Thanks to The Beth Kobliner Company LLC for sponsoring RookieMoms.com today.
Ever since our children were very young, we worried that it would be difficult to teach them about money because most of the transactions we take care of are not visible to them.
Paying bills just looks like typing on the computer. These days, I pay for Starbucks and for groceries by simply holding my phone out. Even a plastic card doesn’t really convey hard-earned money.
My husband and I save aggressively for the future, but I’m not sure we’ve told our children that there is a college savings fund waiting for each of them; and telling them was one of many great ideas I got from attending a launch party for the book Make Your Kid a Money Genius (even if you’re not) by Beth Kobliner.
She said that studies show that kids who know there is a college fund for them are much more likely to go to college.
When I graduated from college, I received Beth’s earlier book, Get a Financial Life, as a gift. And I loved it, because it spoke to me as a 20-something who was new to paying for all of my own expenses.
Now, Make Your Kid a Money Genius (Even If You’re Not) is here to provide parents with guidance, such as 14 rules for talking to your kids about money. (#1 Start even earlier than you think you should: around age 3.)
People’s basic money habits are formed by the age of seven. Wow.
So what’s relevant when talking about money to a 3-year old?
The book, stuffed with helpful tips, makes these dreaded money talks a bit less daunting — and even fun! One example for little ones: Saying yes or no to the impulse items in the checkout line is packed with teaching opportunities from ages 3 to 23. Beth says, “Don’t avoid the situations where you’ll have to say no,” as you are teaching your child money smarts with those decisions.
My friend Brandi and her daughter Ayva hopped into the hot seat to interview Beth, while the rest of us shoved cupcakes in our faces. They did such a good job with the interview. It was a pleasure to be there!
Thanks again to Beth Kobliner for including us in this event and sponsoring RookieMoms.com. I received a signed copy of Make Your Kid a Money Genius (even if you’re not) which I will keep for reference as it serves as a guide for parents of kids ages 3 to 23.