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1. How does it teach money management?
2.How does it teach responsibility?
3. About what percent of children work hard to earn money?

1. They will now have their own money and if that money is for specifics (toys, movies, gifts for parties etc) they will have to save enough aside for that ie. manage it!

2. It helps teach the work ethic and that alone is a responsibility. You work for payment. You are responsible for those jobs or you miss being paid.

3. This is not something that’s recorded and would differ with each country and age group – here in Australia, I would guess, no more than 5% of children 5-15 years of age work "hard" to earn money.

I have had a lot of problems that anyone would have if they went through what I went through….I have a wonderful son who helps me pay my bills & I feel really bad that I have not been able to be a better person in his life. Yet, I have tried to go back to working at home & nothing has worked. When I was younger I prayed & did some other things & got a work at home job. Now nothing has worked. I know my thinking blocks me. I tell myself I can’t put up with the stress I used to put up with.

I don’t know who would hire me. I really need a job with benefits. I have so many excuses but I am in conflict cause this could help me pay my own bills & even have a better life.

It’s overwhelming for me to try to clear out my mind. I started to get sick today & I couldn’t even move which was great cause being still was what I needed. I can’t even meditate normally.

I took a nap & had a dream that my husband & I were going to move in with my parents. They had this small house & fought all the time & were horrible to be around. I felt peaceful that I could let go of the financial struggle. In reality my parents are dead.

Wow. I think right now you’re feeling really overwhelmed. So that’s probably why you’re dreaming of a time in your life where you felt safe and free from worry. Too much stress is dangerous and can result in a lot of health problems including high blood pressure. I believe that your son is very proud of you. Children generally don’t focus on how much you give them rather they are grateful for the time you spend with them, the things you sacrifice for them and the memories you make with them. A lot of children don’t have their mother due to death, drugs or imprisonment. So trust me, your son is glad to have you around and appreciates all the wonderful things you’ve done for him despite the fact that money is a problem in your household. Love isn’t based on money, finances, lack of bills or living in comfort. It can take the form of going to his games, helping him with his homework, going to ceremonies where he receives awards, listening to him as he talks about his day or helping him through an issue that he’s struggling with. Your son loves you and I’m sure he’s glad that you’re in his life. Now if you want to take a job at home, there are a few types you can try:

1. Create an internet blog. It’s easy to create. Just go to google’s home page and type in "how to create a blog" and it will show you how to do it. My sister does it and she gets companies to put ads on her site. She was paid quite a bit of money for those ads by the companies who made them. Internet blogs can be about anything. Ex: How to do hair, political issues, ways to save money, etc. Blogs can focus on anything that you’re passionate about and can write a few paragraphs on that someone would be interested in reading.

2. Some companies hire customer service representatives to work from home and handle incoming or outgoing calls.

3. Content writers develop content for websites owned by Internet marketers, business owners, bloggers and other professionals. This content takes the form of articles, electronic books (e-books), online advertisements, online sales letters, email newsletters and blog posts.

4. http://www.foundvalue.com/article/real-jobs-you-can-do-from-home

5. As a child care provider you can stay home & take care of kids who are too young to go to school or older kids after they leave school. You may need to become certified or register with your state and take courses like CPR. You can also teach kids to read, write or help them with homework.

6. As a tutor you can charge between $10 and $18. You can go to an agency like Champion Learning or Academic Advantage or you can do it on your own by posting signs in your area or online.

Don’t say that you have nothing to offer employers. Create a resume and list your skills, talents and gifts. And if you want more, you can take a few months’ training to get a certificate in security, Microsoft Office, etc. There are a LOT of people who would hire you because as a full time mom, you DO have experience in: child care, patience, caring for the sick, cleaning, cooking, typing, keeping a diary (blog), etc.

Other jobs you can try that might allow you to spend time with your son / family at home are: home health aide, receptionist, personal assistant, daycare work, working in a nursing home, computer programming certificate, Quickbooks certificate (accounting on the computer), Tax preparer license or starting your own business. The certificates take around 5 months to get. Good luck and relax, your family’s love isn’t based on how much money you make. They love YOU.

