money.cnn.com — Tired of battling hordes of shoppers for Tickle Me Elmo, the latest Xbox 360 game and other hot holiday items that feed your children's rampant consumerism? Eager for a present that gives your kids a financial jump on life and is still, well, fun?
Nov 28, 2006 View in Crawl 4
artifezNov 28, 2006
I agree with the IRA and the 529 but the Sims? Come on...
ed2hipNov 29, 2006
here's some info. <a class="user" href="http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P147209.asp">http://moneycentral.msn.com/content/Savinganddebt/Savemoney/P147209.asp</a>i suggest you check it out, it's well worth it
Closed AccountNov 29, 2006
Does anyone know if that's the book where the kid trades his dollar for 2 quarters, because 2 is more than 1, and then for 3 dimes, because 3 is more than 2, and then for 4 nickels, because 4 is more than 3, and then finally for 5 pennies, because 5 is more than 4?It didn't teach me much than I already knew.
Closed AccountNov 29, 2006
I think the basics of "If you save, you can get what you REALLY want" is something that either gets through to a child, or doesn't. Some people 'get it', others don't. Which is fine.But the more lacking thing is will power. Sure, a lot of people know they should save, but do they have the will power to do it? Or more specifically, do they know when to treat themselves, and when to hold onto the more so they can treat themselves to what they REALLY want?It's pretty basic logic, but then again I know people who are 40+ that just don't get it at all.
barnonskiNov 29, 2006
Awesome... We're going to have a bunch of little J.P. Morgans running around.
eatdontsendspamNov 29, 2006
@bickdiggThank you for pointing out a simple typing error. Your comment was a very useful insight.
palmettoNov 29, 2006
excellent.. I collected coins as a kid and loved silver dimes.. now, I have those dimes in case the economy crashes..
patentedDec 9, 2006
@beotch"What is the proper way of being rich and why wouldn't I want it? Most rich people inherited their money. "Do you have statistics for such a boldly contrary statement to what is considered common knowledge, or did you just build yourself a soapbox to make a half-baked political diatribe?
melissaselbyJul 17, 2009
Teaching kids how to earn money, invest it, give it away and spend it wisely teaches them the value of money. Easy to say they shouldn't be bothered with it too young, but the earlier they learn to value money and practice smart principles around money, the less financial issues they will be likely to run into later in life. The way we treat money and our mindset around it, like everything else comes from our perceptions around it as children, and how it has been conveyed to us in our lives. Not only would you want your children to be financially secure (doesn't mean you desire for them to be millionnaires) but being able to properly manage money later in life will also help to keep "money stresses" from sabotaging their personal relationships/married life later on.
melissaselbyJul 17, 2009
I get where you are coming from with that but if you can teach them about money through fun games that they see only as "toys" anyway, they will actually learn amazing skills and concepts to take into later life without even realising it. As a kid, they aren't going to be worrying about money - they will see it as fun if you teach it the right way. But it definately will stop them from every having to worry about money in the future?My thoughts anyway...I dunno either...
melissaselbyJul 17, 2009
ah, you're a genius! Thanks for the great idea. My 6 yr old is a little money savvy and business minded already - I could certainly get away with doing that for him - he'd probably prefer that than a gift, because then he could buy himself something small and invest the rest into the business ideas he has!! hmmm, thanks again
booksforftcAug 23, 2009
This is really good advice. I have a two year old and she will learn at an early age the value of money.