Tag Archive: Money

  1. Got Gifts?

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    It is official, today is Black Friday, which triggers people buying presents for the holidays.  Of course, your kids will likely receive some of these gifts.

    Over the years I have been asked how to keep kids grounded when they receive gifts, whether it is the traditional holidays, random gifts, or extravagant purchases.  The givers are usually family members like grandparents, aunts/uncles, or sometimes an estranged parent may purchase gifts to offset lost quality time.

    Gift giving is a very nice gesture, but unless you help your kids understand the big picture, they may begin to feel entitled or unappreciative.  To help prevent this, make it a MoneyBags Moment, let your kids know that lots of events happened before that gift came to them.  First, let them know that the gift is really a token of love and appreciation from the giver.  The giver decided that your child was so special that they spent their hard-earned money and time on them.   Explain to your kids that the giver worked to earn the money that purchased their present.  Next, the giver took time to think about and locate the gift.  Moreover, if it is wrapped and/or shipped this took additional time and cost.

    By taking steps to educate your children about what is really behind the gift, it will help them appreciate it and the giver more.  The goal is to teach them the importance of earning the money and choosing how to spend it.  To drive this message home, I believe having your kids write formal Thank You cards is the answer.

    This “old fashion” gesture, not only teaches your kids good manners, but it teaches them basic skills that they aren’t being taught in school.  This is your opportunity to teach them how to write a Thank You note and address an envelope.  As highlighted in Brian Tracy’s book “No Excuses” the act of writing actually “forces you to think and concentrate.”

    Furthermore, in this day of technology and instant gratification, to receive a formal Thank You card in the mail makes this kind gesture stand out.  Your kids will begin to realize that the gifts they are receiving are not typical and good manners dictate a formal acknowledgment.

    So, teach your kids this valuable habit and have them sit down and formally thank the giver.

    Here is to filling your MoneyBags!

    Wendy

  2. An Aha Moment!

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    Have you ever had an aha moment, like the old ad for Reese’s® peanut butter cups?  The ones where the peanut butter and chocolate collide and make the amazing Reese’s® peanut butter cup.

    In one of the several books that I have read over the years (I wish I could remember which one), it stated that one of the main reasons for the educational divide between poorer students and their peers is the lack of access to books in their home over the summer months.  In my search to find my source, I ran across this amazing pamphlet by Scholastic.com with some shocking statistics.

     

    Chocolate  

    Gum Drops  – A wonderful charity that provides weekend backpacks of food to at-risk children in Southern Illinois. This amazing charity was started by a classmate of mine, Amy (Carney) Simpson, to fill a vital need for thousands of kids.

    Peanut butter

    MoneyBags – A book to teach kids about money.  I just happen to have four cases of books sitting in my office, collecting dust as they wait to find a home.

     

    Resee’s® peanut butter cup (MoneyBags style)

    Put MoneyBags books into backpacks.  Thus, a special thanks to the Carterville Rotary for covering the cost and coordinating the shipping of the books to Gum Drops.  With their help, we put 160 books into the last backpacks before summer.

     

    Here is to filling your MoneyBags!

  3. It is Tax Time……..I mean Spring Time

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    For most people this time of year always makes them happy, since they know that summer is around the corner.  However, for me, I don’t start celebrating until after tax day (April 15th – unless there it falls on a weekend or a holiday).

    So, since it is Tax Time, take a minute to teach your kids about money and taxes.  As stated in Chapter 11, one of the fastest ways for kids to understand the impact of taxes is for you to take some “taxes” out of their food with a big bite for the provider (you).

    Furthermore, explain where money comes from and that it does not grow on trees (Chapter 47), which was my favorite dream. Consider kicking spring off with some MoneyBags fun by creating a Money Tree.  Erect it up on Aril 2nd (the enactment of the 1792 Money Law), decorate it and then take it down on Tax Day!

     

    Make sure to post a pic of your Money Tree on Facebook, I would love to see it.

