Warning: Declaration of TCB_Menu_Walker::walk($elements, $max_depth) should be compatible with Walker::walk($elements, $max_depth, ...$args) in /home/wordson0/public_html/wp-content/plugins/thrive-leads/tcb/inc/classes/class-tcb-menu-walker.php on line 0
March 2017 - Words on Wealth
  • Kids and Money,  Savings

    Can An Allowance Teach My Kid To Save?

    When parents start giving allowance we all dream of that moment when our kid says “Mom, will you put this in my college savings account? I want to prepare for the future” …no, just me? OK, well financial planners aside, I think it’s safe to say that we at least want our kids to not spend all of their money at one time on beef jerky. How can parents teach their kids to save? As you know from my previous post, I’m a big fan of giving an allowance. Allowance can be a powerful, hands-on tool for kids to practice making saving and spending decisions without making expensive credit mistakes.…

  • Budgeting,  Kids and Money

    Giving Your Kid An Allowance (is it time?)

    Should I give my kid an allowance? When? How much? Parenting seems like a never ending decision tree that starts during pregnancy and ends...never. Most parents I talk to have the same basic goals for their kids. Many parents want to raise kids who are “good with money.” One tool parents can use to teach kids how to handle money is allowance. Today we are going to talk about giving an allowance (or not), earning it, spending it and saving it. There is a lot more emotion tied up in how we handle money than first meets the eye. Parents can begin by identifying what values they want to pass…