POSTED BY Bill Dwight ON Wednesday, July 16, 2014 |LEAVE A COMMENT!

How to Offer Extra Job Opportunities to Your Kids

Washing the Car for Extra Pocket Money

Diane, a FamZoo mom, sent us the following question:

I would like to just supply a list of chores (with an associated value) that my kids can do whenever they want and do them multiple times. So, I would put ‘one load of laundry=$2.00’ and each time they do a load of laundry they would get $2.00 deposited. They might do two loads one day, none the next, one the day after, etc. Is there a way to accommodate this?

Setting up a checklist of optional extra jobs that kids can knock off from time to time to earn some extra bucks is a popular technique among FamZoo families. Parents pull it off using the rewards, repeat frequency, and expiration options of FamZoo checklist items.

Here’s how you can set up Diane’s laundry job opportunities:

POSTED BY Bill Dwight ON Wednesday, June 04, 2014 |2 COMMENTS

How to Put the Squeeze on Your Fattest Money Habit

Put the squeeze on your fattest money habit.

What’s your fattest money habit?

Come on, you can be honest. Everybody has at least one discretionary spending indulgence that deserves a good belt tightening. Dining out? Clothing? Entertainment? Online shopping? Morning lattes?

It’s easy for those discretionary expenses to get lost in the noise of all your other transactions. By the time you tally everything up at the end of the month (assuming you’re doing that — wink, wink, nudge nudge!), even that seemingly innocuous habit can add up to a big number. The damage is done. As Ben Franklin wisely said: “Beware of little expenses; a small leak will sink a great ship.” So, you vow to reform next month, and the next month, and...

How do you break the cycle? Here’s a very simple recipe for isolating and trimming your fattest money habit.

POSTED BY Bill Dwight ON Friday, May 09, 2014 |LEAVE A COMMENT!

Smart Money, Smart Kids: Brilliant Blueprint for Teaching Your Kids Good Money Habits

Smart Money, Smart Kids: An brilliant blueprint for teaching your kids good money habits.

As the founder of a money management site for families, I’ve been studying and implementing strategies for teaching kids good money habits full time since 2006 (and as a father of 5, I’ve been dabbling in the area long before then). Suffice it to say, I’ve read just about everything written on the topic of kids and money. After reading Smart Money, Smart Kids by Dave Ramsey and his daughter Rachel Cruze, I can confidently say it’s now among the top two on my recommended reading list for parents (the other being The First National Bank of Dad by David Owen).

Smart Money Smart Kids is wonderfully practical and thoughtful. Its concepts are conveyed through real stories that keep the text engaging and memorable. Even if you don’t consider yourself a Dave Ramsey devotee (I’ll admit that a few of his stances drive me crazy) or you aren’t coming at this from a Christian perspective, you’ll get a lot of value out of 99% of this book. At minimum, reading the book will force you to systematically think through how you are teaching (or plan to teach) your own kids about money at each stage in their development. I guarantee you’ll find the book helpful if you’re interested in teaching your kids good money habits.

Some of my favorite themes from the book include:

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