Funny Money

Last week we posted some fun Halloween jokes. We’ve decided to make this a weekly column entitled “Funny Money.” Stay tuned for jokes, riddles, and more!

Money Riddle
Q: Two American coins add up to 30 cents, and one is not a nickel. What are they? (see answer at

end of post)

 

Real Life
Teacher: Johnny, if you had five dollars and you asked your father for three dollars more, how many dollars would you have?
Johnny: I would have five dollars…
Teacher: You don’t know your arithmetic, Johnny…
Johnny: You don’t know my father.

Can Money Buy a Grade?
A professor was giving a big test one day to his students. He handed out all of the tests and went back to his desk to wait. Once the test was over the students all handed the tests back in. The professor noticed that one of the students had attached a $100 bill to his test with a note saying “A dollar per point.” The next class the professor handed the graded tests back out. This student got back his test, his test grade, and $64 change.

nickelYoung Entrepreneur
Little Johnny is always being teased by the other neighborhood boys for being stupid. Their favorite joke is to offer Johnny his choice between a nickel and a dime — Little Johnny always takes the nickel.

One day, after Johnny takes the nickel, a neighbor man takes him aside and says, “Johnny, those boys are making fun of you. Don’t you know that a dime is worth more than a nickel, even though the nickel’s bigger?”

Johnny grins and says, “Well, if I took the dime, they’d stop doing it, and so far I’ve made $20!”

Money Riddle Answer

A: A quarter and a nickel. ONE of them isn’t a nickel, the Other one is.

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Happy Halloween!

Every week Kidbudget will post some funny jokes, humorous items and brain teasers. This will hopefully give you a good laugh, give you something to talk about and laugh about with your children. After all, laughter is the best medicine!

Some will be money related – some will not. We’ll just see what tickles our funny bone.

Enjoy!

Happy Halloween

Who did Frankenstein take to the prom?
His ghoul friend

What do witches put on their hair?
Scare spray

Where do mummies go for a swim?
To the dead sea

What’s the ratio of a pumpkin’s circumference to its diameter?
Pumpkin Pi

Where does a ghost go on Saturday night?
Anywhere where he can boo-gie

What do mathematicians eat on Halloween?
Pumpkin Pi.

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Save Money on Halloween This Year

If you’re interested in saving money here are somePUmpkin suggestions:

  • Make homemade costumes. Many times these are far more clever and fun than the store bought variety.
  • Buy costumes online – many online stores have much better pricing – even with shipping.
  • Find sales and coupons
    • Check local newspapers and mailers.
    • Check each stores online site before going.
  • Make your own decorations

Some ideas and online possibilities

  1. Pinterest has a lot of neat ideas – http://pinterest.com/search/pins/?q=halloween+costumes
  2. http://www.costumecraze.com/
  3. Amazon – Amazon Halloween Shop
  4. Ebay – http://www.ebay.com/sch/i.html?_nkw=kids+halloween+costumes
  5. A local secondhand or thrift store
  6. Use stuff from around the house
  7. Fun place to find ideas
  8. Look at Pinterest for ideas. Here’s a couple searches to get you started:     http://pinterest.com/search/pins/?q=halloween+decorationshttp://pinterest.com/search/?q=halloween
  9. Better Homes and Garden
  10. Overall fun ideas including decorations, crafts, costumes
  11. http://familyfun.go.com/halloween-kids-costumes/all-halloween-costumes/

HAPPY HAUNTING!!

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Will you trick or treat this year?

Yep, it’s Halloween time again. Are your kids going guising this year?

Halloween has become a holiday where a lot of money gets spent. Halloween seems to sneak up on many people. Interestingly that money may not be budgeted. Just buy stuff and deal with it after the fact. But think about it,  parties, costumes, pumpkins for carving, trick or treaters and house decorations can add up to a lot of money.

What a perfect time to educate your children on money! In fact, we’ll go so far as to say, if you’re not teaching your child about money and staying within a budget, you’re tricking them – and the consequences of that trick could be far-reaching. If you’re the minority that does discuss the money aspect, what a treat they’ll enjoy for their lifetimes.

So……… for ghost’s sake, set up a budget – with your kids. We have a fun themed Halloween budget you can print out and use. You can it here:

Enter your email address to download Halloween Budget

Sit down with your kids and have them fill it out. If you don’t need a category, simply skip it or cross it out. If you need another category, just add it.

It is critical you allow your child to keep the receipts and then fill in the “actual” column. This will help them ensure first, that their cost estimates were appropriate and second, whether or not they went over budget. The difference line will tell them that. Then you have a great teaching moment to discuss the overage or underage.

