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How to Teach Wise Money Management to Your Kids

(with joy!)

 
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Money Resources:

  1. How Money Works
  2. How Kids Can Make Millions
  3. How You Can Become Debt-Free
  4. Decent Banks for Your Kids

 

Want to know if your child can really do something with his/her money beyond just buying a new pair of sneakers? Find out how several teenagers created businesses and made millions. Good kids, great stories, wonderful value systems! "The Richest Kids in America," by Mark Victor Hansen, co-author of "Chicken Soup for the Soul."

 

Robert Kiyosaki's classic, "Rich Dad, Poor Dad," on CD so you can listen while you're driving! If you're not yet familiar with "Rich Dad, Poor Dad," it's a great book! Kiyosaki is a good story teller, and in telling his true childhood story, he teaches you about money, how it works, and how to get it to work for you. You'll learn and appreciate "Return on Investment" or "ROI."

 

Robert Kiyosaki's classic, "Rich Dad, Poor Dad," in the traditional book format (for traditional readers):

 

In "Automatic Millionaire," David Bach really brings home the concepts that small savings can build to huge wealth (if not hindered by useless debt), and how useless debt can suck you dry regardless of how much you try to save! Peace of Mind comes, in part, from living with your finances on "automatic." Make the big decisions, then set up the process on automatic so that you're not trying to make the same tough decisions over and over again.

 

"Transforming Debt into Wealth," by John Cummata has a ton of resources that will get you on the right track and out of debt, if you're still struggling with financial stress while you're teaching your kids the keys to financial wealth.


 

Decent Banks for Kids

There are oh so many reasons why I recommend building your own 4-part bank - neat dollar bills, easily emptied and counted, more interesting because it's hand-made by the child, etc. However, making a bank from scratch, and making crafts is not for every parent, nor every child. Thus, I recommend these. They each have their little aspects that make them less than "ideal" in my mind, but they are very workable and serve the purpose MUCH better than the average piggy bank.

"LearningCents Bank" is probably my favorite of the manufactured 3-part kids banks. Why? Because the top comes off easily. You (or your child) write the labels for the top of the canister. It's see-through (which is always fun for kids), it still has color. And, with the easy removal of the tops, you can also easily insert bills and keep them neat. (It comes in pink as well as blue.)

 

"My Giving Bank" is a 3-part bank instead of a 4-part bank. But, it's cute and is already made (of plastic). It has slots in the top of the 3 buildings. This kid's bank is Larry Burkett's "My Giving Bank." Larry Burkett is a leader in teaching financial stewardship principles.

 

The "ABC Learning Bank" by Crown Financial Ministries, is another tool by a financial stewardship teaching compmany, Crown Financial Ministries. Again, it is only a 3-part bank instead of a 4-part bank. But, it is also cute, colorful, plastic and ready-made for you.

 

"Moonjar Classic Money Box" is a good, 3-part bank (again, it's difficult to find 4-part banks!). It's colorful and dollar bills appear to be able to be put inside the bank easily, and money removed easily.

 

"Mudpuppy Money Bank" comes in several colors and styles. It's cardboard - which can sometimes work better with kids than plastic. But, reviewers have noted that the cardboard dividers don't go all the way to the top cover, and so, if the bank is tipped, coins can sometimes go from one section to another. (Another 3-part bank, instead of 4-part. Do people have something against dividing evenly??!!)

 

 

 

 

 
 

 
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Order "The Kids' Bank Book" ebook here: