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Teaching kids about money

Do you have kids?

If so, teaching them about money is crucial. But it’s hard to know when to start, what to talk about, and how to broach the subject.

Today, all the three articles I’ve selected are about the intersection of money and kids – the last one, the “fun” one, involves kids but isn’t really about them. 🙂

Teaching Kids About Money: The Financial Lessons Parents Should Teach Children at Every Age [Fatherly] – “Considering the increasingly abstract ways in which money is earned and spent, and the diminishing safety nets that younger generations won’t necessarily be able to lean on, financial experts, child psychologists and even the American Psychological Association agree that kids need to develop their financial literacy skills sooner rather than later. But where do you start?” If you have kids and you aren’t sure how to teach them about money, this article establishes an intuitive and fairly useful guidelines for what to talk about when.

27 Awards and Scholarships for Young Entrepreneurs [Money Prodigy] – Amanda puts together a great list of awards and scholarships for kids, teens, and college-aged students. It’s a great list if you have kids and I imagine some of these don’t have as much competition as the bigger named scholarships. She also includes resources at the end to help kid and teen entrepreneurs.

How to Set a Christmas Budget You’ll Actually Stick To [Perfection Hangover] – Melissa shares her strategies for setting a Christmas budget, or how much she spends on gifts for her family. The part of this that is interesting is her strategy for her kids. “… most people would think you’d just divide that $400 between the three kids. Now, I don’t know how many of you have a 13 year old, but how far do you think you can get with $133 ($400/3)? You can’t even buy many clothes with $133. Here’s how we do our Christmas budget. You can adjust the numbers based on your own kids’ ages.”

From the Department of “How The .0000001% Live:”

The Playing Fields of Money: The Swiss school that charges around $130,000 a year to raise the future global elite [Air Mail] – “You can tell a lot about a school from its most famous sons. Eton will always be defined by the flagrant smoothy and the born-to-rule—Boris Johnson, David Cameron, Anthony Eden, et al. Le Rosey is the spiritual home of the Euro gadabout and the family curse–baiter—Rothschilds, Radziwills, Rockefellers. The Dragon, meanwhile, is a petri dish for peppy actors and self-confessed attention seekers—Emma Watson, Hugh Laurie, Tom Hiddleston.

Institut auf dem Rosenberg boasts no notable alumni. That’s not because nobody went there, of course—but because almost everybody did. “Our former students are some of the most successful people in the world,” Bernhard Gademann, the fourth-generation headmaster of the Swiss boarding school, tells me. “They’re technology founders, Silicon Valley figures, members of well-established industrial dynasties—real world changers. But we have a rule that we never speak about them, I’m afraid.””

Know someone who has kids and will like these articles? Send it to them!

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