Money Works The Same for Kids

I’m not a parent yet.  I’m not even married yet…but I do have some ideas about how I intend to teach my children, God willing, how to manage the resources that they are given.  It’s taken me a while in my life to figure it out for myself, and for that I feel blessed, as I probably would not have done a very good job teaching my kids how to manage money had I married and multiplied earlier.  It could have been a disaster.

As an adult, I am subject to the same money principles that my kids will be subject to.  I will pay taxes, I will earn interest, I will give, save, and spend.  The three activities that you can do with money are:

  • Spend
  • Save
  • Give

That’s really it.  That’s all you can do.  You can’t do those without having an income, however, and I intend to teach my children not only how to generate an income, but what to do with the money they earn.

Negotiation

I will teach my children how to negotiate to set a price for the value they bring to the table.  It will enable them to handle the decisions they’ll need to make when considering how much they believe they are worth to the marketplace.  If they want to purchase something, they will need to earn the money they intend to spend, and they will understand what it means to spend.

Withholding

I will be my children’s tax entity.  If they earn money around the house, I will withhold from their paycheck an amount that would be proportionate enough to establish the understanding that we are currently in partnership with Uncle Sam, and Uncle Sam gets paid first.  At regular intervals, I will go over their “tax situation” and show them how refunds work, and how having control over your hard-earned money, rather than letting the government be your savings account can be beneficial.  They will file their “taxes” and learn how it works.

Tithing/Charity

I will give my children a positive example of giving, but I won’t force them to give.  They will have every opportunity to learn and understand the difference between tithing (if you don’t believe in tithing that’s okay) and offerings.  Giving is not something the government will chase after you for avoiding.  It is a heart issue.

Savings

I will create family mutual funds, teach them how to deposit part of their income so they can watch it grow, and show them what it means to invest in mutual funds.  I’ll come up with a way to demonstrate passive income through real estate investments, somehow.  I haven’t figured that one out yet.

Debt

I’ll demonstrate the pitfalls of borrowing money through a family issued “credit card” which will help them understand how debt narrows the field of vision when it comes to making decisions about what you want to do in life.

Basically, my intention is to emulate what really happens in life to the adults, so they have a clear picture of what’s really going on.  I used to get $3.00/week from my mother just for good behavior.  I would save it if I had my eye on a prize, but usually that $3.00 was blown within the hour at the convenient store.  Had I been exposed to the reality of how money works, I’m certain that I would have avoided some of the decisions that I made and would be well on my way to the goals that I have so recently realized are possible.  So, I’m a bit behind, but that’s okay.

I’m curious to know how you and your family teach your children about money and how it works.  What is working for you?  What challenges have you faced that you didn’t expect?  Have you been intentional about teaching your kids how money works, or are you still living unintentionally yourself?

Let me know by leaving a comment.

A Comment On Children and Failure

A Facebook friend of mine recently posted the following quote:

Where did we ever get the crazy idea that in order to make children do better, first we have to make them feel worse? Think of the last time you felt humiliated or treated unfairly. Did you feel like cooperating or doing better?

Jane Nelson

I was curious about this statement.  What I infer from her quote is that someone, somewhere believes humiliating people, and treating them unfairly is a formula for positive results.  On the contrary, neither of these two behaviors seem to lend to a positive outcome.  How someone would come to believe that others actually do this intentionally is confusing to me.

“Did you feeli like cooperating or doing better?”  No, I would not feel like cooperating or doing better.  I would feel like going somewhere else, where there are other people who aren’t manipulative, using humiliation to attempt to mold someone into what they want them to be, rather than what they were designed to be.

I’m making an assumption, but I believe that this quote is in reference to overcoming failure, which is a huge sore spot for me, when it comes to raising children, of which I have none.  I do have common sense, however.

If we protect our children from failure, they will not learn to survive on their own.  When they enter the real world, they will soon discover how much they have been trained to behave like a victim when things don’t go “fairly” for them.

If, we push our children into failure, and we intentionally humiliate them, then we are doing as much damage as if we were to allow them not to fail by manufacturing “fair” environments.

One of the most recent examples of “fair” that I can think of was a story of a neighborhood easter egg hunt.  A few kids found most of the eggs, some of the kids found some of the eggs, and a large group of kids found nothing.  A parent who protested managed to convince the rest of the neighborhood parents to take all of the eggs from all of the children and divide them evenly amongst each other.

For those children who failed to collect any eggs, what lesson have we taught them?  Isn’t it more detrimental to their future to falsely impress upon them that it’s impossible to be knocked off the proverbial “horse” in life?  Don’t we want them to understand “getting right back on that horse?”

