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Seven Things Your Kids Should Know About Money (stanford business school)

By Marlin Rollins

 what to tell your kids about money, kids money, children money, kid and money, child and money

If I had a dollar for every time I have been asked by a parent what to tell your kids about money, I’d be a millionaire. There are many different aspects of money management you can & should tell your children about. Here I will share with you what I believe are seven of the most important principles

1. Money can be exchanged for goods or services.

This is one of the first few lessons you should teach your child once they are old enough to understand - usually around the age of 3 years. Next time you go down to the corner store to buy one or two items, let your child hand the money to the cashier. By doing so, they will gain a greater appreciation of the concept of being able to exchange money for things you want or need.

2. One should be careful with money.

Some people I know, seem to think that any coins with a value under 50 cents are just too small to be bothered using, and so when cleaning out their loose change from around the house will simply throw these smaller coins in the bin. What a waste! Encourage your child to be careful with all denominations of money, and show them how those small coins can add up, by starting a family small coins box. Maybe you could use the money to fund small family outings (a trip to the shop to get ice creams).

3. Money has to be earned.

There are many people in the world these days that don’t seem to have ever learned this lesson. They sit around home and expect handouts so they can live, or turn to a life of crime to fund their existence. Be careful not to give your child money every time he or she asks, without expecting anything in return i.e. completion of household chores.

4. Encourage one-third savings, one-third donations, one-third spending.

The exact proportions in which your child divides their money are up to each individual family to decide, based on their beliefs and the needs of the child. This can quite easily be achieved by providing them with 3 piggy banks or moneyboxes - one for spending, one for saving & one for donating.

5. Avoid borrowing money wherever possible.

It is always much harder to repay money that has been borrowed, than to save your money. Some loans, such as home loans, tend to be unavoidable though. A good rule of thumb is if you don’t have the cash to buy it, you can’t afford it!

6. Money isn’t your best friend so don’t let it control your life.

Quite simply, try not to become so over committed with your finances, that you are forced to work 60 to 70 hours a week to continue the lifestyle. If you do, then you are letting the money control your life. You don’t usually need the fancy car (and car loan) or overseas holiday (and personal loan). All these things are nice, but only if you can easily afford them!

7. Show them how to budget & live within their means

This is one of the most important skills that your child must know, that so many people don’t seem to know how to do. Recent surveys have shown, that many people are spending 10% to 20% above what they earn. They are earning enough money to fund their lifestyle, but they simply aren’t budgeting it, and so are wasting large amounts of money each week.

With these seven lessons under their belt, they will be off to a great start, but there are many more money skills that your child will benefit enormously from learning. To learn more, visit the Kids Money Tips web site.

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Professional Occupation of a Historian

By Michael Russell

 Historian in Profession

While a historian includes both amateurs and professionals, usually the professionals are better known as historians. Recent trend is to acknowledge those who have acquired at least a bachelor’s degree in the field of history and documents of the events of the past. Having such degrees is not a difficult task. Apart from multiple colleges and universities, a host of online institutes are now offering online degrees on history. Since the later part of the 19 th century historian has been recognized as one of the professional occupations.

Historian’s Job

Major task of a historian is to make historical analysis through the process of investigation and comparing the conflicting ideologies. Such method helps the historian in creating coherent narratives of the happenings of the near and far past. Today the historical analysis is usually drawn upon multiple other social sciences. Such sciences could be sociology, psychology, philosophy, anthropology, politics, linguistics, and economics to mention a few. Even the works of ancient historians’ carries immense value though may not be coherent with the modern day ideologies. Job prospects of historians are also available in college directory provided by informative websites.

Contribution of Modern Historians to Society

It is true that works of many ancient historians carry immense educative value and they have surpassed their time. Such works are also valuable with reference to the particular culture of a country or society. Many earlier historical accounts find dismissed with the new generation historians though they may be valuable in consideration of their contemporary culture.

Modern Day Historian

While the early history was highly tilted towards great men; no such thing preoccupies the minds of modern historian. Present day historian is a complete departure from the war, high politics and diplomacy based history writing of the past.

Features of Modern Historian

Since 1960s history has been continuing as one of the academic disciplines that have experienced numerous evolutions. Topics that were underestimated in the past, suddenly revived to become the highlight in many fronts. Revisionist historians at the same time are attempting to set the records as straight as possible.

For people who think that a historian is only concerned with academic affairs would find the highly educative and qualitative writings of Michael Russell who writes regularly on this website eye openers for them. The site also provides information on obtaining online degrees in the subject.

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Sunday, March 7th, 2010 at 2:10 am and is filed under education. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.