How were you taught? Do you think its the school’s responsiblity or your responsibility to show your kids what the real world is really like?

Quick answer: I learned by watching my mom stress over money. I think it is the parents’ responsibility to show their kids about finances and paying their bills. But the school also needs to step in and make sure kids know the basics. – Not every parent is going to be equipped to show their kids the right way to handle things.

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I remember in 9th grade we spent a few weeks learning about personal finances and paying your bills. To me, it was one of the easiest, most boring things ever. But 80% of the class struggled.

Here is how I am teaching my daughter:

When she was 2, I started giving her a small allowance of $1/week. When we went to WalMart, if she wanted something that costs more than $1 I would explain to her that if she saves her dollars, she can get it later.

When she was 4 there was a $9 mirror that she wanted. 9 weeks of saving sounded like forever. I introduced the idea that she can do extra chores for extra money. She took about a month to buy her mirror, and 5 years later she still appreciates it.

When she was 5, she started paying more attention to my money. So I showed her several times "this is my paycheck money. We have to save this much to pay for our apartment. And our groceries cost this much. So I am going to put this back in the bank for later and we have this much to do fun stuff with." When we got home, I would put the "fun" money in 2 jars … One was for little things like an icecream cone. The other was for bigger things like a night at the carnival.

Now that she is 9 I still occasionally show her the breakdown of where my money goes. She is expected to save her own money for certain things that she wants. And I take her with me when I certain bills.

At 9 years old, my daughter has put about $140 in the bank so that she can go to Hawaii when she grows up. We have shown her what the trip will probably cost and helped her figure out how much she will need to save per month. She has about $35 in her bedroom for smaller expenses like the box of girlscout cookies she wants and her class trip to a water park.

In a few years, when she gets a steady source of income, I will let her pick something like a cell phone that comes with small monthly payments. As she gets older, she can pay for more of her own stuff.

but my parents have been managing mine for the last few years that I’ve been working full time. My mother is a manipulating money hungry control freak and won’t even let me have my own bank account.

I just want to get a survey here to understand how hard it is to manage one’s finance so my heart can prepare for what to come. This is really scary for me.

Managing your own finances isn’t hard as long as you are cautious and don’t do something really really stupid. First I would find the best bank in your area and when you go and talk to them about an account then tell them your situation. If you explain that this is your first time doing this yourself, then they may be able to give you advice, pamplets, etc. Utilize online banking if they offer it and check it often as well as keeping track of where every dollar goes in either a personal steno pad or your checkbook. I personally keep an Excel spreadsheet with my finances. The something stupid I mentioned is don’t get taken by creditors. If you have to get a credit card then get ONE. And only use it during emergencies, etc. As one who is recovering from debt, you do not want to be in it. If you have a credit card, set it up on automatic payments so you know you will always be current. If you get a store card (Macy’s, Victorias Secret, etc.) just know that their APRs can be 20-29% a year depending on the card. That is crappy, if you must have one (coupons, etc.) then pay off the balances as soon or as quickly as possible. Also try to plan out your finances. You probably know roundabout how much you make per pay period so then you can figure out what needs paid when and how much you may need to save, etc. This is pretty much making a budget. Try to have targets for your different types of spending: 200/mo. for food, 200/mo. for gas, 100/mo for credit cards, 100/mo for savings, get the idea? Then once you know that, you can curtail different categories if the money is needed for something else.

It probably was confusing but I hope I helped a little bit. Also the only emotional part of it I could see would be starting out, getting everything settled, and then of course if you run into hard times. Other than that it isn’t bad.

In a very general sense, it’s about intelligently handling your money. It involves understanding how a checking account works, how credit cards and charge cards work, how to understand different types of loans, income taxes, basics of investing, budgeting and being a smart shopper – and of course other things also.

It is extremely important! People who don’t have a grasp of these concepts get screwed when they get a mortgage, buy a car, get insurance, spend their money, and many other things. It’s impossible to get through life without earning and spending money – and nobody is going to care about your finances as much as you are, so the smart thing to do is learn about it so you can protect yourself from scammers, bad investments and rip-off artists.

