7 Fun Ways To Teach Kids About Money (by Daniel Britton)

Financial Fluency – 7 tips teaching children the value of money

It is a widely held belief that the earlier children learn a foreign language, the quicker they will be able to pick it up and achieve fluency. The same is also true when it comes to teaching children about money and developing financial fluency. Teaching children from an early age how to save and budget in a fun and educational way can lay the foundations for sound money management later in life.

A University of Minnesota study indicates that with as little as 10 hours of financial education, teachers and parents can positively affect children’s future saving and spending habits.

A good place to start teaching children about money is by demonstrating that money is used in exchange for goods and services, showing them that in making their own purchases they are in fact trading with the shop owner and receiving the product in exchange. As an example, next time you are shopping, try to have the exact change for the product and give it to your child. Let your child hand over the money to the cashier and after you have left the shop, have a chat about how the money paid for the item.

It is important to always approach teaching children about money with openness and honesty, giving a constant and clear message. Explain to them why they can or cannot have certain items they wish to buy. You can’t always say yes to a request for money and if it has to be a no, it does few favours being over indulgent, but equally the ‘because I said so’ clause has little educational merit.

Before long your child will have a basic understanding of money. When this happens you may wish to start explaining the bigger picture. You might consider showing children how the whole family benefits from money via a visit to the supermarket. Once there pick out two similar products, perhaps a well known brand and an own label and allow the child to make the choice. If they choose the supermarket’s own brand, allow them to make a further purchase with the saved money. This might be a useful starting point for a discussion about value vs. price.

Consider also the type of signals about money that your child picks up on. You may feel it's important to let your child know family money matters are private, and not for discussion outside the home. If however, as parents you talk in hushed tones over bills and bank statements, your child may deduce that finances are something to be secretive and furtive about. Similarly, if they pick up some stress and anxiety over money, this too is a value that can be carried forward into adult life.

A great fun resource for teaching money values are The Financial Fairy Tales books - see http://www.thefinancialfairytales.com for details.

7 tips to help teach children about money

1) Fun, fun, Fun - make a game of both saving and spending. If only spending money is fun then they will not associate any pleasure with saving.

2) Routines - When they receive money as presents or from the tooth fairy establish a routine, like putting some or all of it in their piggy bank or savings account. They will most likely take these traditions forward into their own families.

3) Consistency - If you pay pocket money in return for helping around the house make sure they actually do the work. Even very young children can be responsible for tidying away their own toys or clothes. It’s a good idea to pay a set amount on a regular day but encourage their entrepreneurial side by giving them the opportunity to earn more if they seek it.

4) Look after the pennies - Turning off the lights, saving their pennies and giving small donations to charity collections are small things that they can do to create positive habits which may last a lifetime. Ensure that you explain why you are doing it and what the benefits are. Charitable giving can illustrate to your child that there are others less fortunate and introduce the idea to be grateful that they have more than enough.

5) Consequences - When your children ask for something, rather than say no. Ask them if they would like to buy it from their own money and explain what the consequences are. You may find that they are more reluctant to spend their own money than they are yours!

6) Praise, praise, praise - We may learn by our mistakes but by praising we reinforce positive behavior and will encourage children to do the right thing out of choice ‘because it feels good’. This can be applied to saving, spending wisely and giving to charity.

7) Spend and save - when your children are receiving pocket money, teach them to save either some or all of it. It is always a good idea to let them spend a little however, as this encouragement will stand them in good stead later in life.

About The Author

Daniel Britton is a writer and educator with a special interest in financial education and enterprise. He is the author of the Financial Fairy Tales series of books for 5-8 year olds, see http://www.thefinancialfairytales.com.

Top Ten Nutritional Tips for Children (by Jason Horsley)

With video games, TV, computers, poor meal choices and the internet, children are facing a health crisis of their own. Children as a whole are less healthy than they used to be in times past. Diabetes-thought to be a mainly adult disease in the past has been on the rise among children. An obese child usually translates into an obese adult, which can lead to all sorts of health problems in the future, such as high blood pressure and an increased chance of suffering from a heart attack or stroke.

With this in mind, eFitness for Life has put together a top ten list of nutritional tips for children.

1. Set a good example and keep your child active. Children learn by example, and if their parent is healthy and active, chances are they are too. Make activity fun for your child, and enrol them in as many sporting activities as you can afford.

2. Make sure your child eats their breakfast. Breakfast really is the most important meal of the day. It will give them the fuel they need throughout the day. Make sure you guide them towards making healthy breakfast choices, such as oatmeal or whole grain cereals.

