Sue Scheff: Money Talk with Your Teens

Part 6 of my sneak peek series inside Dr. Michele Borba's latest book, BIG BOOK of Parenting Solutions, brings up a topic that is not only timely with today's difficult economy, it is critical parents understand the importance of how to talk to your kids about money and finances.

"Are you talking to your kids about money? If not, you'd better!" - Michele Borba

Approximately fifteen hundred high school seniors were asked basic facts about personal finance, and the great majority were stumped by those questions: 95 percent scored below a C. So it should be no surprise that another survey found that 80 percent of all college freshman admitted to never having a conversation with their parents about managing their money. What's more, almost one in four of these teens say it's just fine to blow as much as $500 without checking in with Mom and Pop. If you're concerned about your kids' future spending habits, than start the "money talk" now. Let them know that money doesn't come easy and that you do have clear expectations and limits about their spending (and then tell them what they are).


Step 1. Early Intervention

Identify your parenting style. Here is a quick quiz to see how you doing to help your kids learn about money management. Check the statements that describe your typical family: (page 553-554 will offer you descriptions you can review).
Be a good role model. Kids always look to us as the example to copy. (continued on page 554)
Monitor TV Consumption. Television is the one of the biggest culprits in fueling kids' spending urges, and commercials are relentless in trying to get kids to buy, buy, buy. (continued on page 554)
Explain how money works. Start money lessons when your kids are young. (continued on page 554)
Use real-life examples. Take your child to work. Show your daughter how you balance your checkbook. (continued on page 554)

Step 2. Rapid Response (read pages 555-556 for this wise advice)

Step 3. Develop Habits for Change (read pages 557-558 and start raising a money-smart child)

ONE SIMPLE SOLUTION

Cut Impulsive Shopping by Teaching Kids to "Think Before Spending"

Set a household rule that your child must write down any pricier intended purchase and postpone buying it for at least twenty-four hours. A younger kid can draw it on her "wish list". The wait time could vary from an hour or day to a week or month depending on the child's age and maturity. If she loses interest before the time is up, even she will agree that she didn't really want that item after all.

WHAT TO EXPECT BY STAGES AND AGES

Preschooler (page 558)
School Age (page 558)
Tween (page 558)

Next sneak peek: Could your child have Oppositional Defiant Disorder (ODD)? - page 78

For those that don't have time to read, this is the perfect book for you since it is not the type of book you sit down to read. As parenting questions come up, you can go straight to the index and find the page number. Immediately you will see the pages divided by boxes, quick tips and advice and easy to read and understand resources. Did I mention she also gives you proven research and statistics?

Order The BIG BOOK of Parenting Solutions today! Whether it is for yourself or as a gift, you won't be disappointed.

Previous sneak peeks: (1) Gratitude Recipes: Big Book of Parenting Solutions, (2) Parenting 101: Ungrateful teens and children (3) Seven Deadly Parenting Styles, (4) Sex Talk with your Children, (5) Gifted children, (6) Money and your kids, (7) Oppositional Defiant Disorder

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Reminder: Holiday Safety Tips

Sue Scheff: Parenting Solutions

A great article from Author Michele Borba - 9 Parenting Solutions to Help Beat the Summer Reading Slump

REALITY CHECK: Are you aware of that kids can lose an upward of three month’s worth of reading progress during this summer break?
The famous “summer reading slide” is well documented and shows that learning declines in all kids during these lazy, crazy days, but especially in reading. Kent State education professor, Timothy Rasinski , points out that this can mean a loss of one-and-a-half years of reading achievement through the sixth grade!

But don’t despair. The reverse is also possible. Reading just a few books before school starts can save kids from the summer reading loss. Studies also show that parents play a crucial role particularly on their older kids’ reading attitudes and behaviors, as well as helping to find the right book to capture their interest.

Here are nine tips from my upcoming, The Big Book of Parenting Solutions. I shared this on TODAY this week to help parents get their kids beat that dreaded summer reading slump, and hopefully even rekindle that great love of the printed page.

1. Let them pick. A study by Scholastic found that 89% of kids say their favorite books are the ones they pick. Kids also say a big reason they don’t read is that they don’t like what we selected for them. So get your child involved in the selection. If he has difficulties finding the right book, talk to a children’s librarian, check into a resource on great books kids like to read, or ask other kids for ideas. Or check out iVillage’s best series reads for tweens.

2. Find the right level. The big trick is finding reading material appropriate to your child’s reading level–not too high or not too low. Check your child’s last report card or reading achievement scores, which may give you a clue as to what is appropriate for your kid.

3. Think outside the book. Don’t be too picky as to what your kid reads: Cereal boxes, cartoons, the sports page, baseball cards, those new graphic comic book novels are fine. Find what piques your kid’s interest. What are his hobbies? What are other kids reading? Remember, the literary merit is trivial–getting your kid to feel comfortable with reading is what matters.

4. Set aside time to read. Kids say the biggest reason they don’t read for fun is there isn’t just enough time, so carve out a few minutes a day. Hint: Eliminating just one TV show or activity will free up 30 minutes a week to read. Set aside a time where everyone reads and make it a family routine. Encourage your older kid to read to a younger sibling.

5. Make reading material available. Be sure reading material is easily accessible. Stash books in backpacks, bathrooms, cars or on the dining table for those “just-in-case” lulls. Here’s a sure-fire tip: Give your kid the option of doing the dishes or reading the book. I’m betting on the book.

6. Start a summer book club. Find other kids your child can read with or join with a few parents to start a kid-parent book club. Suggest they pick from their required school reading list (check the bottom of your kid’s backpack) or allow them to choose their own.

7. Become movie critics. Read a book, and then watch the movie together. (Harry Potter, Charlie and the Chocolate Factory, or Hatchet are a few favorites). Then become movie critics and debate if the book or movie was better.

8. Read out loud. Around the age of eight is when studies say kids stop reading for enjoyment. It’s also the same age we usually stop reading to our kids. So find one book to read out loud this summer. Reading out loud increases comprehension, vocabulary, imagination and attention, but also fond family memories. Consider listening to books on tape during those long car rides. Make sure to keep it fun and set the listening time to your child’s attention span.

9. Read together. Dig through the bottom of your kid’s backpack for their school required reading list. Then get two copies of each requirement: one for you and the other for your kid. You can each read alone, but it’s a great way to open up a dialogue with your child about a great book. J.K. Rowling proved that kids do read, but it certainly didn’t hurt that many parents and kids read the series together.

Studies show the more books in your home, the greater the chance your kid will become a reader (as well as obtain higher math, science, civics, and history scores). So dig out that library card. Go to library sales or book fairs. Stop at those garage sales. Subscribe your kid to a magazine. Set up a book exchange with the neighbors. You don’t have to break the bank, but do have material available and carve out that time so your child -and you–reads and reads and reads!

Both parents and kids say a big part of the problem is trouble finding enjoyable books. So treat yourself to a great source that listing kids’ top reading choices.

Read more about Michele Borba at http://www.micheleborba.com/Pages/AboutMichele.htm