Kids and Money
A recent article in the Wall Street Journal had some ideas for teaching kids about money and I’m always interested in what’s available. 1.) The Millionaire Kids Club – This series of three books is about four friends with different money ‘personalities.” Sandy saves, Dennis donates, Stephanie spends and Isaiah invests. The series is for kids 3-12 years old. Garage Sale Riches, Putting the ‘Do’ in Donate and Home Sweet Home are available for $12.95 from Amazon, msgen.com and other sites. Home Sweet Home is about a family that losses their home in foreclosure, so I would probably not start off with that volume unless you are looking to help kids understand current events. 2.) Big Pay Day – This board game by Winning Moves, simulates ‘real world’ finances with bills in the mail, investments and getting paid. I am not a game person but this sounds like an easy way to give some financial instruction without pain! At just $14.98 it’s a good deal cheaper than Rich Dad, Poor Dad’s expensive game that I reviewed last year. You can see the game in action on YouTube, 3.) My Smart Budget Kit – At $49.95 (with a 17% discount) this is a more expensive investment in teaching kids about money and it looks complicated, but the organizer has gotten great reviews from parents who were a bit skeptical before handing it over to their kids. Meant for older kids, tweens and teens, the My Smart Budget program helps kids fine tune their allowance to save for clothes, games, candy, as well as charity and savings. One parent wrote that she is thrilled with the outcome as her son immediately ‘got it’ and is already budgeting for a large item, which he had not done before. Available from Glamma Toys at www.glammatoys.com or from www.mysmartbudget.com . Marion R. Syversen, MBA – PresidentNorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.com Check out or website that includes weekly streaming videosWWW.NorumbegaFinancial.com Voted Bangor’s Best Financial Planning Firm 2008 by Market Surveys of America In compliance with requirements from FINRA, all e-mail sent via the WSFG domain will be subject to review and archiving by Wall Street Financial Group, Inc. Email management, archiving & monitoring technology powered by Smarsh, Inc. Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Norumbega Financial and Wall Street Financial Group, Inc. are separate entities, independently owned and operated.