Q:  How early can I start teaching my children about money management skills?

A:  Children as young as 5 years old will embrace the money system that you will teach them from The Kids’ Bank Book.

Q:  Should I buy a special 3 or 4 part bank for my child to use with The Kids’ Bank Book system?

A:  YES! - If you're not crafty or if you'll never get around to making your own. Otherwise, NO! Make your own! Why? Because there's no "perfect" money management bank for kids on the market today that sufficiently addresses all of the aspects that are necessary in a good money management bank.  The Kids’ Bank Book will tell you how to create a simple or intricately beautiful perfect bank for your children to enjoy while learning great wealth-building skills.

Q:  I don’t think I have good teaching skills, how will I be able to take what The Kids’ Bank Book says and teach it to my children?

A:  The Kids’ Bank Book has both step-by-step instructions of how to talk to your children when dealing with money, AND an easy-to-use system that your children will embrace quickly.  You’ll do less teaching and more enjoying watching them use their new money skills.

Q:  I am using The Kids’ Bank Book, and my child just received a ton of change from his grandparents, what do I do now?

A:  Incorporate this money in a manner that suits your child’s age.  For example, a 5-year-old’s attention span will not allow to divide up all of the coins exactly and equally into the four banks all in one night.  So, deposit a few coins into each of the four coin banks every time you sit down to do money with your child.  If your child is 10 years old, he may love spending a Saturday afternoon in his room sorting out all of the coins and depositing them into each bank equally by himself.  If your child is 16 years old, he may decide to count all of the coins, tell you the total, and ask you for the equivalent in dollar bills.

Q:  Okay, but what if the Bank of Parents doesn’t have the paper equivalent of the value of all of the coins?

A:  If your child is older and has totaled all of the coins or has divided all of the coins and wants you to convert it to paper money now, tell the child that you will either (a) convert it to paper money a little at a time, or (b) take all the coins (with the child) to the bank to obtain paper money, or (c) allow the child to choose whether to spend (a.k.a. waste) approximately 8% of his money the “fast and easy” way by using a coin-converter machine usually found in supermarkets.

Q:  I am using The Kids’ Bank Book, and because of various special events recently, my family has skipped our weekly “money day.”  How do I handle this?

A:  It’s okay.  In real life, and in dealing with money, nothing is perfect.  There are always unexpected circumstances, a need for adjustments, and surprise expenses.  Your situation is a perfect illustration of that reality.  So, again, it depends on your child’s age.  If your child is young, then she probably will miss it, but simply continuing the practice the following week will be okay with her.  If your child is older, she may ask for the prior week’s allowance and return on investment.  If so, simply do it, one step at a time, the next time you sit down on your regular money day. 

Q:  I am using The Kids’ Bank Book, and I want my child to start investing in some real life investments.  Do you have any recommendations?

A:  Yes! 

• First, I would highly recommend you and your child reading or listening to the CD of “Rich Dad, Poor Dad.” 
• Second, I would recommend that your child (with or without your help/guidance) brainstorm in 2 categories:  (1) jobs, and (2) businesses.  Remember, brainstorming means that you completely forget about details, logistics, and reason while you’re compiling the lists. 
• Third, to get you started, here are some brainstorming ideas: (1) JOBS: babysitting, lawnmowing, snow snoveling, tutoring, housecleaning, garage-cleaning, house de-cluttering, dog walking/pet sitting, guy/girl Friday for odd-around-the-house jobs (see Chapter in the Book about getting your child working for others rather than your family & the reasons why), traditional jobs at retail establishments, interns; (2) BUSINESSES: creating something (e.g. dolls, thank you cards, scarves, photos, home-grown veggies) and selling it at school bookstore, fairs, etc., selling someone else’s products directly (e.g. pencils at school to those kids who forget them, lemonade at roadside stand), selling products on-line, organizing other kids to do the jobs listed above with a profit to the business owner.  Successful businesses identify a need and develop a profitable, creative way to fill that need.  Help your child brainstorm ideas, and then help your child use a business lens to brainstorm another list of the community’s needs.
  
• Fourth, read "The Richest Kids in America," for profiles of teenagers who have built very successful businesses, worth hundreds of thousands of dollars.