I've written before about the different ways that I've taught my children how to manage their own money but things have changed as far as Miss Frugal is concerned now that she's 16 so I thought I'd update you.The older children get, the more responsibility they should have as far as money is concerned in my opinion which is why you might be surprised to see some of the things I do to help Miss Frugal learn.These are some of the things I do to help Miss Frugal learn how to manage her own money... More pocketmoney I'm a big believer that older children aren't going to learn to … [Read more...]
Five secrets to teaching teenagers about money management in the real world….
Today's post is all about teaching teenagers about money - something I take very seriously as I want my two to leave home as well equipped as possible to deal with their money in the real world. I'm not going to tell you that my two teenagers are particularly frugal or that they don't crave the latest Xbox games or designer goods because they're normal teenagers who want the nice things they see their friends with.What I am going to tell you is how I'm teaching them money and giving them what I hope to be the skills they need to manage their money in the real world when they don't … [Read more...]
Why you should NOT give your children a piggy bank….
Today I'm going to tell you exactly why I don't think you should give your children a piggy bank if you want to encourage them to save!I should say before I start that all children are different and this is my opinion based on my experience of my two who are great little savers. ;-)Both of my children are brilliant at saving, Miss Frugal especially although I think that's more because she's older and gets more money each month, therefore has more money to save. When we booked to go to New York, she saved more money than I managed to with a combination of pocketmoney, babysitting … [Read more...]
Why I’m proud that my teenager has two designer handbags….
I thought long and hard about whether to post this because I know some of you will be shaking your head right now and thinking how bad it is that my teenage daughter has two designer handbags. I bet lots of you will have your finger hovering over the cross on the right hand side of the page ready to move on to something that really is frugal rather than this 'waste of money' and that's OK.But I'd rather you stayed to listen to why I'm proud and why it really isn't a bad thing.((This post may contain affiliate links - I'm just putting it out there so you know. You pay the exactly the … [Read more...]
13 clever ways to help your child develop a healthy attitude to money….
We've all heard the saying that 'Money won't buy you happiness' and although I completely agree with that, I also can't deny that having money certainly makes like a lot easier! For that reason, I want my children to leave home (not yet but one day ;-)) with a healthy attitude to money and to be able to budget and save and do all the grown up money stuff that it took me years to figure out after I left home.As I was trying to list some of the things I do to with my two to help them learn about money, I actually realised that I do more than I thought I did and I bet you're the same - some … [Read more...]
Children are never too young to learn about money….
One thing I can never understand is the fact that, here in the UK, we spend almost 13 years (from aged 3-16) teaching our children things that someone, somewhere has decided that they need to know but we spend no time at all teaching them basic money management skills.I know for a fact that I would rather my children learn about financial matters so they can leave school confident that they know how to calculate and manage a monthly budget and that they know about the many financial products that are out there. I'm pretty sure they'll find that more useful than learning about the features … [Read more...]