If a child puts his or herself in a situation which requires hard work to achieve a goal, such as joining a soccer team, or being part of a choir, let them experience failure, so the next time they try, when they work harder to achieve their goal, and they succeed at what they previously failed at, their achievement will be sweeter, and will build self-confidence.  Let them try and let them fail.  But don’t force them to fail, and do all of it in love.

Adding to the Madness

A recent conversation between me and a good friend at a great coffee shop near down town Phoenix has sparked my interest in looking at the social benefits versus the social detriments of Facebook.  I’m by no means an authority on human behavior, but I am interested in a few things as is he.

Addicted to Facebook

I too am addicted to Facebook.  It’s been a great place to re-connect with people I have lost track of.  I can see what they’re up to, how many kids they have, where they work, where they go on vacation.  In the course of one year, I have reconnected with over 200 people that had some sort of influence over my life either recently, or in the distant past, some significant, and some not.

Brandon Stark, (scouterblue.blogspot.com), writes:

We have created an Open-Door policy to our lives. We exploit ourselves…posting all the details of our lives on our carefully crafted page, giving people no reason to interact by other means. In many ways it eliminates the need for real relationship.

Too Much Information

For me, the truth of the matter is, I don’t want to know that much detail without having the opportunity to sit with you and connect, for real.  As I update my status, staring at the wall trying to think of something nebulous to spew across the system, I can only wonder whether or not I’ve forgotten that 100+ people that I normally wouldn’t say anything to are going to read it.  When I post my status, my initial thought is that those who I see weekly, those who I hold valuable to me for one on one quality time, they are the ones who have become the object of my silly status updates.  The rest of the “friends” that I have on Facebook are so far distant, so far removed by a long, lonely gap of inactivity over many years that what comes out of my mind becomes of no use to them at all, yet they still see it, and they still know what I’m up to.

Reliving the Past

At first I thought Facebook was a great place to gather your friends.  Then I started to chalk it up to a place where I can quickly catch up on where people are, simply to satisfy that curiosity, to answer that occasional “I wonder where they are” question.  In the past, that question typically went unanswered as we quickly reminisced about the past in a few seconds, and then filed it away for another day.  And you know what?  We were okay with it.  Now, the answer to that question has become, “I’ll find them on Facebook and then I’ll really know.”

Yes, you’ll really know.  You’ll soon really know how cluttered your life can become with the plethora of social networking that has become the “norm.”

Social Outcast!

“You mean, you’re not on Facebook?  What’s wrong with you.  It’s the greatest thing since…”

Since what?  It’s only 5 years old and it dominates our every social situation.  Just like anything else on this planet that we experience, there’s a good twist to it, and a bad twist to it.  If used productively and wisely, the twist you experience might just be a good thing.  But don’t let it twist you out of control.

On Blogging for the Right Audience

The very fact that the word blogging has become a verb drives me as mad as the word ‘texted.’  Texted isn’t just a new word, it’s poor english.  However, I’ll use it, because our language is alive, organic, and ever changing.  Blogging is writing.  Writing is something people can do or cannot do.  If you can’t write, don’t blog.  But, if you happen to enjoy writing, then stick to it and spend time creating meaningful information for the world to see.  If you’re too personal, you’ll lose the average reader as they probably don’t care about the fact that your cousin visited last night and made the best sweet potato pie you’ve ever had.  However, if you write about the experience in a manner by which every reader can find value, or at least every reader who is interested in the general topic, then you may find success in publishing.  Otherwise, why in the world would you publish such personal information in a public location?

Suit Yourself: Uniforms in Public Schools

This paper was written in 1996 to give you a bit of perspective to its potential relevance today.

Whether it is a suit and tie at the office, a sports jersey during the big game, an apron for cooking, or fatigues for boot camp, uniforms have been a way of life for millions of people throughout the centuries. People wear uniforms whether they are required to or not and most of the time it is beneficial. It would make sense then to apply this practice to the public schooling system where the effects would be and have been proven to be beneficial. While many argue this to be a violation of constitutional rights; their freedom of expression is jeopardized, others say school is not about expression. Mandatory uniforms in public schools is about reducing the cost of clothing for families, slowing the amount of clothing related crimes, and improving the academics and achievement levels of students.

“LEGAL BEAT: COURT LETS PUBLIC SCHOOL REQUIRE UNIFORM,”

reports Margaret A. Jacobs, Staff Reporter of The Wall Street Journal. According to Jacobs, a Judge in Arizona recently ruled against the complaints of a parent who fought one of the school district’s policies that require students to wear uniforms. This is the first time that this issue has been upheld by a judge without allowing the parent’s denial. In Miami, Dallas, and other parts to eh country, many schools are pushing the same agendas, hoping to either mandate, or at least encourage the students to suit up in common attire.

