Frugal Kids

Feb. 4, 2012

This is a two-birds-with-one-stone tip. First, you want your kids or grandkids to handle money well. This takes practice. Why not pay them to learn? Second, you want them media savvy. Pay each child to set up a blog site, preferably here:

www.WordPress.com
The site should be specific: how to save money. Have the child add a tip per week. Pay $5. There is a list of frugality sites here: http://www.brightok.net/~neilmayo
Maybe the kid just copies a tip. "It's easy money!" Add this rule: show how he/she has applied the tip personally. Ask to see the child's budget. That's the first step: budgeting. I offer free budgeting software here:

www.DeliveranceFromDebt.com
The site also has information on goal-setting. This is vital for teenagers . . . and everyone else. The idea is for the child to see how many ways there are to waste money. This exercise is based on reverse psychology. Show how non-frugal people waste money by showing how frugal people save money.

For over 300 other tips, go here:

//www.garynorth.com/public/department54.cfm