Cyber-shopping safety tips
Over the holidays I did a lot of shopping online. It’s so easy these days. Kids, however, don’t have access to online payment tools, so parents often help their kids make these purchases by using their own accounts and having their kids pay them back.
Unfortunately, recent research shows that kids often purchase online without their parents’ consent. A sort of “buy now – ask later” mind set. Or, if they expect you’ll say “NO” they may simply hope you don’t check your credit card statement.
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The gift of giving
’Tis the season for mistletoe, dreidels, the late-night runs to the toy store after the kids have gone to bed. Ahh, the holidays….
I remember the first year that my children received an allowance. That meant they could save and shop for Christmas gifts on their own for the first time too.
The gaming game
Childhood is the training ground for adulthood. In fact, that’s the whole premise of the BMO SmartsSteps® for Parents program. It would seem logical then, that online games for kids that include virtual money transactions would be an interesting and engaging way for them to practice some money skills. In fact, we have activities for kids in The Zone because we know how much children like interactive activities online.
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Beginning to borrow
We get so hung up on teaching kids about saving money that we end up treating all borrowing as bad. In reality, most people will have to borrow money at some point in their lives. Young adults, newly launched from their parent’s home are especially at risk for getting in debt over their heads. Learning to borrow wisely is an important part of our financial education. Building up a good credit rating proves to lenders that you are responsible and will pay back the money.
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Accountability lessons and the case of the missing lunchbox
Ah, September! It’s back to school and the beginning of filling the lost-and -found box in the school foyer. Knapsacks, lunchboxes, coats, ball caps – all mysteriously sucked up from the schoolyard and hallways of our nation’s schools. All gone. All paid for by the bank of mom or dad.
All those lectures on how little Spencer needs to be more mindful in the future as you promptly go buy a replacement – well, they don’t seem to be to improving matters.
Hmmm…..
Money lessons from the movies
The lazy, hazy days of summer are the perfect time for your kids to curl up with a good book or hide in the dark and watch a movie. Both literature and film offer wonderful ways of teaching children some of the big issues of humanity, like love, loss, and yes… even financial literacy!
Let’s face it, money is symbolic and is involved in grander concepts like greed, class, power, poverty, philanthropy and more. These are big money topics.
Driving Miss Thrifty: Steering teens toward fiscal responsibility
“Mom, can I get a ride over to Cody’s house? … Mom, can you pick us up at the Mall?” Sound familiar? It’s the classic complaint that we parents are nothing but chauffeurs to our kids. But honestly, besides the cliché, parents today really do have more reasons to complain.
Soaring gas prices and concerns over our carbon footprint have us literally putting the brakes on driving our kids around willy-nilly. I have thought about declining rides I’d previously said “yes, no problem” to, but didn’t want to stir up a revolt.