3. Keep your child hydrated, especially if it is hot outside or they are engaged in a sporting activity.

4. Make sure your child gets enough protein and carbohydrates in their diets. Foods that are good sources of protein and carbohydrates include fish, poultry, meat, cheese, milk, beans or legumes.

5. Provide healthy snacks after exercise. Instead of handing them a chocolate bar, hand them a piece of fruit instead.

6. Provide variety in their diet. If your child is eating the same things day after day, chances are that they are missing out on some nutritional building blocks. Besides that, they will get bored with their diet. Instead, have them help you choose meals that are healthy for the entire family. This will help them make better choices in the future.

7. See a nutritionist. They can help a great deal when it comes to planning meals for you and your growing child.

8. Try to make home cooked meals as opposed to eating out. Fast food is generally not a good way to instill good eating habits in your child.

9. Throw out the soda and limit the juices. Soda is jam packed with calories and juices are typically full of sugars. Instead, give them water.

10. Teach your child about proper portion sizes. Most people eat way too much food at each meal, which contributes to massive weight gain in both adults and children.

Nutrition is important for both children and adults. Together you can make your house a healthier environment, where everyone can reap the benefits. Do not allow poor nutrition and inactivity to ruin your child's health. Together we can make a difference that will last a lifetime.

For those that need a little extra direction or motivation, visit e-Fitness for Life now and see how our online fitness and nutrition coaching programs can help you make the most of your investment, in the shortest possible time, with the greatest return. All done online! All done with certified coaches! Truly, the Future of Fitness! Stop by today and we will be happy to build your starter programs to ensure you learn to live longer, healthier lives.

About The Author

Jason J. Horsley is the CEO/Founder of e-Fitness for Life an online fitness and nutrition coaching solution that provides an affordable, convenient alternative to conventional, expensive dietitians and personal training. Through both e-Fitness for Life and Health and Wealth for Life, Jason is using his 15+ years in the fitness industry to help individuals across the globe not only look better, but feel better and live longer. The e-Fitness for Life team is made up of coaches/trainers around the US, working with clients throughout the world via the World Wide Web and the state-of-the-art e-Fitness Tracker software!

Did You Hug Your Child Today? (by Sudha Gupta)

In the race of life, at times our concerns over run the love for our children. It is not that the love diminishes but we stop expressing it. But hugging your child is as important as giving him meals, and at times even more important!

A hug for everyday: You don’t have to look for a reason to hug your child. Don’t wait till your child’s birthday or till he scores good marks or gets home a trophy. Hug him even when there is no reason. For no reason can be bigger than love.

A hug for every age: Where chubby little children get kisses and hugs like their daily dose of milk, it’s when children grow up parents think may be it’s alright to skip hugs from the routine. But children need and love hugs, at all age.

A hug for confidence: Your child will feel wanted, cherished, and important whenever you hug him. This kind of expression of love by parents adds to the child’s confidence and self esteem.

A hug for misunderstandings: When things go wrong, a hug can say more than a thousand words. This heart to heart non- verbal form of communication always works and is never misunderstood.

A hug for love: Cuddle your child, embrace him in your arms to show your love without having to say ‘I love you’. Your child will also learn to express his love and develop a loving and caring nature. When you love your child so much, you might as well express it too!

Your Promise Mean A World To Your Child (by Sudha Gupta)

Unfulfilling a promise made to a child is no less than breaking his trust.

Parents are the ones on whom the child depends for the fulfillment of his desires and needs. Their each promise is like a hope for the child. And whenever parents break their promise, it breaks the child's heart and shatters his trust. So don't take promises made to your child casually.

Make promises you can keep : When your child is not ready to go to school, you promise him that you'll pick him up after the school and eat at McDonalds knowing very well that you won't be able to leave the office. Don't make promises you can't honour.

Make a new promise incase the old one is unfulfilled : If due to unavoidable circumstances you are unable to keep your promise, explain to your child the reasons and make a fresh promise. Let him express his disappointment instead of saying 'It's not that big a deal!'

Don't promise everything or anything : Don't commit for things you otherwise don't give your child as a matter of rule. Make promises discreetly or else they lose their charm and you obviously won't be able to remember all the promises.

Use promises as 'reward' and not as 'bribe': Promise your child a holiday, a movie, a toy or a chocolate for respecting elders, scoring well, cleaning his room or being helpful but not for letting you watch the serial or chat on the phone.

Honor your promises to teach the child integrity of words : When you keep your word, the child learns the importance and value of make a commitment. He will get inspired to keep his promises made not only to you but to anybody. Next time, when he breaks his promise to clean the room or finish his homework, you can remind him with conviction 'Honour your promise!'

Parenting Tip : Make only those promises to your child which you can keep and make sure you fulfill them.

