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How We Do Random Acts of Kindness

Random Acts of Kindness are a wonderful way to get your kids involved in spreading joy throughout the world. We have our kids set aside money to give to others out of every allowance, but sometimes they struggle to know how to actually give it away. And in the same way I believe it's important for kids to touch and work with actual dollar bills to really gain an understanding of money, I think having them physically give away their money makes a bigger impact in their developing minds than they would get by clicking a few buttons on a website to make a donation. So putting those two things together, I came up with the idea for a Random Acts of Kindness...

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Five Rules for Kids for Money Management Success

Beyond the Bank binders were designed to be flexible for the different ways parents decide to handle money with their kids - meaning they aren't tied to chores or allowance nor do they require specific percentages for how kids should divvy up their money. How you handle money is personal, after all, but there are some general guiding principles that will help kids start to learn the basic skills to be successful stewards of their money. These rules can be implemented with a Beyond the Bank binder or just with a jar or envelope system. What's most important is that kids start building these foundational habits as early as possible. Rule #1 Make a Plan for How to Allocate Money to Save,...

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3 Ways to Use the Invest Category

Beyond the Bank binders include a category called Invest. It's intended to be a very long term savings and possibly a way for kids to start learning the concepts of compound interest. Here are three ways this section can be used, depending on how involved the parents or adults want to be. 1 - A simple long term savings category The Save category is designed for short term savings - teaching kids about delayed gratification and how to recognize their values as they add items to their Wish List and save up to buy them. But the long term savings category is just as important for building the skills that will help them save up cash cushions and retirement accounts as adults. Treating...

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