My saving practices were fugal and safe. That game along with my Mother's other life lessons taught me the difference between Needs and Wants. It gave me life options. If I wanted to attend college or not. If I wanted to go left or right in life. And going left or right is a double meaning. Click any MONOPOLY LINK in this Blog and buy the game. It's a great learning lesson for your young ones.
The reason for this blog is to get in your head that financial wealth begins when people are young. You can be born rich and go bankrupt. You can be born rich and struggle with keeping the money. If you don't maintain good practices starting when your young, you'll have a lot of catching up to do. Don't you want to retire early? You still have time.
I'm still catching up. Even though I had a good mentality for money, doesn't mean I did good things with it. I regret years and years of how I saved money, spent money, used money and knew about money. It wasn't good at ALL! And this is why I'm so PASSIONATE and share with you about Finance. Why I'm so excited about saving, investing and doing right with your hard earn income.
Most of my blogs lean towards getting you out of debt, saving, investing and just being SMART with your money. I'm giving out free information so you'll be knowledgeable. Please check out my ohter blogs.
Below are ways you can teach your kids about finances. Besides Monopoly, there are various other FUN ways to teach your young children or family members about MONEY.
Your PAST is their FUTURE
Teach your kids about your money first. Tell them about your first job. Did you work at a fast food establishment? Did you work for your parents for your first gig? I bet you have stories of your first or any other job you had. Your kids need to know your history so they can move forward. Sit down with them, make it fun. Get the popcorn! And SHARE your FIRST JOB below in the comments with a funny story.
My first taste of employment was so illegal. Nothing like selling drugs or nothing, but I did forged my birth certificate to work for the Newspaper. I believe you had to be 12 back then to sell papers on the street. I was like 9 or 10 and worked for the paper. Yes, I was a hustler baby! Then I found out if you sold out the paper daily, you acquired a bonus. When I did the math and it was practical to just buy all the papers, give them away and collect my check with a bonus.
Then when someone in the neighborhood needed help with their yards, groceries and snow removal, I was on the scene. They would call my house phone with the rotary dial and ask for me. My mother would be like who are all these people calling this house. I would be like, the same people that provide me penny candy, chips and juice money when I want it. Who REMEMBERS Penny Candy? LOL!
PLANT an Idea
Go to Home Depot or some plant store with your child(ren) and buy seeds that will eventually grow. This will show them that it takes patience, care, responsibility, similar to growing a plant, flower or tree. Money doesn't grow on trees, but it takes years to blossom with the same techniques of growing something. The youngsters will enjoy the life lesson and spending time with you. It's a WIN, WIN!
Start a Biz Kid
Why not start a small business with your kids? Teach them what it takes to not only start, but to maintain, research and keep it functional. Even if it's a Lemon-Aid stand or some type of arts and craft. They will appreciate what you teach them and take your information far. Make sure you teach them that you have cost that will need to be subtracted at the end of the day. You may need to buy cups or other materials. It will teach them about all profits are not 100 percent. This will give them a sense of pride when they earn their own money. And they will respect your money for sure after this lesson.
I regret not starting a business with my daughter sooner. I procrastinated on numerous occasions, but I just started a clothing/apparel line last year for both of us last year. Hers is called Cincerly Yours and mines is Cevere's Creations. Our joint company is called Cincerewear&Ceveregear. We have links below. Please support if you can. Thanks in advance.
Piggy BANK
Get a piggy bank for the little ones too. When your walking around doing errands with them, tell them to look for loose change around town. Tell them whatever you fine is yours. See how much they collect in a day. And once the bank starts to overflow, get them a savings account online being recommended, because of the higher interest rates. Some online banks give back 3%. And I'd like to celebrate that I found 11 cent from my walk today.
BEST To INVEST
Teach the younger crowd how to invest with all the money they made above. Start them in the Stock Market young as can be. Teach them about dividends, 401K's and 403b's. Make if interesting of course. Let them know owning stock is owning a company. Have them invest in things they are interested in like candy, amusement parks and their favorite television shows. They can own parts of Snickers, Six Flags and Peppa "PIGGY" Pig or Sponge Bob. And you know this MAAAAANNNN!
Please support my daughter and my #Merch below. Subscribe, share and comment to My YouTube Channel as well. I review Hip-Hop Albums. Thanks in ADVANCE.
Cincerely Yours,
Marquis J. Walker
Father/Blogger/Fashion Curious
Marquis J. Walker
