“Working to help parents raise money-smart kids.”
Hello, friends.
On this sobering day twenty-two years after the horrific events that are imprinted in our minds from 9/11/01, I thought I’d use these “3 Ideas to Share & Save” to echo the spirit of this anniversary: honor the past, contemplate our current lives, and build for the future.
— 1 —
Honoring My Past: My grandfather inspired the opening of my book, The Art of Allowance. I’d like to share that excerpt with you:
My grandfather carefully inspected “Black Beauty,” his first “horsey” bank. The bank was small and sleek with a two-inch hole in the top to receive coins.
“When did you start saving in it?” I asked.“
I can’t remember not saving.”
Growing up amidst Depression-Era breadlines and financial uncertainty had its silver lining.
Michael Pollan, author of The Omnivore’s Dilemma, has a simple guideline when it comes to eating: “Don’t eat anything your great-great-great grandmother wouldn’t recognize as food.” Similarly, my grandfather’s advice when I graduated college and headed off into the world was simple: “Understand compound interest, and live beneath your means.”
My grandfather was probably the most money-smart, money-empowered person I’d ever met. He lived the advice he gave me.
We can all learn from him.
Black Beauty. The “horsey” bank.
My grandfather learned the importance of starting early. He also lived the first rule of compounding: Never interrupt it.
— 2 —
Contemplating Questions: One of life’s more profound questions is to ask ourselves what it is we really want. Like any good question, one answer simply unlocks another question.
Answering “With whom am I going to spend my life?” leads to “What kind of family will we raise?” which leads to “Do we want to raise money-smart kids?”
When your son has saved for his first goal, he naturally moves on to his next question, “What will I save for now?”
Chelsea Brennan, The Smart Money Mama, actually requires her kids to always have a savings goal, thereby forcing a series of questions and answers. It’s an interesting idea because, of course, we can only begin to discover our answers to our questions through our own experiences.
My full podcast conversation with Chelsea goes live next Monday, and I’ll be sure to share more of her money-smart ideas in my weekly update.
— 3 —
Helping You Build For The Future: We have worked to create resources that will help you build for your future and will support you along the money-smart journey you are on with your kids, starting with my book, The Art of Allowance.
If you want to get started today, we have our Allowance Launcher, which will help you get started with an allowance for your school age child. If you have tweens and teens, we have the Breakthrough Allowance, which helps them learn increased money responsibility. And if you have questions along your journey or aren’t quite sure where to begin, we have many more resources to help you on our blog.
Still, I know you may have more specific questions. In the spirit of service that this day is all about, I’m offering to answer any of those questions that you have.
Please email me directly at john@snigglezoo.com. I promise to personally get back to you with an answer. (Or perhaps I’ll ask you another question. 😉)
I’m here to help you enjoy this journey we’re on together, and I look forward to hearing from you.
John, Chief Mammal
P.S. Please consult with a financial or investment professional before engaging in any decisions that might affect your own financial well-being.
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