Girls for a Change builds a trail!

price — Tue, 31 Aug 2010 20:37:42 +0000

: Core members raking the trail bed.

Girls for a Change core committee members picked up their rakes and shovels to help improve a trail bed with Gallatin Valley Land Trust. The girls moved more than 2.5 cubic yards of dirt!

Money Smart Kids

manifest — Tue, 24 Aug 2010 20:00:43 +0000

How do kids learn about money and not end up strapped with credit card debt before they are out of college? They learn it from you, their role model. Our society on a whole has a very difficult time talking about money. It is rude to ask how much someone makes, we argue with our spouses over budget planning/spending, and we would sooner die of a heart attack then ask someone to support our charity.

When should I start talking money with my kids?

No doubt our kids have a difficult time making sense of their own spending, saving and giving. But it is never too late to start talking and teaching – or too early for that matter. Money experts agree that children as young as 4 can start receiving an allowance and learning about money. A great way is through a weekly allowance so they can learn between needs and wants. As a general rule of thumb, children receive $1 for each year they are old per week. So your 4-year-old will get $4 per week. There are several different ways you can decide on how they “earn” their allowance – chores for pay, hands off, or a compromise of the two. A good resource for determining an allowance plan is available at: www.kidsmoney.org.

Teaching kids to save, share and spend

Whatever plan you decide upon, I suggest utilizing the three S’s for how they use their allowance:

Save – set aside at least 10% to save for something that costs more than their weekly allowance.

Share – set aside 10% to give to a cause. Ask your child what is important to them. It’s easier for children to make monetary contributions to things that they enjoy or want to help. Research together different organizations in your community. Make sure to be a good example and have your child see you supporting your favorite charities and tell them why they are important to you.

Spend – allow your child spend the leftover funds on the things they want, such as toys, entertainment, etc.

Want more information about kids and allowances? Visit the following sites:

Author Tiffany Sandholm, Development Director with Thrive

Share your parenting tips below!

The Thrive blog thrives on discussion! We’d love to hear your thoughts on allowance and teaching our kids to save and spend responsibly. Start the discussion in the comments section below.

How do Thriving Kids Affect You?

manifest — Fri, 20 Aug 2010 21:06:54 +0000

Watch the new Thrive video then tell us how thriving kids affect your community.

Thrive