Tag Archive: Learning to invest

  1. 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

  2. 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

     

     

  3. The Cost of Clutter and Explaining it to your Kids

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    Money Manifesters!!!

    Today I was reading a great article by Amanda Enayati titled “Why Clutter Matters and De-cluttering is Difficult.”  In the article, she states that clutter is expensive and costs an average of $10 per square foot just to store items.  Approximately 10% of the population spends $1,000 a year on storage units.  Of the people that have two car garages, 25% are too full for the owners to their park cars!    Sadly, 23% of people pay bills late and incur fees due to misplaced/lost statements.  Overall, an average American spends a year of their life looking for misplaced items.  Explain the cost of clutter to your kids.

    As a fun exercise, go a step further with your kids and talk about all the “stuff” in your garage/basement.  Ask them to think about how much you paid for all that “stuff!”  Make a game of it.  Pick out 10-30 items and have everyone write on a sheet of paper, what they think was spent on all of the items in total.  Then make the game into a scavenger hunt.  Have your kids make a list of all the “stuff” in your garage/basement (the items that you have picked out).  (Note:  Each kid can have the same lists or you can have them look for separate items.)   Then go to the store(s) and have the kids locate and write down the price of the different items.  For example, maybe your list has four lawn chairs, two bikes, grill, lighter fluid, coals, five gallons of paint, potting soil, 25 planting pots, lawn mower,  etc.  After your trip, have your kids total up their lists and see who was closest to the total guess that was written on the paper.  Ask them what they learned like this.  Were they surprised at the cost of all the stuff?  How much would you have to pay in taxes?  Calculate tax of 5%, 8%, and 10%.  How often is the stuffed used?  Is the “stuff” in good shape or has it been damaged or neglected? How many weeks would it take your kids to save their full allowance to pay for all that “stuff” (including taxes 10%)?  How would it feel to have the money spent on all the “stuff” inside their MoneyBag instead?

    Here is to filling your MoneyBag!

    Wendy