Teach pre-teens about money: Dollars and Sense Show # 9

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In this episode of the  Dollars and Sense Show host Carol Topp discusses teaching your pre-teens about money.

Listen to the show here 

Show notes:

Recap: Our motivation to be teaching kids about money:
Other people’s bad examples are all around us, including the US government.
Avoid excessive debt. College debt now exceeds credit card debt.
Someone is watching!
Avoid boomerang kids. We are raising adults, not children

How to Teach
Natural style. As you go about your day. Real life examples.
Get someone else: Sunday school, Scouts, Homeschool co-op
Focused teaching: Family nights, games, books

What to Teach: Pre-teens

  • Allowance. Not always in cash. Try a clothing allowance
  • Savings Account. Power of compound interest. Match their savings.
  • What things cost. Houses, cars, pets, clothes, etc. Explain sales tax.
  • What people earn. Occupations.
  • Start earning money. Extra chores around the house or for family and neighbors. Really motivated kids should read Micro Business for Teens

Resources:

Boy Scouts, American Heritage Girls money badges
The Secret of Handling Money God’s Way from Crown.org Ages 8-12. 12 lessons. individual or class
Money Matters for Teens Age 11-14 Edition by Larry Burkett (oldie but still available)

Career Exploration article Pursuing Their Dreams: Career Exploration for High School Students
Schoolhouse Teachers offers my Career Exploration 8 week class
Micro Business for Teens
Starting a Micro Business television program on YouTube

Kids can play popular online money management games such as Road Trip to Savings, Financial Football, Peter Pig’s Money counter, Money Metropolis, Financial Soccer, Record shop tycoon, Burger Restaurant

 I’m not familiar with these games, so if you have an opinion for or against, please drop a note in the comments.

Tune in for the next Dollars and Sense show on February 13, 2014 when I will discuss teaching your teenager about managing money.

Carol Topp, CPA

 

Teach kids about money: Dollars and Sense Show # 8

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In this episode of the  Dollars and Sense Show host Carol Topp discusses teaching your elementary age kids about money

Listen to the show here 

Show notes:

Our motivation to be teaching kids about money:
Someone is watching!
Avoid boomerang kids
We are raising adults, not children
Other people’s bad examples are all around us, including the US government.
Avoid excessive debt. College debt now exceeds credit card debt.

How to Teach
Natural style
Deut 6:6-7enThese commandments that I give you today are to be upon your hearts. Impress them on your children. Talk about them when you sit at home and when you walk along the road, when you lie down and when you get up.

Get someone else: Sunday school, Scouts, Homeschool co-op
Focused teaching: Family nights, Games, Book work

What to Teach: Elementary kids

  • Divisions of Money:Give, Save, Spend. Bank with three compartments
  • Money is limited. They must make choices.
  • Delayed Gratification.
  • Plan ahead. Create a shopping list. Plan a dinner. Start an allowance. Have them save for a goal.
  • Respect things. Furniture, other people’s items, pick up their clothes, don’t lose your calculator

 

Resources:

Family Times Virtue Pack (songs, meal time cards, bedtime stories, etc) from www.Crown.org
ABC’s of Handling Money God’s Way www.Crown.org
Money Matters: Family Night Tool Chest by Jim Weidmann
Junior’s Adventures and more from Dave Ramsey
Books by John Rosemond

 

Tune in for the next Dollars and Sense show on January 30, 2014 when Carol will discuss teaching your pre-teens about managing money.

 

 

Homeschool co-ops and money!

Homeschool CPA, Carol Topp, was recently interviewed on the podcast Homeschooling Co-op Style by host Pat Wesolowski.

Podcast host Pat Wesolowski

 

 

Carol and Pat discussed the ins and outs of money matters in regard to co-ops and other issues that pertain to homeschoolers (such as fund raising)!

The thought of formalizing your co-op into a non-profit might not have entered your mind.

However, there are benefits to becoming a non-profit and, if you hire teachers you may find it quite beneficial.

Listen to the podcast here

The podcast runs about 30 minutes. Listen in iTunes here!

Teach preschoolers about money: Dollars and Sense Show # 7

 

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In this episode of the  Dollars and Sense Show host Carol Topp discusses teaching your preschooler about money

Listen to the show here 

Show notes:

Our motivation to be teaching kids about money:
Someone is watching! so, be a good example
Avoid boomerang kids (those who leave home, only to return, usually because of financial problems)
We are raising adults, not children
Other people’s bad examples are all around us, including the US government. Use testimonies. Listen to Dave Ramsey’s radio show for examples of financial mistakes and how to correct them.
Avoid excessive debt. College debt now exceeds credit card debt.