    Here is to filling your MoneyBags!

     

    Wendy

  4. MoneyBags E-Book – The Joy of Delayed Gratification Strikes Again!

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    After much delay, MoneyBags has entered the 21st century!!!!

    I am most excited to tell you that it is official, you can now buy “MoneyBags: A Guide to Teaching Your Kids About Money” as an EBook for $9.99! As a person from the “old school,” I have always enjoyed holding and reading a physical book.  However, I am surprised that I really like the EBook too.

    I found the whole process rather easy. I made MoneyBags my first purchase (of course) and I am impressed at how crisp and easy it is to read.  Furthermore, I like that you simply swipe to turn a page and that there are hyperlinks take you to the chapter or website with a simple click.  You can navigate back and forth to different chapters via the table on contents.  Plus, I can also change the font style, font size, line spacing, background color, margins, and brightness for my desired reading pleasure.

    Furthermore, most people carry their electric devices everywhere, so now it is super easy to walk through a quick chapter with your kids when you are waiting at the airport, on a long car ride, or simply waiting for you meal at a restaurant.

    For your MoneyBags Mission, please take a peek at the new EBook, rate it in the “Before You Go” section, and tell a friend!

    Here is to filling your MoneyBags!

     

    Wendy

     

     

  5. Don’t Waste Your Money!

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    A MoneyBags Moment!

    Do you ever have just a magical moment? When they occur it is so awesome it is like you are dreaming.  Well, that just happened to me.

    It happened when I was out with my boyfriend, celebrating my 20 year anniversary of being an advisor. We went to my favorite local hole in the wall burger joint, Blue Door.  It is here were we ran into our new friend Jayla.

    The burger joint is tinny and the waiting room for a table is back by the bathrooms. It was there where John saw Jayla write on the black board wall “Don’t waste your money.”  As we talked with here we found out it was her golden birthday (she just turned 8)!

    Needless to say, I was so move, exited, and impressed that I felt the only appropriate thing to do was to give her a book. I can tell by her wisdom that her mom was taking time to teach her valuable money lessons.

    Here is to filling your MoneyBags!

  6. Taylor Swift gets an A+ for waking up Apple!

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    Profit-Graphic-BlogChapter 43 talks about PROFIT.  This word people often feel the need to say in a whisper, since so many people have made them feel unclean for wanting to make a profit on their creativity and hard work.  The freedom to pursue profit is what makes the American Dream become a reality.  Today Taylor spoke up for herself and other artist, when Apple decided that they would not pay any of the artists their royalties for the three month trial period of their new streaming service, which they will charge $10 a month.    In her words, Taylor explained to Apple “….with all due respect, it’s not too late to change this policy and change the minds of those in the music industry who will be deeply and gravely affected by this. We don’t ask you for free iPhones. Please don’t ask us to provide you with our music for no compensation.”

    As you shop, remember your local business owner. Think about how bleak shopping would be if these unique stores cease to exist because they cannot make a profit. Imagine just a sea of Wal-Mart’s or only Amazon on the internet. This country actually has laws to avoid Monopolies since it kills competition in price and selection. When you think about mom and pop store prices being high, stop and ask yourself, why? Mom and pop store owners, up and coming artist, and inventors that are trying to get the word out, need small platforms to launch their ideas. Taylor Swift did not start out as a millionaire and Apple forgot that they started out of a garage of a young computer innovator.   Gratefully, Taylor reminded them of the big picture and they have since agreed to see things as she does.

    Three cheers to Taylor………Hip hip horary, hip hip hooray, hip hip hooray

    Here is to filling your MoneyBags!

  7. Beware the MoneyBags Monsters!!!!

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    MoneyBags Monsters

    It is almost here.  The spookiest time of year……………Halloween!!!

