Parent Resources by John-Paul's Mom

Dear Parent,

My background isn't in investing, banking or being an entrepreneur. My degrees are in philosophy and theology. And so I am a bit of a fish out of water and John-Paul's ventures and ideas are often times, if not all the time, a bit overwhelming and challenging. Truly we have made some mistakes along the way and when we do, we most certainly make them together. As a parent it can be a bit humbling because I feel like I ought to have known better because...well, because I am the parent. But luckily enough, I do know what to do with a mistake, I dust off my pride along with my skirt and say, "Well, we know not to do that ever again, now don't we!" Along our journey together I have learned what never to do again and I have learned what I would do over and over and over again.

As a parent, if you are like me, you want practical tips for your child so that they can take those beginning steps in growing up to be financially confident and free to make of their lives what they dream rather than eek out existences they regret. I am going to offer three resources. They are not promises, every child, every parent and every situation is different. They are however three things I would do over and over and over again.

  • 1. At age three when my children were just beginning to learn to distinguish differences, I began to read to my boys the book, For Every Child A Better World. This 1993 book was done in cooperation with the United Nations. Written by Kermit the Frog (Jim Henson) and illustrated by Bruce McNally, the book offers a world perspective of childhood from which priceless discussions were had and are still had with my boys.

  • 2. Playing Games: I am a person who likes fresh popped popcorn and a good board game. So to teach math, numbers and value (around age 4) I began to play Milton Bradley's Monopoly with my boys. The sad thing for me is that the game always feels a bit negative as it pits one player against another. Cashflow 101 by The Rich Dad Corporation has since replaced Monopoly at our house for the last two years. It doesn't pit player against player and almost everyone can win given time (note those last two words!) With some assistance, Sean-Michael has been able to play since he was six. Now, if you don't have lots of time, there is a computerized children's version the kids can play by themselves on the computer called Cashflow for Kids. Depending upon maturity, I would recommend that game for children, ages 4 – 8. Lest you think Cashflow 101 is for children, be assured it is not. I just recommend that it be played from childhood through adulthood. Friends of mine with teenagers have everyone throw in $10 to make winning a bit more of an interest – I realize popcorn isn't always going to be enough of a draw!

  • 3. Last but not least, I do think that the classic lemonade stand business is a must for every child in terms of memories, pride in ownership and financial instruction. The lesson of the lemonade stand needs however to not be about money, but about how money works. I believe the wrong focus can send the wrong message.

Well, dear parent, I will leave you with these three ideas. To be sure there are a myriad of resources available within the pages of this website. But from parent to parent in the cultivation of your child, your relationship with your child, and the development of a future bond of financial understanding these are my first three recommendations. I commend you for your interest in your child's financial education and future. And I hope the best for you and your child.


Blessings,
John-Paul's Mom