Search Results for: blog is your kid a spendthrift

Keeping Kids Humble

We have a saying around our home: “Miracles do happen… to other people.” Okay, so it’s not featured on a needlepoint canvas and displayed in a wood frame in our entryway, but I’m pretty sure I utter the phrase at least seven to ten times a day. In fact, I just said it again a little while ago. ABC News just ran a story of a New York teen who hit it big on a $2 scratch-off lottery ticket. Eighteen-year-old Robert Salo is one very, very lucky kid. The teen scored a million bucks just days before his high school … Continue reading →

Summer Cash for Kids

What’s that saying: Kids and their money are soon parted? Okay, maybe it’s a fool and his cash, but you get the idea. My second grader would rather have her eyelashes yanked out than willingly take on extra chores around the house. However, the kid has expensive taste and just recently discovered that money does not grow on trees, or in Mommy’s wallet. Enter the summer job discussion. While my 7-year-old won’t be restocking shelves at Piggly Wiggly this summer, there are a slew of other money-making opportunities for her to take advantage of right here at home. If you … Continue reading →

Whiz Kids

Tweens and teens get a bad for being irresponsible with their finances. Often, kids blow through cash like there is no tomorrow purchasing items that nearly always end up trashed, forgotten or consumed within a very short period of time. What’s more, in most cases, the money teens bleed through is earned by mom and dad. Instead of shedding blood, sweat and tears to earn a buck, many kids these days simply beg, whine or threaten their way to financial gain. Fortunately, not all teens perpetuate this stereotype. In fact, one 14-year-old is breaking the mold by making wise financial … Continue reading →

Is Your Kid a Spendthrift?

We’ve entered a new dimension at Casa Cheplic: Cashdom. Now that my daughter is 7, we’ve bid adieu to threats and time outs and are embracing the wonders of using cash as incentive for good behavior. So, yeah, basically I get my kid to behave by bribing her with big bucks. Actually, it’s mostly coins, but the occasional dollar bill makes an appearance if she achieves a monumental accomplishment. We’ve got the wall chart, the stickers, a list of jobs and rules and, of course, a jar full of shiny, jangly loot. Using monetary rewards as a method of behavior … Continue reading →

Moms Stink at Money Matters

Hey, I’m just the messenger. Personally, I think most moms rock at finances, but according to the gurus at LearnVest (a personal finance website for women), most women with kids fall short when it comes to making wise financial decisions. And why do the brainiacs at LearnVest think moms stink when it comes to handling money? We’re. Too. Nice. Apparently, sugar and spice and everything nice is a very bad combo when it comes to money. LearnVest experts claim that because moms are “too nice” and “too nurturing” they end of falling into an abyss of money problems. Competition is … Continue reading →

Hey, Big Spender!

They say that your credit card statement says a lot about the way you spend. I suppose if you don’t get a statement that says even more. So, what kind of spender are you? If you whip out your card faster than Quick Draw McGraw every time you see something you want, then you likely fit into the impulse buyer category. If you have the means to support your compulsive buying habit, that’s one thing. However, if you are using your credit to fund your spendthrift ways and you don’t have the cash to make payments, then you are asking … Continue reading →

Eating Healthy On A Frugal Budget

Too many people tell me that the reason they eat such unhealthy meals is because healthy food is expensive. I tend to disagree with them, but converting these spendthrifts isn’t all that difficult when I tell them that our family of four eats pretty healthy and my food budget is half of the national average (according to my online research). I’m not a health nut by any means, but it doesn’t take a genius to figure out that junk food makes you feel terrible and it doesn’t cost less than healthier foods. Not to mention you’ll have fewer trips to … Continue reading →