 

How to Teach

Natural style

  • Deut 6:6-7enThese commandments that I give you today are to be upon your hearts. Impress them on your children. Talk about them when you sit at home and when you walk along the road, when you lie down and when you get up.
  • Stores, Eating out

Get someone else

  • Sunday school
  • Scouts
  • Homeschool co-op

Focused teaching

  • Family nights
  • Games
  • Book work

What to Teach: Preschool

  • “Mine” (self-centerness) needs to be corrected in preschoolers
  • Benign Deprivation. From John Rosemond author of The New Six Point Plan for Raising Happy, Healthy Children. “Give them all of their needs and only 25% of their wants”
  • Vitamin N: Give them protection, affection and direction, but say “no” more often than “yes”
  • Don’t do for children what they can do on their own.

Resources:

Family Times Virtue Pack (songs, meal time cards, bedtime stories, etc) from www.Crown.org
ABC’s of Handling Money God’s Way www.Crown.org
Money Matters: Family Night Tool Chest by Jim Weidmann
Junior’s Adventures and more from Dave Ramsey
Books by John Rosemond

 

Tune in for the next Dollars and Sense show on January 16, 2014 when Carol will discuss teaching your elementary-age kids about managing money.

 

 

Teaching kids about money: Carol Topp on Homeschool Leadercast

I was a guest on a new podcast for homeschool families, Homeschool Leadercast

Listen here

On the 30 minute podcast host Jeremy Jensenovec and I talked about

  • What a micro business is.
  • How teens can start a micro business
  • Reasons a homeschool parent would want to encourage their children to start a micro business.
  • How a parent would encourage a teen in a business venture and what a parent’s role is.
  • Why it’s important to teach your kids about money.
  • How a parent can teach a child to be responsible with money even when they haven’t been themselves.
  • She’ll talk about the resources available on Microbusinessforteens.com and HomeschoolCPA.com

Here’s some show notes from the podcast.

 

HomeschoolLeadercast has a great lineup of speakers like Dr Jay Wile, Linda Hobar, Israel Wayne, teen author Rachel Coker and more.

I subscribed on iTunes. I also use Downcast on my smartphone to listen to podcasts while I talk a walk or do the dishes.

 

 

Starting a nonprofit homeschool group correctly! Dollars and Sense Show # 5

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In this episode of the  Dollars and Sense Show host Carol Topp discusses

Starting a nonprofit homeschool group correctly

In this episode,  Carol  discusses how to start a nonprofit homeschool group. She shares her knowledge as the Homeschool CPA on important steps to take when organizing a group such as having a board and a clear mission. She’ll also share tips on how to legally operate your homeschool group.

Listen to the show here

Three steps to launching (or running) a successful homeschool organization:

1. Board: Chose a group of leaders so no one carries the burden of leading alone.

2. Bylaws: Write up bylaws to structure your group. Decide the Who, What, Where, How often and How much issues. In the bylaws mention its purpose (what), its members (who) and its leaders. The Where, how often and how much change frequently and do not belong in the bylaws.

Sample bylaws here

3. Budget: Planning with numbers. Estimate your income and your expenses. Plan a small surplus for emergencies.

Cover Money Mgmt HS Org

Carol’s new book, Money Management in a Homeschool Organization will help your treasurer create a budget and stick to it!

 

On the show Carol mentioned:

Tune in for the next Dollars and Sense show on December 19, 2013 when Carol will discuss tax exemption and how to get it for your homeschool group.

 

Unplug the Christmas Machine. Dollars and Sense Show # 4

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In this episode of the  Dollars and Sense Show host Carol Topp’s topic is:

Unplug the Christmas Machine

About 20 years ago, Carol read a book Unplug the Christmas Machine by Jo Robinson and Jean Staeheli that transformed the way she and her family celebrated Christmas. She shares her plan for having a less stressful, more joyful, debt-free Christmas.

Listen to the show here

On the show Carol mentioned the four things children really want for Christmas:

Time with parents and the family

  • Kids spell love T-I-M-E.
  • Consider what you really enjoy about the Christmas season. What traditions, activities or occasions were particularly pleasurable to you? What brings you peace and joy?
  • Encourage time-related activities instead of stuff-giving.
  • Have a plan for Christmas day and the day after to ward off boredom.

