All tagged Kids

Investing Is Not Black and White

Investing Is Not Black and White

Ruth
ETFs, Index Funds, Investment, Money Education, Personal Finance, PocketSmith, Simplicity, Sharesies, Kids and Money, KiwiSaver

It’s standard for me to get at least one blunt email saying I’m wrong about a financial decision or purchase I’ve made on behalf of my whānau. Generally, the reasoning given will be based on one aspect, often a technical math issue, ignoring all the other points I mentioned. I used to panic that they might be right and that I might have this money stuff entirely and utterly wrong. But I no longer do. Instead, I take their comments with a grain of salt and consider that it’s probably them who are wrong. Although it takes time, often I’ll research their argument and find that they are.

Setting Kids Up for a Strong Financial Future

Setting Kids Up for a Strong Financial Future

Ruth
Kids and Money, Money Education

This week I wanted to write about how I teach my daughter about money. And I want to give the grown-ups a wake-up call because you have the biggest influence on younger people, but you might need to take your role more seriously. If some of us had to do an NCEA course in personal finances, we would get a ‘not achieved’ grade. This means it’s hardly surprising that we don’t have the knowledge about money to hand down to those younger people in our lives, meaning that some of them go on to make a right hash of their pūtea. 

KiwiSaver for kids? YES, please!

KiwiSaver for kids? YES, please!

Ruth
Kids and Money, KiwiSaver, Money Education

I believe it is essential that we don’t just teach our tamariki to ‘save’, but we teach them to become ‘investors’ as well. That’s where the money is to be made over time. Since taking part in the Sharesies Kids and Investing webinar, one conversation thread has stayed with me. It was about whether it is worth signing your tamariki up to KiwiSaver or not. I am firmly in the YES camp.

I won’t lend my daughter money

I won’t lend my daughter money

Ruth
Debt, Kids and Money, Money Education

It’s not something I’ve ever really thought deeply about before, but in the back of my mind, I’ve always just assumed that we would never let our daughter borrow money from us. It seems pretty obvious to me - and I’m speaking entirely about myself here - that’s because I feel particularly strongly about teaching good money principles to my daughter and I would feel like a failure as a parent if there comes a point that she has failed to plan ahead and I have to lend her money.

DIY Financial Education for my Daughter

DIY Financial Education for my Daughter

Ruth
Kids and Money, Money Education, PocketSmith

From time to time I take an hour to google personal finance-related media that is close to home here in New Zealand. It’s not exactly plentiful and it all too often revolves around my least favourite topic of housing or the proliferation of easy credit and how as a country we think it’s a good idea to educate our children about money, but then fail to do so. On this last topic, I’m all for educating our kids, but when I read on, we always seem to focus on the “why we should” yet lack the “how we should”. It always leaves me wondering about the financial education of my own child.

When is the right time to get your child an Eftpos card?

When is the right time to get your child an Eftpos card?

Ruth
Kids and Money, Money Education, Banks, Personal Finance, Saving

Those of you who have read my blog for a long time have been on a journey with me as I teach my daughter, now 11 years old, about how money works. Like every parent, I’m just making it up as I go along and I’m slowly working on her education around how money and life interact. So far, I’m pleased with how things are going and the time has come for her very first bank account.

How I Help My Daughter Invest

How I Help My Daughter Invest

Ruth
Index Funds, Investment, Kids and Money, KiwiSaver, Money Education, Sharesies, SmartShares, Simplicity

Every week I receive one or two emails specifically asking about how to help children invest and there are often comments on various social media about whether you even should help your kids and if you do, whether you should tell them about it. Over the years we’ve evolved an investment methodology for our daughter that appears to be working so I thought I would share with you what we do in our own whare and that might give you some tips for what you can do in your own household.

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