Steps to Financial Freedom: Teaching Children Smart Financial Habits

first_imgMaking savings and smart financial decision making a part of the daily family conversation is an excellent way for parents to encourage this responsible behavior.What strategies for teaching children about smart spending have you heard about? What works well? What doesn’t work so well? Contributions by Molly Herndon and Carolyn BirdOne of the most important things a parent can instill in their child is a sense of financial responsibility, but talking to children about money is often not a priority for parents. Parents who model smart financial behavior teach even very young children how to make decisions that align with their values and goals. A very basic message parents can share with children is that financial decision-making is about making choices. Parents who are intentional about children how to make choices among many options have a better chance at being successful in helping their children develop the practice of active decision-making. The best news is a little effort can have a big payoff, as these lessons are likely to be carried into adulthood. Here, in the final installment in the November-long “Steps to Financial Freedom” series we offer tips PFMs can suggest to families to teach their children to be savvy consumers.Look for Teachable MomentsA family’s day is made up hundreds of opportunities to talk about money. Whether your client’s family is shopping, watching television commercials, running errands, paying bills, or buying gas, each consumer exchange presents a chance to teach valuable lessons. Encourage clients to take the time to engage their child in the process by explaining what’s happening, asking questions, and answering their child’s questions. A teachable moment can be as simple as letting the child know that if they spend all their money at the fast food restaurant, then there won’t be enough money to buy the action figure when you go to the store later that day or week. It won’t take long for the child to understand that once the money is spent that other items cannot be purchased. Soon, the child will begin to prioritize what is important to them without parental coaching.Parents don’t have to go it alone. The program Thrive by 5 is designed to teach preschoolers about saving and spending. Involving your older children in your decision process can provide valuable lessons. Encourage your clients to help older children learn to be savvy decision-makers by helping their parents identify sales and better prices. Soliciting children’s observations about banking and credit processes gives parents an opportunity to gauge the child’s understanding, correct misperceptions, and to reinforce valid observations. However, the most valuable moments are the observations children make are those of their parent’s financial management practices. So, a great place to start in teaching financially savvy children is to support clients in striving to be a financially responsible role model.Use Current EventsSome parents may avoid topical conversations about the economy and finances in front of their children out of a fear of making their children anxious. PFMs, you can teach your clients that talking about the economy may actually decrease children’s anxieties. Tell clients they don’t have to shy away from discussing the current state of the economy; just find a way to reach the child on their level. The NYU Child Study Center has some suggestions on how to approach the topic of the economic downturn, by a child’s developmental stage.It is important to talk to children if a friend or relative has lost a job. Tell clients to explain why this happens and talk about any anxiety the economy may be causing for their children. Specific to military families, openly discussing how deployment impacts a family’s finances can relieve children’s fears. Prompt clients to talk about changes to a family’s finances and the adjustments that will need to be made.Family Engagement America Saves has a Military Youth Saves program in which kids can take a pledge to save, get tips for saving, and parents can read suggestions for smart saving strategies. We will highlight the Military Saves campaign in a future posting, when the campaign gets up and rolling in the early part of 2012.Families should look for ways to save and budget together so that children can learn by contributing to the development of a healthy spending plan. Tell clients to ask children to come up with new ways to save money in the house. For example, parents can ask children to determine which pizza coupon offers the better deal.Some families might decide to give children allowances in exchange for chores; suggest clients assign a monetary value to certain tasks in the home so that even very young children may begin to understand the consumer process. Parents should also be encouraged to help their child manage their money by supporting their saving for goals, which teaches the lesson of being rewarded for saving.last_img read more

