Have you ever wondered how FICO credit scores are determined? Better yet, have you tried to explain the process to your children in an effort to prepare them for their own financial futures? It’s important for you (and your children) to understand FICO credit scores because insurance firms, landlords and even employers can use them as a way to determine your level of responsibility. Here’s an overview to help you make sense of FICO credit scores.Read More
We’ve all heard the warnings about how potential employers can view the social media accounts of prospective employees to determine if they are hire-worthy but did you know that your social media habits might also affect your credit score?Read More
Using credit cards has its benefits, but not without risk and room for error. Credit cards may provide more opportunity, as long as you maintain good financial responsibility. The alternative — debit cards — have limitations that can help deter mistakes. The the advantages and disadvantages here...Read More
Have you heard about The Innovative Kids of America Project? It is a new concept designed to inspire, excite, and provide kids ages 5 through 18 with a real life opportunity to start their own business.Read More
The young people of today may be able to use computers, mobile gadgets and other web-enabled devices, but that doesn’t mean they can fully leverage them to complete basic functions. Or that they are prepared for the future, which is full of technology as far as the eye can see. How do you best prepare your kids for the technology future?
Teaching children about the state of our economy in these economically turbulent times can be challenging for parents especially when they don’t always understand the situation and terminology themselves. The following is a list of some great tips and resources that can help parents and children make sense of the economy, and also their own financial security.Read More
The website, H.I.P. Pocket Change (History in Your Pocket) is a government website where kids can learn all about the United States Mint. The site is all about fun and information, especially coin information.Read More
Do you think you know MONEY? How much does it cost to produce a penny? What's the largest bill ever produced? What's your money made of? How many people hold credit cards in the U.S.? Answers to these and many other money questions can be found right here.Read More
Take a deep breath in. Hold it! Breath out sloooooooowly. Ahhhhh, school is out, and the decompression has begun.
As you think through all the fun things you'll do with your kids this summer, consider one that will challenge them to develop great money habits.
Did you know...
...Fort Knox currently holds more than $204 Billion in gold within its vaults? Or that in the past it has stored the Declaration of Independence, the U.S. Constitution and many other priceless documents and treasures? Learn these and more fun facts about our great nations gold depository.
“I am reaching my goals," said one 5th grader in my class.” “I’d like to earn money for charity by doing extra chores,” exclaimed another. My students are reaching for things they normally would not have, if it weren't for FamilyMint. They now know how to fill out a check, take care of adding and subtracting from their register, and even "envelope" their money. As a teacher, I appreciate helping students brush up on money skills and vocabulary, as well as seeing how happy they are to spend a little time with parents around goal setting and financial literacy.
David Fiske, a 5th grade mathematics teacher at Heritage Elementary school in Saline, MI, and his class have completed the FamilyMint Money Management Certification program. The program was generously sponsored by Bank of Ann Arbor. Mr. Fiske stated, "Real life application is important for student learning. This program gave my fifth grade students practical experience using a financial program which connected with the mathematics concepts that they learn in the classroom and provides a financial unit that is clear and user-friendly."Read More
According to the Federal Reserve's April 2013 G-19 Consumer Credit Report, Americans owe a hefty $850.9 billion in credit card debt, or $ 6,890 per household. If we are going to raise money-smart kids, we need to teach them the potential perils of relying on credit cards, and explain to them (and even model) the benefits of using cash. Here are some great reasons to choose cash over credit.Read More
Cattle are probably the oldest of all forms of money. Cattle as
money dates back to 9000 B.C. Some cattle were still used as money in parts of
Africa in the middle of the 20th century.
Check out more fun money facts here.
Adam and Matthew are serial entrepreneurs and have boiled the subject of kids starting businesses down into 60 short and enjoyable pages. The look and feel is like that of a fun, colorful scrapbook rather than boring business book. I would definitely recommend it for parents with kids between the ages of 7 and 14.Read More
Once upon a time there lived a little girl who was loved so dearly, and it could be seen very clearly. Her name was Little Red Riding Hood, a girl so sweet and so good. Her parents gave her all the best, but did they truly prepare her for her first big test? She was popular and had many a friend, but unfortunately did not learn how to wisely save and spend.Read More