    When I reflect back on my childhood memories of this creepy holiday, I have several memories.  As a kid, what a cool day!  Not only do you get to dress up as your favorite character, but you go knocking on doors for free CANDY!!!  Plus, for several years I would march in a night parade with my baton group.  We had cool glow sticks taped onto our batons so people could see our awesome skills and the older girls twirled FIRE!  I always liked this parade, well, that is until the one year the grim reaper came up from behind and scared me of out my shoes!  Then, going forward, I was super skittish and always checking over my shoulder for creepers.

    As I got older, the holiday just kept getting scarier.  When I was in high school, Southern Illinois was the Halloween capital team project management tools.   Every year, they would have a record breaking number of people make the trip down to SIU’s campus for their street party.  I loved walking through the crowds looking at all of the costumes and just the sheer number of people that came for the holiday.  I am excited all over again, since I have found the Disney of haunted hayrides – The Dead End Hayride in Wyoming, Minnesota.  Last week I enjoyed the scary and creepy hay ride and maze.

    As an advisor, when Halloween arrives, I think of the Money Monsters!  Money Monsters are the sneaking creepy things that seem to take money out of your pocket, such as a car that breaks down, or a sick pet that needs to go to the vet.  Sometimes, it may be a lost job, or maybe medical bills.  The good news is, like garlic for a vampire or a night light for the ghosts in the closet, the best way to chase away the Money Monsters is to build a good cash reserve.  Once you have a pool of money set aside for the unexpected surprises, like the grim reaper that scared me, if you are prepared (looking over your shoulder), it makes the Money Monsters look like someone dressed up in a costume.

    Parents, this is a great time of year to sit down with your kids and walk them through the Money Monsters and the power that cash reserves has over them.  To help your kids anchor this lesson, consider taking some time out of your busy schedule and play a board game that involves money (Chapter 14), such as Monopoly, Pay Day, or Life.  As you play the game, talk to them about the amount of cash that they have and to plan ahead for problems that they may run into in a couple of turns.  To ensure that the games teach good money habits, make sure to click on the Resources tab and print off the MoneyBags game tweaks.

    Here is to filling your MoneyBags!!!

    Wendy

  8. Book Signing: September 20,2014 at the Junque Jamboree

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    bagOn September 20, 2014, come and say hello to Wendy and get your copy of MoneyBags: A Guide to Teaching Your Kids About Money autographed at the Johnson County Junque Jamboree!   Wendy and team will be on-hand from 12 pm until 2 pm at the Ned Shed Tent during the jamboree to discuss our favorite subject of teaching money.   Come and share your favorite MoneyBags Moment with the team!

    The Johnson County Junque Jamboree begins at 7 am in the Vienna public square.  Join more than 140 vendors that will be set up around the square, selling antiques, crafts, repurposed items, jewelry and more during the day-long event.  For specific information about the Junque Jamboree, call Gary Hacker at 618-771-6877.

  9. Book Signing: Southern Illinois Women’s Health Conference

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    MoneyBags: A Guide to Teaching Kids About MoneyJoin Wendy on September 20, 2014, for a MoneyBags book signing event sponsored by John Forbes of Forbes Financial Group. Wendy will be signing copies of MoneyBags: A Guide to Teaching Your Kids About Money from 7:30 to 8:15 am at the Southern Illinois Women’s Health Conference on the John A. Logan College campus in Carterville, Illinois.

     

    For more information about the Women’s Health Conference or to register for the event, please visit www.w4hw.com.

    Forbes Financial Group LogoFor information on Forbes Financial Group , please visit www.ForbesFinancialOnline.com.

  10. Tetherball of Success – A New MoneyBags Moment

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    Family Savings JarAs I write this  I have a HUGE smile on my face.  I am sitting on the porch listening to my neighbors (both parents and kids) laughing as they play with the new tetherball in their backyard. This tetherball is very special, since they told me that they bought it with their Family Saving Jar money (Chapter 2)! Woohoo! Way to save that change and create a MoneyBags Moment!