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A Children Budget - Why?

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Written by Derrick Janson

All parent knows, teenagers don't come cheap! In a materialistic world, it's very hard to keep up with latest trends and crazes out there! All parents want their kids to be a contributor to society later in their adult life. When they are twelve years old, kids are becoming more independent and know what they want sooner than later. Receiving big gifts when it is Christmas or birthdays are becoming a thing of the past . Kids these days seem to own everything the moment they are released. How do we teach them to be financially responsible sooner rather than later?

When kids receive their first pay packet, many believe that it's all their hard work so they can blow it and still come to you for more cash. This is an irresponsible behavior society has instilled into our children's mindset with the offer of credit cards and national debt at a record high.

Budgeting for teenagers is necessary for their financial understanding. Budgeting for teenagers is a little more complex than a 4 year old or a 10 year old as by now they have more expenses to account for. The regular rule of "one dollar per age" is pretty much out the door at the same time. A lot of teenagers' allowance would be in the range of $20-$50 per week. This takes into account travel cost, lunch money, sporting equipment, excursions, outing with friends, games and toys. For teenagers who have a driver's license, they will have to take petrol costs into account.

A simple excel spreadsheet is where we will need to start to draw up a kids budget. Income on top- allowance, part-time work will account for most of this on a weekly basis. Savings should be another category as its vital we teach our kids to save before they learn to spend. This is definitely very important for a kids budget.

Written by Derrick Janson

Remember the old song by Paul Simon that says when he thinks back on all the "junk" he learned in school, he's surprised he can still even think? How much did your school learning, prepare you for the rest of your life? You need to teach your children the things that are going to make a difference to them. That is why this article is about teaching kids about money.

Always remember that children do not respond well to the style of parenting that says, "Do as I say, no as I do." For instance, if they grow up seeing you smoke cigarettes, you can talk into you are blue in the face all you want about why they should never start smoking, but it will have no affect. It is almost a given that they will become smokers.

It's the exact same thing when it comes to money. How can you buy frivolous items, or constantly make spontaneous purchases whenever you get the whim, and then expect them to believe you when you tell them how crucial it is to save their money for later?

If you are spending money frivolously on them, that is much worse than doing it for yourself. One of the worst things you can do to your kids is spoil them. Loving parents must get over their desire to do that. Give them the ability to be able to earn money for their hard work around the house.

There is one thing you can count on. There will come a time when something comes up that they really want to get, but they do not have the money saved up.

Written by Chris Ball

Decades of leading a fast paced life, chasing ambitions, goals and careers, can be really draining and retirement is one of those phases in your life where you can have the opportunity to slow down, start over and enjoy life to the full.

It is a life changing phase and experience, one that will either be fulfilling or one that exchanges one form of struggle for another. This is why it is very important that you take charge of the finding the most appropriate retirement community so that you can spend your golden days in comfort and peace. Choosing a retirement community requires a certain amount of care and research.

Here are some common mistakes that you need to know to avoid so that you can experience a life of comfort and peace.

1.Choosing a retirement community to suit other people. It seems logical to choose a retirement community that is near to your existing friends and family and for many this may be the right choice, but if the costs of living there do not allow you enough spare cash to enjoy travel and adventure, then life can become very stale after only a few months.

2.Giving up one’s hobbies and interest. Moving to a new community doesn’t necessarily mean that you have to stop doing the things you enjoy doing in your life.

Written by Derrick Janson

Funny and quirky savings banks are a great way to encourage saving for children. Getting a child to put coins in the piggy bank slot, before they are old enough to know what money or savings are, is an excellent way to start them off. It can be easy to get them interested and keep that interest in saving as the grow older.

From a few months of age, children become fascinated with certain toys or cartoons and manufacturers have used this to expand their production lines. There are models to reflect every cartoon or toy you can think of. The models that are more likely to succeed are the ones that talk, sing or move and have more novelty appeal to the child.

Charities use boxes to collect money for their particular cause. These like the piggy banks, come in all shapes and sizes, to attract attention. Kids in particular love putting money in boxes with slots and by allowing this, the habit becomes reinforced as a good thing to do.

As the advertising world is well aware incentives are a great way for promoting a product whatever it is. So by agreeing with a child that when they achieve a certain target with their savings they will receive a reward, it is encouraging them to save. Praise them when they reach the target and ensure the target is achievable.

Children often have bank accounts as gifts when they are born. Gifts of money for special occasions throughout the year are not unusual.

Kids and Money - Why Is It So Hard?

Written by Jenny Ford

We learn so many things as we grow up. We learn how to walk, talk, and get away with not doing our homework. We learn how to play complicated games, many of them involving pretend money.

So, why is it so hard for us to learn how to manage money?

Why do so many people struggle to make ends meet, even on reasonably high incomes?

Why do so few people manage to provide sufficiently for themselves in retirement?

It’s not rocket science. We know what it takes. And there are some people doing it. So why isn’t basic money management as widely understood as basic geometry?

Imagine what life would be like if making money came as easily and naturally as riding a bike or tying your shoelaces. Imagine graduating high school with a permanent, secure, passive income already in place. You wake each the morning to find more money has appeared in your account overnight! If you want to travel, you do. If you want to paint, write, or do any other creative activity, you do. You choose your occupation based on what you love to do, not the burden of having to pay the bills. You have all the time you need to socialise with your family and friends, to stay in shape, and to practice your spirituality.

This world is not a pipe-dream. It’s not unrealistic.