By the way, we teach them this as a critical skill in the Kidbudget system.

Have fun guising! Oh yea, for those of you who don’t know, guising means “trick or treat”

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The cost of Financial Illiteracy

What’s Your Score on the USA Cost of Financial Illiteracy Quiz?
I popped over to USA Today’s very interesting article entitled, “Millennials struggle with financial literacy.” They have a shortened financial quiz (which I scored a perfect on ;) see proof below).

The actual test given to high school students is 40 questions long. It would be interesting to take.

There are some very sobering statistics in the article. The first example is a shocker. A professional woman who has held six jobs since graduating from college apparently does not know how to create a budget. Of course we here at Kidbudget have seen and heard this same refrain over and over. It’s one of the reasons we created Kidbudget. According to the article and a NFCC financial literacy survey in 2012, 60% of 18- to 34 year-olds are not keeping a budget. That is not a good statistic.

How about this” “Today’s twentysomethings hold an average debt of about $45,000.” Holy Guacamole! Do you really want your child in that situation?
Additionally, and I’m not sure if these were from the 40 question test or some other means of measurement but “… the average score of almost 76,900 students in 2010 was 70%. Last year’s testing of about 84,000 students and this year’s of about 80,000 students were both a point lower: 69%.”
You may want to take a look at the actual article and see for yourself: www.usatoday.com.

The article also talks about the consequences to society as a result of financial illiteracy. Very interesting.
It seems most experts agree it all starts when we are young. We concur.

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Golden Rules for Teaching Kids Money Skills

“April hath put a spirit of youth in everything,” said William Shakespeare. Little did he know that this would also apply to financial literacy. In 2003, Congress unanimously passed a resolution naming April as Financial Literacy for Youth Month. Just as caring for a young plant in spring is critical to the development of that plant, teaching our children money management skills is essential in raising financially literate adults.

Teaching money management skills to children can seem a bit overwhelming at times. Yet, with careful planning and a good attitude, it can be an enjoyable experience for both parents and youth. It is not only a great time to commit to teach our children, it’s also a great time to recommit as adults to a financially fit future.

Most commitments require a process to complete. Teaching our kids to be good money managers is no different. To help in this process, Kidbudget has come up with five golden rules for parents as they teach their children money management skills. Below are the five golden rules:

Golden Rule #1: Make it Fun! Use games, activities, and even jokes to teach your kids about money. Go online and you will find dozens of activities and money games on the subject. Even toddlers enjoy tossing coins and counting change. There are videos on the internet that show the process of coin making and printing currency. Use play money and set up a store where your child can purchase small items. It is true that kids learn faster when they are having fun.

Golden Rule #2: Look for Teaching Opportunities. Are you going to the store? Talk to your kids about money. Paying your bills? Talk to your kids about what you are doing. Are you getting money from the ATM? Explain how the ATM works and why you keep your money in the bank. Help your child understand that you had to work for the money you deposited and that the ATM isn’t just a cash machine, but is just giving you what is already yours.

It is also OK to let your kids know when funds are low. If you feel like eating out but decide you can’t afford it, let your kids know that you do not spend what you don’t have. Explain the difference between needs and wants and that eating out is a want. This is a classic case of “actions speak louder than words.”

Golden Rule #3: Be Patient. Good habits take time. As you teach new concepts, realize that each child learns at his/her own pace. Some may pick up money concepts quickly. For others, it may take more time. If it becomes a battle or either side gets frustrated, it’s time to cool down and try again later.

It is also very helpful to have a plan in place before you begin. Using a formal teaching method or money management system will help both sides eliminate frustration. Find a money management system designed specifically for kids. Above all, remember rule #1, make it fun.

Golden Rule #4: Keep at it. Your kids will be excited to learn budgeting skills. Keep the excitement alive! Help them find opportunities to earn money. As they keep a budget, it may be helpful to meet on a regular basis to go over their goals and spending patterns. Give your child an incentive. When he/she reaches a specific goal, have a special night out or treat rewarding them for their hard work. Don’t underestimate the value of simple praise. The satisfaction that comes from setting a money goal and reaching that goal will reinforce the habits you are teaching. Help your child to succeed and feel the joy of success.

Golden Rule #5: Mistakes are Good. This may seem counter intuitive, but it is true. Think of it like this, would you rather your child spend foolishly on a toy when he’s 9 or make a poor purchase when he’s buying his first car? This is the training ground and mistakes will happen. The consequences are much easier to handle while they are still at home under your roof. Allow them to make mistakes. It’s OK. Help them learn from those mistakes and make better choices next time.

