Here are my top three kids & finance picks from around the web last month:
I’m a huge proponent of teens getting summer jobs. A summer job is a critical skill and character building experience. It’s also a terrific excuse for parents to collaborate with their teens on one of my favorite family finance tips: the “Family 401(k).” That’s why I’m so dismayed by the increasingly dismal work prospects for teens these days. As John points out in his column, teenagers with enough “hormonal energy to power a small aircraft carrier” are a “bad bunch to have sitting around doing nothing.”
Yes, sadly, teen jobs are scarce, but maybe our teens just have to get a bit more aggressive about creating their own opportunities. John’s son did. Read about his free-lance car wash experience here.
Sam shares the early results from his allowance experiment with his 4 year old son Mikko. The post includes wonderfully concrete examples of how an allowance, when used properly, can help teach good money habits. The pictures are cute too. My favorite quote comes at the end:
We learn by doing. We teach, best, by coming alongside during the process.
I love it — well said and perfectly aligned with the FamZoo philosophy.
Read about Mikko’s early allowance adventures here.
Kathryn shares the anxieties her children feel about money and how the downturn in the American economy has fueled their fears. While there is unfortunate anxiety, I find most of her kid’s money perspectives extremely laudable. It’s a touching, thought-provoking piece. Read it here.
We’re constantly scouring the Internet looking for articles related to family finances and teaching kids good personal finance habits. You can visit our ever growing list of family finance bookmarks here. We’re up to 1,756 now!