What are "financial jobs?"
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How to Teach Your Kids About Money
Why is it important to teach my kids about money?
How early should I begin teaching my kids about money?
Should I rely on schools to educate my children about money?
What are good ways to teach younger children about money?
Should I give my kids an allowance?
What is the right amount of allowance to give my children?
Should allowances be tied to chores?
What are "financial jobs?"
How can I help my teens learn good money habits?
At what age should my children open a savings account?
What are some everyday ways to teach my children about money?
At what age should my children get a debit card?
At what age should my children get a credit card?
Should I use money to reward or punish my children?
At what age should my children get a job?
Should my children donate to charities?
How much should my children contribute to savings for college?
How can I teach my children to invest money?
How can I set a good financial example as a parent?
What do I say to my children if we manage money badly as parents?
What do I do when my children ask for expensive things?
Should we discuss finances as a family?
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Successful Money Saving Steps
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Annuitizing Income
Picking The Perfect Financial Planner
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Saving Money With Coupons
Investment For Beginners
Investment Planning
Best Investment Options
Investment Strategies
Investment Management
Janet Bodnar is deputy editor of Kiplinger's Personal Finance magazine, for which she has written articles on a wide range of topics, including investing, money management and the economy.
Bodnar is a nationally recognized expert in the field of children's and family finances. Her latest book is Money Smart Women: Everything You Need to Know to Achieve a Lifetime of Financial Security (Kaplan). She speaks frequently on the subject of women and money.
Bodnar's "Money-Smart Kids" column appears regularly in Kiplinger's magazine and at <a>www.kiplinger.com/columns/kids</a>. It was chosen by Moneysmartz.com as one of the top financial columns online. Bodnar is also the kids and money coach on the AOL Coaches site.
Her book Raising Money Smart Kids (Kaplan Publishing) was a finalist in the personal finance category of the Books for a Better Life awards, honoring the best self-improvement books of 2005. It was also a selection of the Washington Post's Color of Money book club.
Bodnar has appeared on Oprah, Today, Good Morning America, The Early Show on CBS, Fox, CNN and PBS. She has done hundreds of radio and TV interviews and appears regularly on WUSA, the CBS-TV affiliate in Washington, D.C., and WTOP, the major all-news radio station in Washington. She is a popular speaker and has been quoted in publications ranging from The Wall Street Journal and Institutional Investor to Parents and Glamour.
Bodnar has been recognized by American University for excellence in personal finance reporting, and by the National Council on Family Relations for her televised reports on children and money. The audio version of her book (read by the author) received three "best of" awards, from Publishers Weekly (business category), Library Journal (nonfiction) and the Audio Publishers Association (educational category).
Prior to joining Kiplinger's, Bodnar worked for The Providence Journal and The Washington Post. She received her master's degree in journalism from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.
Married, she is the mother of three children.
What are "financial jobs?"
Family financial expert Janet Bodnar discusses how to teach your kids about money, including what are "financial jobs."
Transcripts
Speaker: What are financial jobs? Janet Bodnar: Well, financial jobs are certain responsibilities, financial responsibilities that you give to your child. Now, for a young child the six or seven-year-old, it could be a very simple thing like paying for their own collectibles. It could be anything from Trading Cards to Hot Wheels Racers to Beanie Babies or hair frou-frous, art pencils whatever they like to collect, but it's their responsibility, so they have to pay for with their own money, could also be refreshments. When my kids were little, we used to go the movies a lot on Friday afternoons and I would pay for the movies, but the kids have to buy their own soft drinks and they knew which movie theater state free refills on their soft drinks. So something like that is very simple for a six or seven or eight-year-old and then as the kids get older, you can expand the responsibilities. If your middleschooler is going to the mall every weekend with his or her friends, he or she should not be hitting you up for 20 bucks every time he leaves the house. That money should be coming out of his allowance. It should be build into his allowance and as the kids get older they can pay for their own birthday gifts for their friends and they learned very quickly not shop at the most expensive stores or to give thoughtful gifts that their friend might really appreciate and not just rushing out and buying them something or having you buy something and you can extend this system even into the teenage years where kids can have their own clothing allowances. So then they can have even more responsibility with bigger amounts of money to pay for articles or clothing which they probably wouldn't do when they were younger, but the beauty of the system is that you can expand the responsibilities as the kids get older.
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