Nikola Jokic, Jamal Murray lead Nuggets past Trail Blazers

first_imgDenver Nuggets center Nikola Jokic, left, looks to pass the ball as Portland Trail Blazers forward Al-Farouq Aminu defends in the first half of an NBA basketball game Sunday, Jan. 13, 2019, in Denver. (AP Photo/David Zalubowski)DENVER — Nikola Jokic scored a season-high 40 points, Jamal Murray fought through a bloody lip to add 24 and the Denver Nuggets beat the Portland Trail Blazers 116-113 on Sunday night.Jokic finished a point off his career high. He added 10 rebounds and eight assists, just missing his sixth-triple double of the season.ADVERTISEMENT PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Portland, though, scored the first six points of the fourth, moving in front by a point on Evan Turner’s jumper.It was tied at 108 when Jokic hit a floater in the lane to put the Nuggets on top with 1:07 left to play. He added a pair of free throws moments later only to see Lillard drive to the basket for a dunk. With 30.6 seconds, Murray hit a jumper, but McCollum connected on 3-pointer to pull Portland within one with 27.7 seconds left.Denver ran the clock down and Murray let a jumper fly that hit the back of the rim and bounced out. Murray grabbed the rebound, was fouled and made both free throws with 3 seconds left. Portland had just enough time for a long 3-point try by Lillard at the buzzer, but — Paul Millsap in his face — it was off the mark.TIP-INSTrail Blazers: F Maurice Harkless remains sidelined by a left knee injury.ADVERTISEMENT Murray’s lip was bloodied when he took an elbow to the mouth from Jusuf Nurkic on a drive to the basket early in the third quarter. Murray hit both free throws before heading to the locker room to get the injury tended to. He was back in the game within minutes, and grabbed a rebound off his own missed shot in the final moments, hitting both free throws after he was fouled to help the Nuggets stave off Portland.Denver rebounded from a loss at Phoenix on Saturday night for its 12th home win in a row.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsDamian Lillard led Portland with 26 points, and CJ McCollum had 18 points. The Trail Blazers had won four straight.Lillard put in a reverse layup to put the Trail Blazers up by two with 5:48 remaining in the third quarter. But the Nuggets closed the period on a 17-10 run to take a 93-88 lead into the fourth. Jokic had 15 of his points in the period, including two 3-pointers during the Nuggets’ surge and also added an assist on an alley-oop pass that Mason Plumlee finished with a one-handed dunk. SEA Games: Biñan football stadium stands out in preparedness, completion TS Kammuri to enter PAR possibly a day after SEA Games opening LOOK: Joyce Pring goes public with engagement to Juancho Triviño Steph Curry scores 48, hits 11 3s as Warriors beat Mavs Don’t miss out on the latest news and information. Is Luis Manzano planning to propose to Jessy Mendiola?center_img SEA Games hosting troubles anger Duterte MOST READ SEA Games: Biñan football stadium stands out in preparedness, completion LOOK: Joyce Pring goes public with engagement to Juancho Triviño LATEST STORIES Private companies step in to help SEA Games hosting Nuggets: G Gary Harris missed a fourth straight game with left hamstring tightness. … F Trey Lyles missed his second game in a row with a right wrist sprain. … Jokic scored a career-best 41 points against Brooklyn on Nov. 7, 2017.UP NEXTTrail Blazers: At Sacramento on Monday night.Nuggets: Host Golden State on Tuesday nightSports Related Videospowered by AdSparcRead Next View commentslast_img read more

Wimbledon targets using serve clock at 2020 tournament

first_imgDon’t miss out on the latest news and information. DA eyes importing ‘galunggong’ anew Cayetano: Senate, Drilon to be blamed for SEA Games mess Lewis says the clock would be “not a rule change, just a visible device on the court to manage the rule.”Players have 25 seconds to prepare after a point for the next first serve. They are first warned, then assessed a fault for the second violation.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logisticsWimbledon will have a 38 million pounds ($49.5 million) prize fund this year and give the men’s and women’s singles champions a 4.4% raise to 2.35 million pounds ($3.06 million).First-round losers get a 15% raise to 45,000 pounds ($58,600). FILE – A detailed shot of a serve clock is seen in Louis Armstrong Stadium prior to the start of the 2018 US Open at the USTA Billie Jean King National Tennis Center on August 24, 2018 in the Flushing neighborhood of the Queens borough of New York City. Mike Stobe/Getty Images for USTA/AFPLONDON — Wimbledon is “highly likely” at the 2020 tournament to introduce a serve clock for players that debuted in Grand Slams at last year’s US Open.Tournament CEO Richard Lewis detailed the timetable at a news conference on Tuesday which announced a near-12% raise in prize money for the July 1-14 edition.ADVERTISEMENT LATEST STORIES Trending Articles PLAY LIST 00:50Trending Articles01:15DOH wants a drug rehab center in every region00:50Trending Articles02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss SEA Games hosting troubles anger Duterte View comments Philippine Arena Interchange inaugurated MOST READ PBA D-League: Metropac-San Beda clobbers Trinity, rises to 1st place tie with CEU Wimbledon’s No. 1 court will have a new retractable roof and increased capacity of 12,345.Sports Related Videospowered by AdSparcRead Next Panelo: Duterte ‘angry’ with SEA Games hosting hassles Private companies step in to help SEA Games hosting Duterte wants probe of SEA Games mess Hontiveros presses for security audit of national power gridlast_img read more