Here’s an example: years ago, my parents once took out a loan to get new windows. It was a 5-year loan for $3,000. After making payments for 3 years, they wanted to pay off the loan early to save on interest cost. The amount they still owed was almost $2,000. How could that be? They had made way more than half the payments but still owed almost the entire amount they borrowed! It was because the loan was set up in such a way to penalize anyone who wanted to pay it off early (hint: it was a "rule of 78’s" loan). They got screwed because they didn’t understand the loan documents, and just assumed if they paid it off early they would save some money.

People want to be financially secure, and unless you are lucky enough to have a massive income, the way to be financially secure is to intelligently manage your money.

Should schools give us basic training on money management so 9 out 10 young adults don’t end up in credit card debt when they get out of highschool?

Yes I extremely support this idea but I think it should start at grade 1 and end in high school where 9 out of 10 know how to invest, where 8 out of 10 know how to pay for taxes and 10 out 9 know all the basic financial issues adults face including major things like how to own a house, how to buy cars.
And if possible schools, the government, banks, and parents should cooperate so that as early as grade 1 or grade 2, 8 out of 10 students have bank accounts with a minimum of $150 dollars and can only be deposited but not withdrawn until graduation which can give students a sense of financial responisibility and can aid students who want to go to college.

it’s been a while since i’ve taken personal finance. i wanna move out of my parents house in a few years, so i’m trying to estimate what it will cost me per month. what factors do i need to think about? obviously rent, utilities, gas money, insurance, groceries, personal expenses…

i guess what i really wanna know is how much it typically costs a single person, to get a cheap apartment and live on their own each month?
and i swear, if you spam my question with your financial scams, you will be sorry.

There are so many variables… the biggest one is the location you live in. Some cities you can’t rent a room for less than $1200 a month, where I live you can rent a 3 bdrm/two bath place for $350 a month. Do you mind if you are in a rough part of town, or are you willing to pay more for a certain area? It really comes down to what kind of lifestyle you want to have. Here are some things you can do right now to get ready. Buy the little things you will need such as pots, pans, plates, silverware, towels, etc. When you finally move, you won’t have to spend money on the basics because you will already have them. If you know the cost of rent in your area, start "pretending" to pay rent now. Take that much money every month and set it aside in a savings account. This will get you used to that money being gone and will build up a nice emergency fund for when you do move. When I moved into my first place I did it VERY cheaply with a VERY tight budget. The best way to make sure you’re successful is to be prepared with extra money in the bank and don’t rent more apartment than you can afford. Rent should never be more than 25% of your take home pay.

I’m still in college and know very little about personal finance. My parents manage to get by but I really question some of their decisions at times because I’m further in debt with loans than my friends in the same situation. I wanna manage my own finances with saving, investing, debt management, stocks. etc. What are some recommendations for good programs or books for this? Thanks.

Without a doubt the best for me is TOTAL MONEY MAKE OVER, by Dave Ramsey. Learn how to live your life to become debt free, and especially start young, and be really free of credit interest in order to be financially stable early. You also become quite healthy for your retirement.

Check out his web site http://www.daveramsey.com.

Why should parents be the teachers of money management and not schools?

NO! Schools should teach this! Most parents these days were too broke and stupid to have kids to begin with but did it anyway. Why should we trust the average parent to teach their kid the skills they need to live? Most of these people clearly never learned it themselves! We also cannot rely on idiots to produce smart offspring!

"There is a lot of disinformation about health insurance reform out there, spanning from control of personal finances to end of life care. These rumors often travel just below the surface via chain e-mails or through casual conversation. Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an e-mail or see something on the Web about health insurance reform that seems fishy, send it to flag@whitehouse.gov."

http://www.whitehouse.gov/blog/Facts-Are-Stubborn-Things/

it is a recruiting add for the new Brown shirts, I wonder how many reporting trolls will use this, will they turn in their parents if the check is late or if mom doesn’t bring them beer and pizza? It is about conrtol.
Semper Fi