An Open Letter to My Three Children

open letter

In 2015 I wrote an open letter to my three children. It was inspired by the Jim Collins post I read titled “How I failed my daughter and a simple path to wealth” and Cait’s Flander’s article “An Open Letter to High School Students.” I …

Read More

Teaching Your Kids Financial Discipline

We take so many of our habits, both good and bad, from our parents. When thinking about your spending habits, consider how your parents might have influenced you. Did they give you a thorough education on how to handle your money? If not, how will you make a difference for your children? Here are some tips to teach your kids about financial discipline.

financial discipline

Start Soon

As soon as your kids understand money, you should train them to use it wisely. If they have an understanding of math (at least addition and subtraction) use this to your advantage. Tell them about how much things cost and how much money they have in a given scenario. You should also help them to think about their money every time they want to spend.

Will the purchase be something that satisfies them long-term or be quickly forgotten about? Having these questions on their mind at a young age is very important. An excellent way for kids to get practical experience in understanding the real value of a dollar is having them earn it.

Classic examples of letting them run a lemonade stand, do chores for you and others can be a great way for a child to understand that money is a valuable asset that is earned.

Read More

Financial Steps to Take Before Divorce

Divorce

Divorce is something no one wants to prepare for, but in some cases, it is the best decision for a couple. The steps you take before and during your divorce could help you maintain your financial health and your sanity. It’s rare for a divorce …

Read More

Rolodex of Memories

There are certain days or events that are locked in my memory. When I think about them I can recall them with such vivid images and amazing details. It’s truly amazing the amount of information that can be remembered from some events that happened 20 …

Read More