That was16 years ago now there is Three Jars, a financial website for families. The concept is similar to our old divided banks; you have 3 jars-spend, save and share. Parents organize the jars and how much goes into each jar. You can set up chores and special projects for payments too. There is a secure website for the kids to use to manage their money and every change or transaction must be approved by the parent.

My one caution with Three Jars is to make sure you are setting the money aside for each child. Whether you have a separate bank account to keep the money in or if it is in an envelope in your family safe, make sure the money is available. When your child wants to withdraw some of their money, the answer can never be…”We don’t have that much right now.” I have seen this happen time and again with parents who promise allowance or payment for chores and then when payday arrives they can’t pay their kids. Please don’t do this to your kids, you need to be fiscally responsible too.

You can start a FREE 2 week trial of Three Jars by clicking the link. Will this be handy for your family??

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Money management is one of the most important things we can teach our children. The sooner we help them set the principles of good budgeting into place in their lives the easier it will be for them to follow through. There are lots of ways to teach money management to kids. Today I want to tell you about an awesome website Money Savvy Generation. Money Savvy Generation was founded by Susan Beacham, a mom and former private banker. Susan’s dream is to teach money management basics to elementary school aged children.

Most children want to spend money as soon as they get it. By using the principles set forth on Money Savvy Generation and the tools they have available, children can learn the concepts of budgeting for long and short term financial needs. While those who want a taste of wealth in the future, can try options such as trade fx with VT markets in France.

The functional yet adorable Money Savvy Pig Bank has 4 compartments Save, Spend, Donate and Invest and each one is accessible through the pig’s feet! My boy’s has a similar bank when they were younger and it really did help them learn money management and delayed gratification. We also teach our kids about the benefits of having gold ira. Currently my sons are taking an economics class, taught by our pastor. I can’t wait to share Money Savvy Generations Cash Cache with their class. It goes along perfectly with everything they are learning!

Money Savvy Generation founder Susan Beacham is hosting a Twitter contest follow @susanbeacham on twitter and send a tweet with the hashtag #MoneySavvyPig to be entered to win a $25 gift certificate to Barnes and Noble and a custom Recommended Reading List for the children in the winner’s life and
an entire Classroom Solution for a child in your life!

That’s not all! Money Savvy Generation is giving one The Mom Maven reader a Money Savvy Pig Bank!

Mandatory 1st Entry visit Money Savvy Generation’s website and check out their products. Then come back and leave me a comment about which of their products you would like to own.

Bonus Entries

• Followers and Subscribers get 1 entry each so please follow and/or subscribe today. Leave me a comment with each entry.
• Tweet this “@MomMaven & @SusanBeacham want to help us raise money savvy kids! http://bit.ly/lxIKX #moneysavvypig” you can do this 2x a day. Leave the tweet URL in a comment. (This will also enter you into the Twitter contest!)
• Sign up to receive the “Helping Kids Get Smart About Money” eNewsletter. The registration is in the left sidebar of the Money Savvy Generation website. Leave a comment telling me you signed up.

This giveaway is open to residents of the US and Canada. A winner will be chosen at 10pm on 9/30/09 by random.org. I reserve the right to delete any entries that don’t meet the previously stated requirements. Good Luck!

The post Raising Money Savvy Kids appeared first on The Mom Maven.

TEACHING RESPONSIBILITY IN AN IRRESPONSIBLE MARKET
By Rick D. Niece, Ph.D., author of “The Side-Yard Superhero”

In a downward spiraling economy, people look for others to take the blame. Finger pointing solves little. Now,
more than ever, we need to take responsibility for our actions. We need to understand that our current actions
affect more than our present situation. Our actions today reflect as models for our children.
As president of the University of the Ozarks, I receive a variety of communications from students’ parents. I am
surprised when they seek out the president on behalf of their sons and daughters. I expect college students to
speak for themselves. I believe responsible children grow up to be responsible adults, and this world needs
responsible adults to lead, guide and influence us.
Teaching begins and ends with parents, so here are six positive recommendations to instill responsibility in
your children.

1. Build Work Ethic
When I was nine-years old, I took over a newspaper route, a route I kept until I entered college. I was
proud to be a miniature entrepreneur. My 72 customers waited anxiously for me to deliver their daily
newspaper. My customers depended upon me, and if I let them down, I let myself down. That
newspaper route helped me grow into being a responsible adult with a strong work ethic.
2. Assign Household Chores
Responsibility can begin at an early age. Assign children routine tasks to complete around the house.
The following chores involve nothing unreasonable or barbaric: make the bed; tidy the bedroom; carry
out the trash; empty the dishwasher; mow the yard; rake leaves; dust, sweep, and mop (not mope).
3. Encourage Saving Money
When children earn money, insist they save some of it. The savings can be for short-term purchases like
video games and clothing, or toward long-term goals like summer camp and college. When children
save their own money, it gives the purchase special meaning.
4. Adopt a Pet
When something depends upon us, we become responsible. Pets—from goldfish to golden retrievers,
turtles to gerbils— require regular and reliable maintenance. But lessons of responsibility are not
learned if Mom or Dad becomes the one who cares for a neglected pet.
5. Foster Reflective Thinking
The power of reflective thinking dates back to Socrates. The concept is a simple one: the more we think,
the better we learn. Children make good decisions and bad decisions. As adults, we can help them think
about why they did what they did, and how the consequences affect them and others.
6. Model Values
We are children’s role models. We are models of honesty and truthfulness, examples of ethical behavior
and integrity. We are the superheroes of ordinary life, and our heroics are as powerful and protective as
our fictional counterparts. We teach that dishonesty and deception have unpleasant consequences, that
unacceptable behavior is unacceptable. But we cannot be worthy examples if we do not model proper
values ourselves. Be diligent. Children are watching.
Rick D. Niece, Ph.D., author of The Side-Yard Superhero, currently serves as the president for the University of the Ozarks
in Clarksville, Ark. He, along with his wife Sherée, work to provide intellectual and cultural enrichment for the 675
students of the University, preparing them for graduate school and professional employment success as well as establishing
lifelong values. For more information, please visit www.RickNiece.com. The report is reprinted here with permission.

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