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Hey guys! Kassandra here with Prosperous Heart and today I learned something from the National Wealth Center that I felt a lot of my friends with children could benefit from, so I wanted to share with you these 6 Techniques to Educate Your Small Children About Money.
One of the longest dreams I have had is to be able to spend time with late middle school through high school children and teach them about money – including how to break free of the chains of poverty that can sometimes enslave a family for generations …
But did you know that it all first starts from your mind?
You’ve got to get your MIND right before the rest will fall into place.
And that’s just one of the many reasons why children can benefit from financial education at an early age.
A study from the University of Cambridge, “Habit Formation and Learning in Young Children,” found that money habits are formed by age 7.
Researchers share it’s important to start basic finance education by age 3.
Children pick up money habits quickly, so giving them the right direction is crucial.
A study from Yale University found that children can recognize and remember coins by the age of 3.
Educate your children about the different coins and dollar bills. Consider teaching them about foreign currencies during vacations.
This will expand their minds and help them learn more about the countries you’re visiting.
Money jars are a fun and easy way to educate your child. You can create three types of money jars. Jars for spending, saving, and giving cover the basic lessons of understanding how to use money.
Teach your children how to use the three jars and why they’re important.
Use the jars to separate money after birthday gifts or allowance payments. Children will learn how to save for the future.
Use the giving jar for charities. Children will learn about giving and understand how they can help others with their money. They can donate the money to local animal shelters or food pantries.
Coupons can provide an important lesson on saving.
Cut out coupons with help from your children and leave them in charge of handling the papers at the store.
According to the Children’s Financial Network, kids as young as 5 can benefit from learning how to use coupons in a store. They will see how to save money and make wiser shopping decisions.
Children can set a money goal to purchase a favorite toy or other item.
Money goals are an easy way to teach children financial patience. They also provide a lesson on how to save money.
It’s important to set realistic goals, so children will be motivated to stay on a savings plan. If the toy they want is expensive, it can take a while to reach their goals.
Will they stay interested?
Picking smaller and less expensive targets is better.
Let your children use their spend jars at the store to make purchases.
Shopping provides an easy lesson setting. How will your children spend their money? Will they use their entire jars at one store or spread them out over many shopping trips?
An outing to the local toy store also gives you the chance to discuss comparison shopping. Point out different prices on similar items and teach your children about finding inexpensive options.
Evaluating the results of the shopping trip will help them understand their choices.
How will they restock their spend jars?
Yard sales offer another way to educate children about finances.
Yard sales can help you clean out your children’s rooms and teach them about money at the same time.
Ask your children if they want to participate in the yard sale by selling their old toys or clothes. Help them select items they no longer use and find appropriate prices for them. They can use the experience to refill their money jars.
Older children can help sell items at the sale. They can keep track of change and watch customers. This is also a valuable opportunity to learn about price negotiations with customers.
Financial education can begin before your children are in school. It’s important for them to understand basic money rules and form the right habits.
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Hey guys! Kassandra here with ProsperousHeart.com (the site you’re on right now), and today I am sharing some information with you that I learned from being involved in the residual wealth product for National Wealth Center.
Today’s topic is on 7 Common Money Beliefs That Are Really Just Big Fat Lies. Now, it’s not the things you don’t know, but rather the incorrect things you believe, that cause many of the real challenges in life.
A few errors in your thinking can be a detriment to your finances.
Enhancing your understanding of money and personal finances is an effective way to get on the path to prosperity.
So to avoid the paths of poverty and improve your chances of achieving financial freedom, take care to avoid these 7 common money myths:
People that make more have a tendency to spend more. Lottery winners are notorious for losing everything. Many of the families that earn over $1 million per year manage to outspend their income.
Wealth is what’s left over after you’re done spending. The more money you’re able to invest in appreciating and income-producing assets, the more you can expect your wealth to grow.
A high income provides opportunity. It doesn’t provide a guarantee.
Money has nothing to do with happiness.
Studies have consistently shown that more income results in greater levels of happiness to a point. The break-even mark appears to be $75,000 per year. If you’re earning less than $75,000, you can expect your feelings of happiness to increase with a greater income. If you’re already earning that much or more, more money isn’t going to make you feel any better.
Everyone with children or assets needs a will. Unless you want the courts to decide who will raise your children and receive your assets, you need a will. A simple will is only a few hundred dollars. You might even be able to do it yourself for less.
From a financial viewpoint, it depends. Mortgage interest is deductible, but it’s still a significant expense. Home ownership also includes property taxes and maintenance.
The upside is the potential for appreciation and a place to call your own.
Crunch the numbers and decide for yourself. Renting is generally advantageous in the short-term.
There are many examples of this statement being false. Generic drugs are identical to the brand name version and cost much less.
Companies price goods and services in order to maximize profit. That means the perceived value affects pricing, not the actual value. Many items are priced to accommodate expensive marketing campaigns.
