Archives for General

Needs and Wants: Create guiding principles

Understanding the difference between Needs and Wants is crucial to managing money.  When given extreme examples, children can easily distinguish between a ‘Need’ and a ‘Want’.  For example, children know they need food but they want toys. At these extreme ends of the spectrum is easy.  It becomes blurred when we start moving into the middle ground – a ‘need’ may in fact, be a ‘want’.  Take for example a digital TV.  Today, a TV is considered a ‘Need’ in many households in
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Who pays for junk food?

In many households today, children are consuming way too much junk food.  As parents, we know it’s not a good idea to spend money on junk food – after all, we have worked hard for our money.  But when the kids ask us for convenient junk, their unrelenting pester power wears us down and we eventually give in with a sigh “Yes, that’s fine.” Money as a valuable commodity Teaching kids good money habits involve teaching kids the value of money.
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Opportunities to earn money: creativity

Opportunities are everywhere and the making of an entrepreneur is the ability to find these opportunities.  The earlier we teach our children to see opportunities the better will be their future.  I believe creativity is the cornerstone in finding opportunities to earn money.  Guess who are the most creative people on this planet??  Yep – CHILDREN! Children spend much of their childhood creating – if they aren’t they ought to be.  Whether they are painting, drawing, singing, writing, playing pretend
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Why children should ALWAYS have savings goals to work towards

I had a conversation with a friend the other day. She told me her children will not do any housework – not even when she pays them $0.50 for the chores. She explains it’s because $0.50 doesn’t go far these days, there is nothing that a child can buy with such a small amount, so it’s not enough as a motivator. In contrast, my own children often jump at the opportunity to do house work for ANY pay. So it
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The value of Children’s Books

I am writing a biased post today. It’s biased because I am a self-confessed book worm. I LOVE books! I can get lost and be absorbed in books for hours! In my first resume, reading books was at the top of my list of ‘Hobbies’. It remained there until my career counsellor told me that it conveyed a message to prospective employers that I am a loner and unable to communicate with other people. My love for reading started when my
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