in this interview featured on Forbes: At what age should we speak with our kids about being smart with money and investing? Buffett: “It’s never too early to help kids understand about money. Whether it’s understanding the cost of the new toy they want, or the value of saving money. Kids are exposed to money matters from a very young age, … Continue reading Simple Ways to Teach Kids About Investment {Free Printable}
