Teens And Finances: Online Subscriptions

If you’re going to be successful in managing your finances, you have to budget.   It’s a skill that parents need to teach their children, now more than ever before.  It used to be that kids would only have bills that their parents pushed on them.  For example, my son owes me a predetermined amount each month for his phone and car insurance.   These are what I like to call “responsibility payments” as I pay the bills each month, and he just gives me his portion.  If for some reason he could not pay them, it would be a discussion we […] Read more »

A Little Embarrassment Can Be A Great Financial Teacher

It felt great to be able to come to the rescue for my fifteen year old daughter. As young adults progress through their teen years they want more independence, and rely less and less on their parents. So when the opportunity arose for me to swoop in and save the day for my daughter I latched on to it and took full advantage of it. It also gave me the opportunity to give my daughter a great lesson in personal finance. I had gone to the mall for some shopping, and brought my daughter with me. Once at the mall […] Read more »

How to Become a Stay at Home Mom (or Dad!)- 16 Tips to Get Started

How to Become a Stay at Home Mom (or Dad!)- 16 Tips

Becoming a stay at home mom ( SAHM ) or dad is an important decision a lot of families struggle with.  Making the decision to stay at home with the kids while the other spouse works takes plenty of consideration and planning if you really want to make it a blessing for your family. If you don’t consider the advantages and disadvantages of staying home with the kids, you can very quickly end up stressed, unhappy and broke! How to Become a Stay at Home Mom (or Dad)! That’s where this post comes in! Below I’ll show you everything you […] Read more »

What A New Cell Phone Will Teach My Son About Personal Finance

No contract cell phone options have been around for awhile. A few years ago we actually switched to a no contract plan with AT&T which significantly reduced our cell phone bill because the four phones in my family were all considered paid in full. We enjoyed the lower cell phone bill for about six months, then we all upgraded our phones. When we upgrade our phones, our monthly bill went up significantly. The bill went up significantly because monthly payments for the phones were now included in our overall bill. I kept my eye on the date where the phones […] Read more »

A Parent’s Job Is Never Done

I heard an interesting comment at a wedding over the weekend regarding the current generation. An acquaintance was talking about how his brother was working with some recent college graduates, and how they work really hard on the job, but when they go home all they do is play video games. He described them as intelligent and hard working, but lacked the common skills of shoveling a driveway because all they did in their off time was play games. I laughed a little bit, shrugging it off as your typical older generation looking down on the younger generation sort of […] Read more »

Seven Things My Son Needs To Know About Having His Own Debit Card

My son, who recently turned sixteen and got his driver’s license, also just scored his first part-time job. For the first time in his life he will have the responsibility of scheduled work shifts, but will also enjoy a biweekly paycheck. With a steady income, as well as the expenses of gasoline, car maintenance and insurance that come with driving privileges, he will be traveling new ground in financial responsibility. When he came home from the required drug test for his new job he was told that he could have his paycheck direct deposited into a bank account. My son […] Read more »

Are You As Financially Savvy As A 7th Grader?

My daughter and I always have a good time together. We have similar personalities, interests and senses of humor. She was aware of our situation as we fought to pay off over $109,000 of credit card debt, and even shared her perspective on our journey in a guest post here on Enemy of Debt. She apparently also paid close attention to how our view on money and what is important in life changed over the last few years have changed. I found this out through a conversation we had last weekend. We had gone to the mall to buy a […] Read more »

Your Kids are Watching, What Are You Teaching Them?

In a rush of memories recalled by the video being projected onto the wall, I was reminded of countless times my parenting skills didn’t qualify as Father Of The Year material. It was the last session of my son’s driver’s education class and parents were asked to attend the last half of the session. The instructor was attempting to drive home the point that the only way we will ever create a culture of safer drivers was for us parents to put in the time and effort to teach our sons and daughters how to be good drivers. The video […] Read more »

How to Talk with Your Teens about Credit

It’s not at all uncommon for teenagers to receive credit card offers in the mail. Are your children prepared for this? Do they know what to do with these offers? Do they understand how credit works? According to Consumer Action, it’s up to you to teach them: “Parents are usually the best people to teach their kids about credit, and since even young children can use credit cards, it’s never too early to begin this education.” In many families, if the parents don’t take the time to teach their kids about credit, those kids may end up making naïve choices […] Read more »

When Your Kid Shows More Financial Responsibility Than You

Have you ever had one of those moments where as a parent you just hang your head in shame, because your son or daughter showed more responsibility you? Yeah, I had that happen to me just this weekend. My son got his Xbox360 a few years ago, and instantly wanted to take advantage of the console’s ability to play games online with his friends. In order to make that happen, we had to purchase an Xbox Live membership. We gave him a year’s subscription as a birthday present, and to pay for it we attached our checking account to the […] Read more »

Using Arcade Games to Teach My Daughter About Gambling

I am writing this as my daughter skates around the local roller rink. There was a time when she would bring $5 with her and blow it all on the arcade games. After many failed attempts to grab the stuffed animal or put the ball in the right slot I think she’s learned the value of a dollar – and that most gambles don’t pay out. Tickets are the real reward here and they don’t get you very much. Each one is worth a penny at the “Stuff Shop” and the assortment of plastic trinkets is vast. Spider Rings are […] Read more »

A Very Special Valentine’s Day Lesson Taught By My Daughter

Introduction:  A few days before Valentine’s Day my daughter, Tori, came to me with an idea she had for a gift for Vonnie and me for Valentine’s Day.  I could tell that this meant a lot to her, and her sincerity and creativity impressed me so much that I knew I had to help her make it happen.   Tori has written for Enemy of Debt once before, and did a wonderful job, so I asked her if she would write about the experience to share here.   Please welcome back my daughter for a very special guest post: It was only […] Read more »

Teaching Your Kids About Money? 5 Concepts They Need to Know

teaching your kids about money

Are you regularly teaching your kids about money and how to handle it?  I don’t mean just talking about very simple concepts such as “save money” or “don’t spend it all”.  I mean are you really teaching them what money is all about? When they get older are they going to have a clear picture of how to manage their money well so they don’t end up in financial trouble like so many people who never learn these principles?    The Basics Still Apply Managing money is much more difficult than it was 40-50 years ago because most of us […] Read more »