Previous Tips of the Day

Tip of the Day April 16

Let kids experience the joy of giving back by involving them in efforts that share money with others—like raising funds for disaster victims, purchasing socks to donate to a homeless shelter, or buying new children’s books for the pediatric ward of a local hospital.

Tip of the Day April 15

Play a classic board game that features play money as a family—The Game of Life, Payday, or Monopoly. You’ll have fun and your kids will get a feel for what it means to finance real estate or buy car insurance long before they do it for real.

Tip of the Day April 14

Provide incentive for your teens to save money by offering to match what they sock away. This works especially well when there’s a big-ticket item they have their eye on that will take some time and effort to finance.

Tip of the Day April 13

If your child blows a whole month’s allowance on a video game and can’t afford to go to the movies with friends, don’t provide a bail-out—even if it means sitting at home with a cranky kid on a Saturday night.

Tip of the Day April 12

Over dinner, ask your kids what they would do if they had a million dollars. What should your school do if it had an extra million dollars? What if your state government got the windfall?

Tip of the Day April 11

Has your teen recently started a part-time job? Many banks have “teen account” options that allow teens to make deposits and monitor their own cash flow—under the watchful eye of parents who have full access to transaction records.

Tip of the Day April 10

Three great phrases you can use to teach young children about money: “People have jobs that pay money,” “Buying means trading money for things,” & “Money can only be spent once.”

Tip of the Day April 9

Every day 60 families are told they have a child with autism. If you know a family who is living with autism, ask how their child is doing and how the siblings are doing. Ask if parents are getting the break they need and how you can help.

Tip of the Day April 8

Help your kids set up a play grocery store by providing some empty cereal boxes and other food packages, play money, Post-It notes for price tags, and some recycled grocery bags. Let kids be in charge of setting up and running the store—you’ll be amazed at how much they learn as they play.

Tip of the Day April 7

How much allowance should kids get? According to Janet Bodnar, editor of Kiplinger’s Personal Finance, “Enough so that your children can squander it, but not so much that you’ll be upset when they do.”