What the could be considered ‘common attire?’ When most people think of uniforms, they probably remember scenes from movies such as “TAPS”, “Dead Poets Society”, and even the latest Sharon Stone film, “Diabolique”, all of which are movies that portray young boys in dark blue or black crested jackets, ties, white collared shirts, dress slacks, and dress shoes — rather unappealing. What schools are asking for is not an upper class recognition of formality, rather a sense of unity and pride through a common medium.

At All Saints Episcopal Day School in Phoenix, a typical parochial school, students wear uniforms. For the boys, white polo-style shirts with a school symbol above the heart, dark blue corduroy slacks with a black or brown belt, black or brown penny loafers or dress shoes, and a haircut above the ears is the required attire. The girls wear long socks that approach the knee, below-the-knee length plaid skirts or jumpsuits, white blouses, buckle shoes in black or brown, polished to perfection, and no pierced ears or clip-on earrings. During P.E. class, everyone wears the same clothing which consists of navy blue shorts, tennis shoes, and a white T-shirt and white socks. At All Saints, the students are required to provide their own uniforms which has raised the issue of cost. If schools did require students to ‘suit’ up, who would pay for it? It would make sense that the school districts would be responsible for providing the clothing, but that would mean raising some taxes. It is obvious that the parents should pride the clothing for their own children.

Clothing for school can be expensive, especially with the demand for students to impress their peers with the latest fashions. According to Philip Walzer, a columnist who writes for The Virginian-Pilot, a clothing store in Baltimore that specializes in uniforms for schools touts very reasonable prices for both boys and girls. Pants are priced as low as $7 and no higher than $13. Shirts, fitted for both boys and girls, are only $5 (4). While the average pair of Levi’s 501 jeans demands a whopping $25 to $30, it is obvious that uniforms are easier on the pocketbook. What about those who don’t have a pocketbook to begin with? Many parents maintain that school administrators neglect the fact that there are many families that can barely afford to eat, let alone afford uniforms for their children. Parents also believe there are additional costs involved that aren’t as apparent. They say that most kids won’t wear their uniforms after school, forcing them to purchase clothing that uniforms were intended to replace. According to the ACLU, the cost of one uniform for a girl is approximately $35 and there isn’t enough financial help (Jacobs, 2). With these problems at hand, certain individuals and groups have found ways to provide assistance to families who cannot afford to purchase uniforms for their children.

In Phoenix, Arizona Denis Wagner, Staff writer for the Arizona Republic reveals the existence of a private organization called the Stardust Foundation, headed by Jerry Bisgrove, president of Stardust Development, a company that purchases, reconditions, and resells land to prospective builders, purchases clothing for students at Phoenix Prep who otherwise could not afford them (1). One of Oakland’s districts has also found financial aid through a private organization willing to pay $15 to low income families with a maximum of two children and $30 for families that have three or more children. This fails to console Ann Brick, an ACLU attorney fighting against the prospect of mandatory uniforms. She says, “a single girl’s uniform costs $33 to $34 and the assistance is inadequate.” According to Jane Bond Moore, an Oakland Unified School District attorney, “the district will provide additional assistance to parents who are homeless or have other special problems.” (Jacobs, 2).

Long Beach, the only city in the United States that mandates uniforms in all of its public schools is still searching for a way to provide financial aid. According to state law, the Long Beach district is required to find ways to provide financial aid by finding clothing stores and charity organizations that are willing to offer discounts and even free uniforms to low income and homeless families (Jacobs, 2).

Even with finical aid from private and public organizations, there still won’t be enough money to support every student in America to attend a uniform school. We then would have to turn to additional taxes to help foot the bill.

“if it means that teen-agers will stop killing each other over designer jackets then our public schools should be able to require their students to require school uniforms,” Bill Clinton stated in an article by Alison Mitchell in a February issue of The New York Times (1). If this is true then by all means increase our taxes. If it means we’ll have our children and not lose them to violence and chaos caused by the clothing worn these days then it should definitely be enforced. Many disagree, however.

William Green of Phoenix disagrees with the policy enforced by Phoenix Prep. He believes his 13 year-old son should not be required to wear a special uniform. Green served in the armed forces where he wore a uniform because he had to and he protested when students wore jeans and other inappropriate clothing to high school. Like many others, Green believes this to be a constitutional issue, claiming that students are losing their right to free speech and essentially freedom of expression. His son, Justin, has since changed schools where he is allowed to wear whatever he wants (Jacobs, 1). What Justin doesn’t realize is the value of these uniforms. Unfortunately, many students like Justin don’t care about the values.

