Kids and Money

I recently discovered a great website, MomTV. They show live shows on various topics where the moderator has a webcam and invites others to join either with webcams or with in the chat room.

I recently caught Vicki Hoefle's show, "Your Family, Your Solutions." Vicki is a mom to 5 kids. Some are out of the house and others are in high school. On July 14, she had an amazing show on how to teach your children about money. I would encourage you to watch it, but it seems they have been having techincal difficulties with recording that particular night's show.

Here are the main points:

-Start giving your kids money as soon as they stop putting it in the mouths (age 3ish).
-Give the allowance as $1 per year of life. 3 year olds get $3 per week, 4 year olds get $4 per week. This will eliminate the "Please buy it for me mommy!" arguments while you're shopping.
-Allow them to save some, spend some, and give some away.
-Don't withhold due to behavior or chores. Always give it to them so they can learn how to manage it.
-Watch your child squander it the first several weeks. In time he/she will learn that money has power and if it is saved it will go further.
-Don't hold their money for them. Make them responsible. If they leave it somewhere, put it in a vacation jar for the family. This teaches responsibility.
-Make a family rule that for every penny spent on candy/soda, a penny must be put aside for the dentist because mom and dad don't pay for cavities.
-When your child is old enough to handle their money well, get them an ATM card. (The bank will say they don't do it for kids, but they will if you press them.) This starts teaching them about credit without causing damage. (After all, they watch you whip out the debit card all the time!)
-When your child hits age 12, cut allowance in half. Make them earn the other half each week. This teaches work ethic.
-When your child reaches age 14, cut allowance completely. Now it is time for them to seek out ways to earn their own income.
-For children who have expensive tastes in clothing, tell them what the family contribution will be. Anything above that will be up to them to cover. Ex: Our family offers $30 toward sneakers. If you want something more expensive than that, you can cover the extra cost.
-Tell your children early on that you do not lend money to people you love as it causes problems. Teaching this to your child at age 3, 4, and 5 will prevent them from asking for large sums of money when they are older. They know the family rule.

There are so many other gems in this webscast that I have not captured here and Vicki does a much better job at explaining how this works. She also gives great examples of exactly what to say to your child to help them learn about managing the money they are given.

While I don't always have the same opinions and beliefs as Vicki, I love her idea of teaching kids about money. We are still a bit off from that with String Bean, but I'm seriously considering implementing this method in the future.

Finds from around the Web

Don't forget to enter our giveaway which ends 11/30 at noon!

Here are some things I found while surfing around the internet this past week. May you enjoy a Saturday of good reads and a few laughs.

Digital Photo reads:

• Here are some great photography tips that are great for Moms from Marcy Massura at Blissfully Domestic.
• Get great family photos with these tips from Simple Mom.

Parenting reads:

• Make a week's worth of kid-friendly meals a guest post from Erin of $5 Dinners on BabyCheapskate.
  
• Why you should respect other parent's parenting judgement from Heather at Not a DIY Life.
• How to pick out fruit for your kids from Lara at Parenting-Blog.
• Thanksgiving projects for little hands from Joy at Stay-at-Home Missionary.
  

Just for fun reads:

• Enter this Ugly Christmas Sweater contest from Melanie at Big Mama. (And be sure to check back and have some chuckles!)
• Try this fun word-verification game with my friend Christy at WARNING! Sleep-Talking Zone.
• Read about David Thorne who submitted a spider drawing in lieu of payment on an account and the antics that ensue.

Tips to Help Your Child through Stranger Anxiety

photo by sware

So, Miss String Bean is now in the full-fledged stage of stranger anxiety. We are getting ready to visit family for Thanksgiving and I'm expecting some drama and lots of tears. Here are some tips on how to handle stranger anxiety as you visit relatives this holiday season.

1. Acknowledge your child's fears are real. For most children, going through some sort of stranger anxiety is a normal developmental stage. Others have a completely normal anxiety or fear of new situations for most of their childhood. Acknowledge your child's feelings and do not force your child into a situation where he or she will become more stressed.
2. People who are familiar to you are not always familiar to your child. They are strangers. Don't expect your child to welcome kisses and hugs from people he/she does not know. After all, you probably do not kiss or hug strangers yourself! (Even if your child has met them before, they may not remember them!)
   
3. Warn relatives of your child's stranger anxiety. Great Aunt Sue wants to snuggle with your precious pumpkin. Imagine her shock, surprise, and feelings when your bundle of joy breaks out in tears screaming for Mommy. Give your relatives a heads-up that your child, although very loving and quite entertaining, will need a few minutes to get to know them (perhaps getting to know them again) before wowing them with all his or her charms.
4. Allow your child time to be come familiar with his or her new surroundings. If you give your child a few minutes to become familiar with the people and the situation they are in, many children will warm up and begin to work the crowd just like at home. Give them time.
5. Bring your child's favorite toy and let that new friend play with it first. String Bean has a favorite toy of all time-Curious George. We are bringing that guy with us to be an ambassador to the new family members she'll be seeing. If she sees that familiar toy, she will be more willing to go to that new friend and get to know them since her mind will be on George instead of on who the wacko is with the deep voice and the beard.
6. Remember your first priority is your child, not your guests. Your guests are adults and will understand that your priority is to comfort your child and look out for their well-being.

I'd love to hear your tips for curbing anxiety in little ones!