SUCCESS STORY OF THE MONTH
Lost phone. Found funds.
Your daughter loses her phone. Then, with zero drama, she calmly pays for a replacement and moves on.
Yeah, right.
No, seriously. True story! Michelle shared it in our Parent Community right here.
What’s the magic secret? An emergency fund.
As Michelle tells it:
“As we knew it would one day, it finally happened — my daughter lost her cell phone. Luckily, she’s been using FamZoo for many years and has built up an ‘unexpected expenses’ fund. She got firsthand experience this week with what that fund is used for! Seeing that account every time she logged in to FamZoo was tough for her at first, and she wanted to use that money ‘now.’ Luckily, she resisted, and she said this week, ‘I’m so glad I have my FamZoo account so that I know what my money is for.’ ”
That warms my financial literacy heart. Excuse me while I wipe these tears of joy from my eyes.
Just think of the dent we’d put in consumer debt if every kid experienced the magic of an emergency fund before leaving high school...
HOW TO GET STARTED
TIP OF THE MONTH
Fess up, fool.
Do you ever share your money mess up stories with your kids?
I think it’s helpful to do so. It reminds the kids we’re all human. Your candor demonstrates it’s safe for the kids to confide in you about their own inevitable money stumbles. The benefit? You might just nip a problem at the bud before it snowballs into a full-fledged financial disaster.
So here’s a $97 per month money mess up I just shared with my kids...
CHUCKLE AT MY IDIOCY
STAT OF THE MONTH
Save, give. Then, spend.
On average, FamZoo kids with splits are currently saving 27.6% of their income.
And allotting 10.2% to giving 💗.
I love it!
ABOUT SPLITS
COMMUNITY HIGHLIGHTS
Join the discussion!
Recent highlights from the private FamZoo parent community include:
- the “good” vs “bad” info-graphic to share with your kids 📊,
- Julie’s question about who should sign the back of the card 🖋️, and
- the discussion Brandi kicked off about paper vs digital for chore lists.
Good stuff!
We have a terrific mix of veteran FamZoo parents and folks who are just getting started, so don't be shy either way.
COME JOIN US
QUOTE OF THE MONTH
You’re not the boss of me!
Share this classic quote from a Roman Stoic to remind your kids who needs to be in charge when it comes to money:
“Wealth is the slave of a wise man. The master of a fool.”
~ Seneca
Alas, it took me 13 years to turn the tables on that darn storage unit...
SHOUTOUTS OF THE MONTH
A big THANK YOU to...
- Maggie — for her detailed accounting of making the transition from cash to FamZoo cards with her 10 year old. Check it out (along with tons of other thoughtful kids & money posts) at National Bank of Mom.
- Elizabeth D.G. — for being our top contributor in the parent community last month. Sharing the wisdom. Love it!
- Karrie — for providing our first Facebook recommendation! Facebook just switched over from their star-based ratings model to a new recommendations-based model. Thank you for jump-starting us. I hope other parents will follow suit. Hint, hint. We need all the help we can get in spreading the youth FinLit word! 😃
ALWAYS HAPPY TO HELP
Dear Bill...
Got a question, comment, concern, suggestion?
I’m no robot, just an everyday dad. Hit reply, and I’ll respond.
Or catch up with me on Facebook or Twitter.
Best to you and your family,
Bill
Founder, FamZoo.com
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