Welcome to the April 25, 2008 edition of Kids and Money.
Let's dive right into it with our first submission from Heather Allen, who presents The Entrepreneur Challenge posted at The DebtFree Playbook Blog, saying, "The next in the series about teaching entrepreneurial skills to your kids."
This is such an important topic. I, too, am trying to instill in my two very young boys the idea of entrepreneurship, creativity, making your own way. I hope I can impart some wisdom that I've gained over the years and inspire them to NEVER have to work at a job. Rather, I hope that they can do what they love. And buy me a mansion.
Next up is KCLau, who presents How to Identify and Invest in the Hot Stocks of Tomorrow posted at KCLau's Money Tips, saying, "A review of the book "Finding the Next Starbucks by Michael Moe.""
I can only hope that I can find a few Dells, Ciscos, Microsofts, and Wal-Marts in my time, before they're big immovable objects like they seem to be today. One thing I hope to do is buy a few shares from these sorts of companies for my kids and let them see how dividends and capital appreciation works with their own eyes.
Raymond presents The 6 Best Credit Cards According To CNN Money posted at Money Blue Book.
I generally agree with this ranking. I've talked about the AmEx Blue Cash card before. It's a great card. Are there any cards out there that are especially geared towards (in a good way, I might add) teens?
Jeremy Zongker presents Election Promises posted at Debt Comics.
This is pretty funny. Bad sad. It's a cartoon, so don't get carried away with the politics. We're a nation of debt and will be until we cannot sustain it anymore.
The baglady, one of my favorites, presents How Do Childhood Memories of Money Affect Your Money Habits? — The Baglady posted at xynny.
So true! I had an experience as a little kid, where I took my pocket change, which was real money way back when, and tried to buy an "Icee" but things were moving so fast at the counter that the clerk screwed up my money and then said I didn't have enough. It was at that exact moment that I paid strict attention to my money because nobody else could ever care as much about MY MONEY as me!!!
mmhabits shares How Can Kids Make Money When They’re Young posted at Millionaire Money Habits, saying, "Want to get your kids to develop a good work habit and teach them the value of money? Here are some ways to get them to use their imagination, leveraging your strengths, and providing something of value."
I've tried them all (except for the caddying. Carry your own clubs, lazy!). And you know what? They work!
Jeremy Zongker presents Understanding Frozen Credit posted at Creditor Web.
This is a good primer on freezing your credit. Hopefully, your children will never have to worry about this!
KCLau brings to us Insurance Planning Guide for Malaysians [Review] posted at KCLau's Money Tips, saying, "A review of Insurance planning guide for Malaysians. This book was written to make you more aware of life insurance protection. Hopefully it will prevent you from suffering and regretting over buying insurance for the wrong reasons"
Buy term, invest the rest!
Mark Butler presents Living With Less posted at The Butler Project, saying, "Families will find greater peace of mind and quality of life by learning to live with fewer material goods in their lives."
All too true! This is a must read for anyone interested in getting ahead.
Mark Montgomery presents Visiting College Campuses: Observations by a Professional Tour-Taker posted at Great College Advice.
Getting a college education may be the second biggest "purchase" of anyone's life. Make sure you get what you pay for and use the skills and connections (and prestige) you get in college. Finally, make sure you don't get mired in student loan debt. It's a silent personal finance killer.
Barb A. Ryan presents Asset Allocation, Investment Asset Tax Location, and Emergency Cash Management posted at Pasadena Financial Planner.
Where you put your investment dollars is a great subject to end on. The most important thing a young person can do is set aside $2000 now in an IRA and watch it grow over 50-60 years. It's simply amazing.
That concludes this edition. Submit your blog article to the next edition of Kids and Money using our carnival submission form.
Past posts and future hosts can be found on our blog carnival index page.