We’re constantly scouring the Internet looking for articles related to family finances and teaching kids good personal finance habits. You can visit the FamZoo delicious page to see our ever growing list of family finance bookmarks. Each week, we pick our favorite articles from the previous week and post them here.
Intergenerational relationships, perspectives on teen clothing allowances, and teaching kids about savings are on tap this week:
In this short essay, Samantha, a mom of two, reflects on the passing of her grandfather. Thought provoking topics include intergenerational relationships (something I wrote about in a 2006 post), money & values, entitlement, and the impact of technology on the family.
My favorite quote in the post was this one:
The best gift we can give our children is the foundation of life lessons that will make them great people.
Whether you agree or not with Samantha’s take on each point, all of these topics are good food for thought for any parent.
Are you thinking of using a clothing allowance as a way to teach your teen about spending within a budget? Then don’t miss this article. Be sure to scan through the comments for lots of great tips and (sometimes divergent) opinions.
By the way, I highly recommend doing this with your teens. It’s been a great learning experience for ours.
Gail presents three simple, yet great, points to make with your kids about saving. Excellent advice for parents as well. She tops it off with some helpful tips on matching techniques to motivate your child to get in the saving habit. Read her article here.