Vanity vs Virtue, FinLit As Parental Love, Frugal College Tips: Family Finance Picks #70

This week, my favorite family finance picks are:

What is Your Twist — Kim Kardashian or Ozzie Nelson?

by Sam Renick on Sammy’s Save & Song Club

"The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise application." --Miguel de CervantesSam highlights three recent vanity stories that are great fodder for meaningful money and values conversations with kids. One interesting discussion angle might be alternative uses for the same amount of money. For example, in the Kanye West and Kim Kardashian case: $750,000 buys four gold plated toilets, and it also buys 75,000 malaria preventing mosquito nets. Hmmm. The Cervantes quote comes to mind: “The gratification of wealth is not found in mere possession or in lavish expenditure, but in its wise application.”

That said, many folks who purchase high end luxury items are also extremely generous and hard working, so Sam’s point about taking care not to pre-judge is a great topic too.

Discuss on FaceBook.

Teaching Kids About Money: A Call to Action

by John P. Schmoll on Frugal Rules

John pens a thoughtful post full of excellent points and practical tips for teaching your kids about money. Among them:

  • Start early, teach often.
  • The grocery store is the perfect venue for consistent, repeated wants vs. needs discussions.
  • Start a change jar for a specific goal — like vacation spending money.
  • Involve your kids in real financial discussions as often as possible and when appropriate.
  • It’s a moral imperative to teach our kids how to be responsible with money — doing so is an act of love.

Discuss on FaceBook.

8 Financial To-Do’s for College Freshmen

by Tisha Tolar on Wisebread

Prepaid Cards: Great for CollegeTisha shares excellent suggestions for college-bound kids. The headlines:

  • Don’t over-shop for your new dorm room.
  • Work out a college budget.
  • Save some portion of any on-campus earnings.
  • Understand credit cards (My advice now that I’m on my third college bound kid: try prepaid instead!)
  • Take charge of your own finances instead of delegating to your parents.
  • Live within your means, not your new-found college buddy’s.
  • Guard your personal info — even from your roommates and BFFs.

Discuss on FaceBook.

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 3,319 now!

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