Reliable traditions

  • Traditions can be simple such as the same decorations on the tree year after year, visiting a local nativity, watching the movie A Christmas Story, or doing a puzzle and drinking hot chocolate.
  • Consider asking your children to donate a nearly-new toy that they rarely play with to a homeless shelter or Toys for Tots campaign.

Realistic expectations about gifts

  • Talk to your children and spouse about realistic expectations and the real reason for the season.
  • Ask your children for ideas on how to make Christmas more Christ-centered. They may surprise you!
  • Teach your children to recognize advertising slogans that emphasize spending, consumerism and a false sense of perfection for the holidays.
  • Consider buying only for children and not adults.
  • Consider buying one gift for an entire family
  • Pay for gifts in cash. Studies have shown that we spend up to 20% more when we use debit or credit cards instead of cash.
  • Talk to your children about proper behavior before you enter a store. Explain that you are shopping for someone else (not them) or for necessities, not toys.

An even pace to the holiday season

  • Don’t start Christmas too early. Wait until after Thanksgiving or later to start activities.
  • Put aside count-down calendars or “letters to Santa” wish lists if they promote greed and over-emphasize the gift-aspect of the holiday.
  • Save some activities for the post-Christmas let-down such as playing games, baking cookies, watching a movie.
  • If your children receive an overabundance of toys (from grandparents or relatives), hide some away and pull them out in February or even as late as the summer.
  • Consider with holding some gifts until Epiphany (the 12th day after Christmas) which is traditionally when the Wise Men arrived with their gifts for the baby Jesus.

Four Things Children Really Want for Christmas handout. Feel free to share!

Carol also mentioned her plan for a debt-free Christmas

Carol Topp’s Plan for a Debt-Free Christmas (click to download) mini-ebook. Feel free to share!

In this 7 page mini ebook Carol includes a budget for the holidays, tips, a funny poem and a recipe that eliminates holiday baking.

 

Tune in for the next Dollars and Sense show on December 5, 2013 when Carol will discuss “Have you ever thought about starting a homeschool organization?”

 

 

Dollars and Sense Show # 3: What a business plan can do for your micro business

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In this episode of the  Dollars and Sense Show host Carol Topp discusses

What a business plan can do for your micro business

Based on her book Starting a Micro Business, Carol explains what a business plan for micro business can do for you and why a it is guaranteed to bring you success!

Listen to the show here

Show Notes:

Creating a Business Plan

Concept:

The product or service

How to measure success

Marketing

Potential customers

The competition

How you will stand out

Financial Plan

Cost to start

Price to customers

On the show Carol mentioned a YouTube video based on her book, Starting a Micro Business.

and her Pinterest page with lots of micro business ideas

Here’s a free e-booklet on creating a business plan for a micro business. This is a 24 page extract from Carol’s Micro Business for Teens books

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Tune in for the next Dollars and Sense show on November 21, 2013 when Carol will discuss Unplugging the Christmas Machine.

 

Coming soon: a homeschool radio network (podcasts galore)!

A great bunch of homeschool speakers are lined up to offer radio shows that you can listen to live or download as a podcast.

I’m one of the show hosts! My show will air every other Thursday at 1:00 pm ET and be called the Dollars and Sense Show with Carol Topp. It will focus on a topic of interest to everyone-money!

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Upcoming Show Schedule

October 10, 2013 Micro Business for Teens: What is a micro business and why is it such a great idea?
October 24, 2013 Micro Business for Teens: Finding and testing a great idea for your micro business
November 7, 2013 Micro Business for Teens: What a business plan can do for your micro business
November 21, 2013 Unplug the Christmas Machine
December 5, 2013 HomeschoolCPA: Ever thought about starting a homeschool organization?
December 19, 2013 HomeschoolCPA: What is tax exemption and how do I get it?

I’m pretty jazzed about what I have planned for in 2014:

  • How to teach your kids about money, a four show series covering preschool through high school ages.
  • Tax breaks for homeschoolers
  • Five money myths that trip up homeschool moms
  •  Avoiding pitfalls when starting a micro business
  • Easy fundraisers for homeschool groups
  • Career exploration, a four-part series helping teenagers discover a potential career or college major

The website for you to listen live is will launched soon (hopefully by September 19), so until then join the Facebook page to learn more

My show will start Thursday October 10, 2013.

Sign up for my email list (on the home page) to be notified when I have a show dedicated to homeschool leadership!