With these five golden rules in your tool belt, you will be much more prepared as you raise great money managers. Remember to use games, talk openly about money, have a plan or kid-friendly method of teaching in place ahead of time, be patient with yourself and your kids, keep at it, and allow the kids to make mistakes. For a plan that fits that incorporates all these methods and many more, head on over to Kidbudget and check it out. Most importantly commit to do something now. As William Shakespeare says, “In delay there lies no plenty.” So do not delay, start today.

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It pays to check your bill

phoneHave you ever been surprised by the charges on a bill? I have. This month’s surprise came from my cell phone provider. I have a family plan and because of erroneous charges in the past, I make sure EVERYTHING is blocked outside plan allowances. A year ago, I had to put the block back on because I found out the hard way that blocks only last one year. sigh

All has been well for several months, but this month when I got the bill, I found $30 in additional charges. As I researched the charges on the internet, I found many people with these same charges, so decided to include them for the benefit of others. The charges are: “ClickGen: Multi media,” “Flycell: Multi media – 52222 SuitePack,” “Sprint Mobile: Alerts – The Vault.” Each one was for $9.99.

I called my cell phone provider and attempted to get them removed. The sales representative and I looked through the history of each phone did not find any calls or texts from these “companies.” Without my knowledge, these charges are being added to my bill. I have not been able to get all of the charges removed – yet. The provider says they’re not responsible for “third party charges.” I guess that’s a post for another time.

So the takeaway’s from this experience….

  1. Call your cell phone provider and “block” all extraneous activity from the phones. Some of the folks I researched were getting these charges once a week.
  2. ALWAYS check your Statements. Some of these same people had been paying these charges for a year! That can add up quickly, for me it would have been $360 this year.
  3. If you find yourself with extraneous charges, call your provider and get them removed. Speak with a supervisor if necessary.
  4. Talk to your children about handling such things on their phones. Explain the use of disguised text messages or fees involved in playing some games and downloading ringtones, etc.

This time I caught the charges early and am hopeful all will be fine. This could easily have gone on for several more months. It pays to check your bill, literally!

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Financial Literacy for Youth month

Press Release:

Financial Literacy for Youth Month is in April and is a great time to reinforce or introduce America’s youth to money management skills. This subject is so important, that Congress overwhelmingly passed a resolution designating April as Financial Literacy for Youth month. Because the subject is not usually taught in schools, this leaves the teaching to parents. For many parents, teaching financial literacy is a daunting task.

Kim Daley, parent of seven, has created a tool to help parents with this task, Kidbudget. Kidbudget is a money management system designed for children ages 6-12 years old. It is a hands-on, innovative, interactive money management tool based on the time tested envelope method. According to Daley, “Kidbudget goes well beyond the piggy bank. The system not only teaches kids critical money skills, but also includes all of the necessary tools to put those skills into practice.”

The tools included in the system are designed with kids in mind. The major component is a 76 page full-color workbook filled with games, activities, riddles, and much more. The workbook teaches life-long principles and money skills that set kids on the right foot for financial success. Some of the principles taught are the difference between needs and wants, how to set financial goals, the importance of giving, saving, and spending wisely. To take a peek inside the workbook, go to www.kidbudget.com. Just teaching the principles, however, is not enough. Daley believes that kids learn by doing and has included necessary components to facilitate the doing.

Four kid-friendly brightly colored pouches or “envelopes” encourage the doing. Kids learn to set aside money for saving, giving, and spending. One of the rules of the system is “You can’t buy anything unless you have enough money in a pouch!” Kids are also taught to not borrow from one pouch to another. Other components are a reminder wristband and a durable zippered “vault” to store all of the components. The workbook, pouches, and money vault are part of the integrated money management system and can be used for many years to come.

The complete Kidbudget system retails for $29.99 and can be purchased by visiting the website at www.kidbudget.com . To promote financial literacy for April, Kidbudget is offering the system at a 30% discount. Just enter the code “finlit” when checking out. The system can also be purchased on amazon.com

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What can you do with a dollar?

Some people can really “make a dollar go a long way” but this has to be one of the coolest we’ve seen.

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Telemarketers Be Gone

phoneDo your kids know how to deal with telemarketers? Do You? Your ability to do so has a direct impact on your money as most telemarketers are calling to try and part you and your money. Keep in mind that most are very good at what they do. They have been highly trained to persuade you.

If your child answers the phone, have you taught them how to handle it? If not, perhaps now is a good time to do so. Liz Weston in an MSN Money article discusses some strategies on how to decrease the number of telemarketers calling you. You can find it here: money.nsn.com If your phone rings incessantly with telemarketing calls, you may want to give this a read.

Do you have strategies for getting these calls to stop or on what to teach your kids concerning them? Let us know.

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