A commentary by Kathleen Parker in a February issue of USA Today shows us some interesting facts about the effects of uniforms on students both individually and as a whole. Her primary interest lies within the Long Beach Unified School District, the first school district in the United States to require uniforms at ALL of its public schools. As more and more schools begin to require uniforms there will be a national decrease in problems with personal identities, an overall improvement in exam results, a higher attendance rate, and a better attitude. Some kids welcome the idea. If children are wearing the same clothing, at the same price, from the same source, none of them will know whose parents have more money. None of them will feel ashamed to approach ten groups of kids who have better clothing and live better lifestyles because there won’t be a defined line. If there isn’t a group to join, nobody will want to join it and nobody will be left out (Parker, 1).

As a result, students will get along, reducing the amount of clothing related violence. A disheartening statement is made in a U.S. News & World report article titled “Your Jacket or your life.” The author says, “in cities across the country, kids are wearing clothes to die for.” In Chicago, Calvin Wash died because he wore a starter jacket worth nearly $100. Other kids are dying because of the shoes they wear…shoes that represent major sports stars and usually cost more than the kids could ever afford legally (14). The determining factor behind all of the violence is the clothing. Kids pay way too much attention to clothing, often sacrificing their academic standings.

Many students aren’t interested in hearing about the positive effects of uniforms because most of them are wrapped up in their identities — too caught up trying to be a part of a certain crowd. Some are even alienated because they aren’t meeting the standards of their peers and are usually pushed into situations that aid in developing disciplinary problems. Because someone’s appearance clashes with that of another, a wall of tension is built forcing the child to resort to violence, or simply making him;/her feel like an outcast, damaging their self esteem (LaPoint, Holloman, Alleynek, 32).

A total disregard for the students’ seniors is often the result of select clothing that depicts a negative theme, reflecting on the horrors of life as glamorous, attractive, and cool. Not only that, but students are stereotyped by the clothing they wear, being placed in certain groups by even their teachers, nearly forcing them to lead lives they would otherwise choose not to lead. (LaPoint, Holloman, Alleyne, 32).

Maureen Dowd writes in an article, “School Uniform Blues” in a January 1996 issue of The New York Times about Charles Lewis Marsh, a 17-year-old who died waiting for a rid when he was attacked by two kids who wanted his jacket. In Jet, a monthly publication that targets the African American population, it is made clear that kids across the country are dying because of what they wear. The consequences of wearing expensive jewelry, “team” jackets such as “Raiders,” starter jackets, high tech high top sneakers, and hats embroidered with sports teams are staggering. In fact, they are dying because of these luxuries.

In Detroit, a $135 jacket claimed the life of a student. Another dies while wearing a pair of Nike’s. Old style leather jackets that fighter pilots wore during battle in WWII have driven the deaths of a group of teens in Newark.

The City of Angels found a young girl, age 6, dead from fatal head injuries inflicted by a gang because of her red sweater. Many of the country’s schools are enforcing the idea of a dress code to hinder the violence (Will Changing, 16).

President Clinton, who believes we need to put “discipline and learning back in our schools” ordered literature to be sent to all of the United States’ school systems which contains information for each district on how they can approach the issue of mandatory uniforms. “;If it means that the schoolrooms will be more orderly, more disciplined,’ Mr. Clinton said, ‘and that our young people will learn to evaluate themselves by what they are on the inside instead of what they’re wearing on the outside, then our public schools should be able to require their students to wear school uniforms’” (Mitchell, 1). Not only will the school rooms be more orderly, the streets will become safer because students will gain a higher level of education. The graph below illustrates the improvements in Long Beach from the 1993-94 school year through the 1994-95 year:

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Due to the benefits of wearing uniforms in public schools, financial, disciplinary, and academic, it isn’t fair to say policies that require uniforms are in violation of children’s constitutional rights since a solid education, one that will be had as a result of mandatory uniforms, is far more important than how a student looks, it is only obvious that everyone attending school should wear uniforms.

The foremost important goal in school should be learning. When there is a sense of unity, there is also a sense of pride, and morale is boosted, causing an intense focus on the same tasks, resulting in a better organized and accomplished institution both physically and mentally.

Securing Your Computers Part I: User Accounts

Every computer has a user database. Whether you are prompted to logon or not, by the time you’ve reached your computer’s desktop, you have identified yourself to the computer as a particular user on that computer. Users are defined in Windows through the Control Panel. [Read more...]