Tag Archives: parenting

Dads Who Do Dishes Raise Ambitious Daughters (and 4 Other Ways Any Parent Can Help Their Kid Succeed)

Flickr/Amelien Bayle

Flickr/Amelien Bayle

A recent study by UBC found that dads who do the dishes — and other household chores — tend to raise more ambitious daughters than dads who stick to more traditional (or, dare I say, outdated) gender roles and leave the kitchen duties to the women in the house.

I am not a mother (yet), but I’d say I’m a pretty ambitious daughter myself. And yes, my dad did do the dishes. In fact, he did them every single night. Coincidence? Probably. But sticking dad with kitchen duty isn’t the only way to raise daughters who want to take on the world. Check out a few things that could make a difference in my new post on WiseBread.

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Saving Money Is Easy If You Set the Right Goals

Flickr/splorp

Flickr/splorp

I clearly remember the very first thing I ever saved up for: a Sony Sports Walkman. I already had a walkman, but its vintage was questionable, its branding unrecognizable and, because my parents had bought it for me, its price was undoubtedly “reasonable.” Oh, and it totally wasn’t “shock-proof” and “waterproof.”

The problem was, the Sony version cost $65. For someone who only got a couple dollars per week of allowance, coming up with that much money wasn’t easy. Lucky for me, it turned out to be gratifying. Once amassed in $1 and $5 bills, $65 makes for a very impressive stack of cash. The kind that I was inclined to keep under the pillow, so that I could pull it out and flip it through my fingers like some casino high-roller. I began to do that frequently enough that I think my Dad finally took pity on me and chipped in the last $10.

So, although it took what felt like a very long time, I finally got my Walkman. But I got something else too: A very positive experience, the kind that probably helped me develop a better attitude about saving. Read more in my new post on WiseBread.

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5 Stupid Things My Parents Taught Me About Money

Flickr/ota_photos

Flickr/ota_photos

I don’t want to offend anyone, so I’ll start by saying this: My family has pretty good financial habits, and I was lucky to have learned a lot of them. They work hard, they avoid debt, they save up for things and, as a general rule, they stay out of financial trouble.

That said, I think my parents got a few things wrong. (Sorry, Mom.) Check out five stupid things my parents taught me about money in my new post on WiseBread.

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10 Things Your Kids (Probably) Don’t Know About Money

Flickr/Cayusa

Flickr/Cayusa

Kids are great at showing up their parents. They have all the energy and computer skills their elders lack. They still remember how to do long division by hand. And they can rattle off facts and trivia in rapid succession. But if there’s one thing most kids just don’t seem to have an inherent knack for, it’s money.

With this in mind, check out some things your kids will be totally clueless about – unless you teach them – in my new article on GoldenGirlFinance.com.

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Small Indulgences: Why Raising Kids Is Costing More Than It Should

Flickr/Yelnoc

Flickr/Yelnoc

In 2011, MoneySense magazine estimated the total cost of raising a kid in Canada: $243,660. That amounts to a cost of about $1.45 for every hour of your child’s life. Fortunately, many parenting experts are saying that some of the things parents are paying for these days aren’t necessary – and many are just plain over-the-top. Find out what kinds of expenses raising a child now commands and why in some cases, it might pay for parents (and kids) to go without in my new post on GoldenGirlFinance.com.

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Why You Should Nurture the Entrepreneur in Your Kid

Flickr/CrazyUncleJoe

Flickr/CrazyUncleJoe

When we look at our kids, we don’t typically think of them as mini business moguls. But maybe we should. After all, children are naturally smart about money; it doesn’t take them long to figure out that the world is full of things they want and that many of those things include a price tag. Where parents often struggle is in balancing providing for their children with teaching them how to provide for themselves. Rather than just giving them the money to buy whatever their little hearts’ desire, some parents might be surprised to learn that the answer may be teaching them how to earn it – and starting young.

At least that’s what Gail Haynes, author of “The Lemonade Stand Millionaire: A Parent’s Guide to Encouraging the Entrepreneurial Spirit in Your Kids”, believes. In fact, she suggests that teaching and encouraging entrepreneurship in kids right from the get-go is part of a sound financial education.

Don’t worry – we’re not talking about a hard-driving campaign to make your 2-year-old the next Mark Zuckerberg. Instead, it’s about helping kids build the confidence to do anything, no matter where their interests lead them into adulthood; and, ensuring they have the money skills to keep them from landing where so many adults have fallen before: broke, in debt and out of options.

Why should you nurture little entrepreneurs? Check out a few key reasons why it’s fundamental to any child’s financial education in my new post on GoldenGirlFinance.com.

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Can you put a price on a stay-at-home mom?

n September 2012, Samantha Schlichting, a young Manitoba mom, was killed when a drunk driver hit her head-on in a highway collision. The loss was profound – one that left behind family, friends, a partner and two very young children. It was a loss that most families can’t even begin to imagine, much less discuss – or plan for.

We don’t like to think about worst-case scenarios and, perhaps only naturally, we don’t like to think about them in terms of how they’d affect our bottom line. Who really cares about money at a time when you’ve clearly lost something so priceless? Unfortunately, the hard reality is that many of the biggest heartaches in life include a financial component. And while we may ignore that fact to protect our hearts, by doing so we are putting the people we love at risk.

As a stay-at-home mom, Schlichting worked to care for her two children while her partner put in long hours at a local asphalt plant. It’s an agreement many couples with young children still work within: one partner puts food on the table while the other feeds little mouths and little minds. And it’s no small task. If you’ve ever been a stay-at-home parent, you know it’s a full-time, ‘round-the-clock job – one that doesn’t draw a salary (except for in smiles and sticky high-fives).

Flickr/Mandajuice

Flickr/Mandajuice

But while most full-time parents and their families recognize that the work they do every day is (quite literally) priceless, that doesn’t mean it has no monetary value. According to a 2012 calculation by Salary.com, stay-at-home moms put in nearly 95 hours of work per week, working as everything from a nanny to a psychologist. Add up all those duties and a full-time, stay-at-home parent’s work amounts to as much as $112,962 per year.

As much as we’d like to hold out this number as validation for every stay-at-home parent’s invaluable role, Schlichting’s story suggests that it’s actually about a lot more than that. Practically speaking, that $112,000+ is a salary, even if mom never draws a paycheque in her life.

Indeed, when it comes to parenting, monetary value is exactly the kind we tend to overlook, not just in a social sense, but also when it comes to financial planning. Unfortunately, if you’re building a comprehensive financial plan without taking this into account, you could be missing a vital piece of the puzzle. Read more in my new article on GoldenGirlFinance.com.

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