teens Archives - Mom & Daughters Inc

November 4, 2014 By Malla

Why every Mom needs to help their daughter learn sales skills – Part 2

Why Girls should be encouraged to gain experience in sales. Whether it’s starting a lemonade stand, organizing a fundraiser for school, or helping a family member in their business, there are … [Read more...]

March 4, 2014 By Malla

Sweet Dream Girlz – Teen entrepreneurs interviewed

It's easy to be inspired by other entrepreneurs. Especially when they are smart and successful young female entrepreneurs showing the world what's possible! And so I introduce you to Brea and … [Read more...]

June 14, 2013 By Malla

Why should girls learn about entrepreneurship?

We need more conversations that show girls that they want to be girl entrepreneurs! If you want your daughter to be successful - no matter WHAT career path she chooses - you'll start educating her to … [Read more...]

Did you spend ALL the Christmas gift money?

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 lessons for our young people – how to handle money. If they learn the lesson at a young age, it’s muccccchhhh easier to save as they get older. And if they develop the habit of saving AND investing money…WOW.

The world will be their oyster.

It doesn’t take much to get started. Don’t worry about having thousands of dollars. Start by teaching your children to think in percentages. For example, they could save 10%, invest 20% and spend the remainder (70%). This way, even a dollar matters.

And it does. Because your children have time on their side. And it’s good to get into the regular habit of using the percentages E.V.E.R.Y. time they have money.

Here are three ways to start the habit:

Open a Savings Account

If you haven’t already, open a savings account for your daughter. And encourage her to save at least 10% of every dollar she is given or earned.

Many banks will waive the fee if it’s a youth account. So march down to your local community bank or find an online bank like Ally or Capital 360.

Don’t go crazy if the account doesn’t earn high interest. The most important thing is to start saving and make it a habit.

Start Investing

I used to teach young people about investing by reading the Wall Street Journal. It’s fun to watch the stock pattern of a company that you are interested in – ie. Apple, Nike, Wal-Mart. As an educator, I loved to see students learn more about the events that create those patterns.

You can start small. Buy one or two shares at a time and have your daughter learn about the basics of investing. You can get started with companies like Giveashare or Stockpile.com. Both companies offer the opportunity for young people to buy one share (or less!) and learn more about the investing process.

Invest in a Business

Want higher returns than the stock market? Consider investing the money in a business. A business that your daughter starts. It’s doable to earn 20-50-100% of the original investment when you start your own business.

It requires that they start with solving a problem for people. And use their talents and skills to resolve it. This blog has several articles that can get them started. Here are few posts to get the creative juices flowing:

Why should girls learn about entrepreneurship

How your daughter can earn holiday cash selling crafts

Yes, there is a risk that they will lose the money. But in the long run, it’s impossible to really lose. When you learn how to create, market and sell a product or service, you are going to be empowered for life!

If you spent the money already, no worries! You have the remainder of the year to start developing these habits.