Each week, I spend a lot of time reading new articles and blogs about kids, teens, money and financial literacy. I'll even pop over to YouTube and see what's going on over there. In "Pam's Picks", I will share some great articles and videos with you.
This week I ran across two fabulous articles about teaching money management with your children. Both of these articles give concrete, usable advice for parents of tweens and teens. And, then...I ran across some startling statistics about the tooth fairy! Hope you enjoy.
“Mom, I Need Some Money” (www.managemylife.com)
I think every parent has cringed upon hearing those words. According to this article, kids, age 12 – 17, spend an average of $46 per week. Yikes! This article also tackles solutions to common teen pitfalls regarding money (clothing, cellphones, tech gadgets, etc.) and gives you tangible solutions. Read the article...
“Money Money Money” by Bruce Sallan
Bruce Sallen is a columnist, author, speaker and Dad. www.brucesallan.com
I am currently reading Bruce's book, "A Dad's Point of View" and recently joined one of his tweet chats. He has helpful, kid-tested advice and I enjoy hearing a Dad's perspective. Bruce points out several things in this article that I really like.
- Kids & teens see everything we, as parents, do. They see how we handle our own money and pick up on our attitudes about money.
- Bruce has a system in place for teaching his sons about money management and allows them made decisions and choices regarding their money. At the same time, he does not become an ATM if one of his sons makes a bad choice.
- He understands that his two boys have different personalities and different attitudes about money. They each have different approaches to saving and spending and he allows them to try out their methods. Read the full article...
Tooth Fairy is on a Budget: www.practicalmoneyskills.com
Visa conducted a 2011 Tooth Fairy survey and discovered that the tooth fairy is averaging a $.40 cutback this year, leaving an average of $2.60 per tooth. However, the tooth fairy seems a bit partial to kids in the western part of the United States. They are seeing an average of $2.80 per tooth – up ten cents from last year. Read the survey...