The Beats headphones so popular with teenagers are considered by experts to be only worth half the common retail price. In this case, you’re not paying extra for higher quality.
Over time, index funds outperform the majority of managed funds. More often than not, the lower expenses and turnover rate of an index fund are more important than a professional stock-picker.
Take advantage of the ability to match market returns for very little expense.
Credit cards are a wonderful invention if used properly. However, credit cards also provide a means to spend money you don’t have.
This can be a challenge or a godsend, depending on the circumstances. Credit cards can also help (or damage) your credit.
Are your erroneous beliefs limiting your financial growth?
Consider all of your money beliefs and question if they might be incorrect, too.
Having accurate beliefs enhances decision-making and results.
Avoid buying into the myths.
Thanks so much for watching! If you would like more information, please be sure to click on the link below this video and YOU TOO can have access to the vast wealth of knowledge at my fingertips to improve your life.
This is Kassandra with Prosperous Heart, and I hope you have an incredible and prosperous rest of your day!
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Ever wondered if there’s more to life than the one you’re currently living?
That is a huge indication that you are not happy with at least one aspect of your life. And for most people – it’s more than 1!
And while we want to be happy in all areas of life — new relationships, a makeover, a car — this requires change. Either a change in our habits, friends, or something else. And for most of us, change represents uncertainty which generally instills insecurity and worry.
Most people who want change, generally want it as much as they are afraid of it. You might even say things like:
When we resist change, it’s because we’re still holding on to what the universe is asking us to release.
Whether planned or unplanned change, we are being asked to re-examine our lives and consider what direction really matters most to us, and what we’re willing to let go of.
Change is part of life – whether you like it or not. It will place with or without your approval. It could be something pint-size (your favorite ice cream joint shut down), or gigantic (death, divorce, or disability). The universe has a natural way of balancing things out.
If you’re not growing and changing, you’re dying. So why not take the charge and lead the direction of where you’re growing?
The experience you will go through that is required for this change will be much more enjoyable if you consciously make the change instead of waiting for the universe to do it for you.
Why are you so afraid to look at the present? Plan for the future?
If you’re unhappy with your current lot in life, take steps to create a more positive situation.
Instead of holding onto what isn’t working, be open to letting go so you can make room for what will work.
Also – keep in mind that sometimes your closest loved ones just don’t understand what you’re doing. They may even tell you it’s a bad decision or something worse. But more often than not, they do so out of fear.
But you cannot live you life based on what others will say or think.
When you lose your passion and motivation, life begins to feel a little numb.
Are you just going through the motions? Try doing more of what you love each day and watch your inspiration come back.
Be willing to let go of what no longer serves you.
Some situations, places, hobbies and people have expiration dates. As you grow and change, so do your passions.
Lying is NEVER a good option. It can create inner turmoil, shame and guilt. It can break down relationships.
Worse? It shows you don’t have character – someone unreliable.
Instead of festering in these feelings, ask yourself what you’re running from and are afraid to admit.
Actions will always speak louder than words. ALWAYS!
If you aren’t doing what you say, ask why you’re overpromising.
And STOP projecting something or someone you are not. Either do and be what you say you will and are … or just don’t say anything at all.
Sometimes breaking up with a best friend or romantic partner is the best thing for your personal well-being. Even when the past was so wonderful, fun, and amazing …
There is a time for everything, and sometimes even the best friendships fizzle out.
Staying in situations that no longer serve you always produce a byproduct of discomfort.
Give yourself permission to follow your heart and step into your future.
“I do not settle. I am worthy of my desires and believe in my well-being.”
Repeat that mantra aloud to tell your brain that you DESERVE happiness … you deserve a wonderful life.
Trust the nudges coming to you. These inspirational pushes are the catalyst to propel you into a happier and healthy life.
If you want guidance on how to create a powerful plan for life change grab this FREE guide.
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I grow stronger when I help others. The compassion and encouragement I give away comes back to me many times over.
I look for ways to help others feel good about themselves. I pay attention so I can spot their hidden talents and discover their potential. I affirm their worth.
I cheer others on and celebrate their victories. I am happy to hear about my neighbor winning a lottery. I congratulate a colleague who receives an award for their performance.
I offer positive feedback and sincere praise. I let my best friend know that she looks healthier since she started her new workout program.
I build trust. When I delegate a task to an intern at work, I hand over the responsibility and applaud their success.
I stand by others when they are trying to deal with their mishaps. I validate their feelings and experiences. I provide a sounding board as they work out alternative approaches. I admire them for persevering.
My life becomes more rewarding when I nurture my family, friends, and coworkers. Even a kind gesture to a stranger brightens my own day.
Today, I use my words and actions to encourage and uplift those around me. I choose to build them up rather than push them down. The more I build up others, the more my own strength, joy, and confidence grow.
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