Did your daughter get a few cash gifts from friends and family? Good! After she's written the thank you notes, consider this idea: Save Some Spend Some Invest Some One of the most powerful … [Read more...]
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Why Does My Daughter Actually Need a Financial Diary?
Short answer: your daughter needs a financial diary so that she can learn how she spends her money.
Long story: My daughter took a field trip with her summer camp. The camp provided hot dogs, hamburgers and soda. Plus they were buying all of the materials that she needed for the experience. And they were even providing snacks before they returned home.
I gave her five dollars. We had a long conversation that the money was only to be spent on emergencies. We talked about what emergencies are. Why she might have to spend the money. And the importance of keeping it in a safe space.
If you are a parent, you know how the story ends. She spent all the money.
I wasn’t surprised that she spent the money. But if I’m honest, I was frustrated. Frustrated because she couldn’t remember where she spent the money.
Read This: Money Spending for Kids
I know what it is like to be a young girl. I get that feeling of the money is “burning a hole” in my pocket. But as her Mom – and someone who wants young people to take ownership – I realized it was a good teaching moment. I wanted to share a life lesson that my Mom had taught me–how to keep a financial diary..
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Thanksgiving Helper: Help Moms eat their turkey on time
It’s Thanksgiving time. You can start a micro business as a Thanksgiving helper and help Moms get turkey on the table in time for Thanksgiving. #win-win. It is a simple way to earn some extra cash. It is an easily overlooked service that many families can benefit from. Here are two ways that you can […]
3 Powerful Steps to Preparing Your Daughter for Life After College
Every year, a new crop of young women graduate from college. Which is wonderful. But some don’t have a career plan. They start by revising their resumes and cover letters. Practicing interviews. Combing the internet for jobs. Reaching out to friends or family for any leads. A recent study conducted by McGraw-Hill […]
No job this summer? Start a lemonade stand
Ahhhh the days of summer are upon us. Does your daughter have plans this summer? Great! Does she want to earn money or find something to do with her free time? Help her start a lemonade stand. Running a business is one of the best activities for young people to engage in. And when I […]