Tag Archive: Teachable Moment

  1. David England: A Rare Buy Recommendation

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    It is always nice to receive complements, but when it comes from a well-known Columnist of the Southern Illinoisan – Business Journal, Retired Associate Professor of Finance and Financial Icon/Founder of DavidOEngland.com in my hometown, it means MUCH more!

    Please check out his kind words and the reasons he recommends “MoneyBags: A Guide to Teaching Your Kids About Money” as a must buy this holiday season.

    Click Here

    Thank you David England for your support, teaching, and wisdom over the years.

    Here is to filling your MoneyBags!

     

  2. 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

  3. 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

     

     

  4. My Sister’s MoneyBags Moment

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    <img class="alignleft" style="width: 269px; height: 189px;" alt="MoneyBags Moment, Pennies" src="http://moneybagslife best team management apps.com/wp-content/uploads/2014/04/4-20BlogPic-300×238.jpg” width=”300″ height=”238″ />My sister has a rewarding job, as a Foster Care Case Manager working directly with foster kids, but today I got a frustrated text from her asking for some wisdom.  Basically, one of her foster kids traded two video games ($50) for a bag of chips ($1) and of course she felt he got a bad deal. Did he? I think he was hungry and negotiated with something that did not meet his primary needs (The Plate Level of the Money Hierarchy Cake – Chapter 7).  So for him, it was better to eat than to keep the games.

    However, I also see my sister’s concern and desire to help, protect, and nurture him.  I told her that this is a cheap mistake.  It’s a MoneyBags Moment.  She now needs to explain to him that both items have a dollar value and she needs him to understand the dollar amount of each item.  A poor trade is one bag of chips ($1) for two video games ($50).  A fair trade would be 50 bags of chips ($50), for the two games ($50), a good trade is 60 bags of chips ($60), and an awesome trade would be for a semi-truck full of chips ($1500). The sooner he learns this the better he will be a making deals (Chapter 46- Bartering).

    Here is to filling your MoneyBags!

    Wendy