Are You an Empathic Parent? (by Toni Schutta)

If your child walks in the door with her shoulders drooping and her face forlorn do you say something like “You look sad. Come in and tell me what happened.”

Or if your child is stomping around do you say “You seem upset. Your feelings are important to me. Let’s talk.” Or do you tell your child to “Change your attitude, buddy!”

Perhaps you feel uncomfortable talking about feelings. You may have grown up in a home where it was better to keep a stiff upper lip. Or if you were upset you were told to go to your room. In other words, your parents probably didn’t teach you how to express your feelings in a healthy way. You were probably taught to stuff your feelings, especially “negative” ones.

The decision you need to make is, “Do I want to teach my kids to stuff their feelings or do I want to take the time to teach them how to talk about their feelings?”

There are lots of benefits to being an “empathic” parent i.e. one who helps a child name a feeling, listens carefully and repeats back what the child is saying while striving to understand the child’s point of view.

The most important reason is that you and your child will be closer. Every person in the world longs to feel understood by another and wouldn’t it be wonderful if you were that person for your child? Listening for feelings is the best way to keep your “attachment” to your child tight.

By modeling empathy you are teaching your child to care for other people, to be a good listener, to be understanding, to have compassion and to express feelings in a way that doesn’t hurt anyone or anything.

Your child is going to get better at managing his/her own feelings and will be more sensitive to the impact his/her behavior has on other people. (Children under the age of seven typically don’t have a lot of empathy, but you can still begin the teaching process.)

Often times using empathy can diffuse a potentially explosive exchange. If your child notes that you’re leading with empathy and trying to understand his/her point of view, s/he may reach out for the olive branch of understanding rather than escalating the exchange. You will also remain calmer if you’re listening with your heart.

A three-step process for using empathy and building understanding that I recommend is from the “EQ for Families” family education workshop at http://www.6seconds.org.

The VIE process has three steps:

1) Validate: Acknowledge the feeling(s), help the person know s/he’s “been heard.”

2) Inventory: Identify what happened and what choices have been made.

3) Expand: Develop multiple options of what to do next.

Here’s an example:

Let’s say that you have another family over and one of the children tells you that your 4-year-old has just hit his brother. You certainly don’t want her to hit anyone, so a time out would be a viable discipline option, but instead of doing that, what if you tried leading with empathy?

Parent: “Tell me what happened.”

Child: “The three of them were playing basketball and they wouldn’t let me play.”

Parent: “You were feeling left out?”

Child: “Yes! I can’t reach the hoop, so I was bored and left out. I wanted to play, too!”

Parent: “You wish they would play with you, too, and you felt left out.”

Child: “Yeah!”

Parent: “It’s hard to watch others playing and having fun and you’re left out.”

Child: “Yes.”

Parent: “Do you think hitting Charlie was a good solution to the problem of feeling left out?”

Child: “No…”

Parent: “I agree. Hitting hurts people. In our family, we use words instead of fists to solve problems.”

Child: “I know.”

Parent: “Let’s think of what other choices you had.”

Brainstorm together: play alone; find a game the four of you can play together; stay with the adults; tell them how you’re feeling; get adult help.

Parent: “What solution would you like to pick?”

Child: “Will you come with and help me talk to them?”

Parent: “Sure. Would you also be willing to do something to let Charlie know that you’re sorry that you hit him?”

Child: “Yes.”

So, what has your child learned?

a) She can talk to you about her feelings.

b) Her feelings now have a name.

c) You understand what happened.

d) That hitting is wrong.

e) That you can talk out a problem and find solutions.

If you’re going to use empathy, here are a few guidelines.

1) Remain positive. Don’t criticize the child.

2) Don’t reassure the child by saying, “It doesn’t matter. It will be OK.” Let the child reach his/her own conclusion.

3) Don’t attempt to solve the child’s problem for him. “I know just what you can do!”

4) Don’t punish the child for having angry/sad feelings by saying, “You go to your room until you can change your attitude!”

5) Don’t tell the child how s//he should feel or criticize the feelings she expressed by saying “You’re this upset about THAT?”

Instead, help the child name the feeling, explore what happened and develop next steps that could be helpful to the child.

Try using empathy at least once a day and your child will experience hundreds of times when you have listened with your heart and tried to connect with him/her on an emotional level. Think of how powerful this experience will be for both of you.

About The Author

By Toni Schutta, Parent Coach, M.A., L.P., Families First Coaching, Self Growth’s Official Guide to Parenting. Visit http://www.getparentinghelpnow.com to receive the free mini-course “The 7 Worst Mistakes Parents Make (and How to Avoid Them!) and to preview 17 on-line parenting classes that solve the most common parenting problems.