2015 Grandma Rie’s Money Camp Activities and Resources

Teaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp’ in 2011 and held our fifth annual one this year.

Hiccups in this years plan.

My plans for this years camp were quite extensive. The grandkids are reaching the tween and near tween stage and have a greater capacity to soak up some of the information. I spent quite a while developing the plans for camp, but then, as usual, things changed and I had to be nimble in tailoring the plans to reality. Continue reading

Grandma Rie’s 2015 Money Camp Plans

Teaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp’ in 2011 and held our fourth annual one this year.

Background.

This year’s camp will held just for the two grandchildren, a boy just 11 and a girl almost 8. My grandchildren’s other Grandma will participate with me in this years camp.

Long range planning

Earlier this year, I sat down and thought about the long range goals of our Money Camp. Before I know it the kids will be teens and not very interested in going to a Grandma camp with their precious time. However, as long as there is interest I plan to continue.

From basic concepts about currency identification and value to more esoteric topics such as the psychology of money, I jotted down the things I felt were important to pass along to our next generation. I gleaned some of my ideas from books such as The Young Investor by Katherine R. Bateman, Raising Financially Fit Kids by Joline Godfrey and Granddad’s Money Camp by Dr. George H. Meyers. Other’s came from discussions in our family meeting about what our family values are and still others from things I felt I had lacked or had neglected to teach my own children before they grew up. Continue reading

More Kids Making Money

When I was a kid in the 1950’s there weren’t too many ways to make a buck before you turned 18. At least, I didn’t know about many. Neighborhood jobs like lawn mowing or newspaper delivery or babysitting (once you hit age 13 or 14) were about the only things available.

Because I’m trying to help my Grandkids understand that they have options on how to make money, I set out to find out what younger kids do these days to make money.

In my first post (Kids Making Money), you can read about a couple of girls making money online, one with a You Tube channel and the other selling a toy.

Here are a few more things that real kids are doing in the 21st century to make money before they are old enough for burger slinging. Continue reading

Kids Making Money

Most of my ancestors and relatives worked for someone else to make a living. So did I, in my main career as a Software Development Manager. Successful entrepreneurship was not demonstrated in my family, so I had no frame of reference to know that it was a normal activity. Yet making it big in one lifetime, like Bill Gates or Steve Jobs usually requires building a successful company.teach kids to sell

That is why I am trying to model and teach entrepreneurship to my grandchildren. I want them to know that they CAN, if they wish, pursue a business of their own.

To that end, this year in Grandma Rie’s Money Camp  we are going to explore ways other kids are making money. Continue reading

How to Teach Kids to Sell

teach kids to sellAlong with financial literacy, I think that we all need to learn effective selling techniques.

Teaching how to sell is something that school typically doesn’t cover (even though many schools ask kids to sell in their fundraisers!). Many of our parents don’t feel comfortable teaching their kids how to sell (because they don’t think they know how). Sometimes people think of selling as sleazy and high pressure and don’t really think they SHOULD teach their children how. Continue reading

2014 Grandma Rie’s Money Camp Activities and Resources

Teaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

IMG_0689Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp’ in 2011 and held our fourth annual one this year.

The focus of this years Money Camp was on saving. To zero in on that, we toured a bank, a credit union and the Federal Reserve’s Money Museum, as well as inspecting our home safe and our safe deposit box at the credit union. In addition I asked several family members to record a story about a time they had saved for something or wish they had. In order to put the focus on saving and provide these activities, I moved the location of Money Camp from the lakeside condo to our metro area. To have money to save, you have to get or earn money. This year, I combined camp with a garage sale and had the kids run their kid business during the sale. Some days I question my sanity – running a week long camp, entertaining kids and preparing for a garage sale called for some stamina I didn’t know I still had! Continue reading