Tuesday, June 3, 2008

Family Finance


I was checking this website I discovered - Raising Kids - and found this section as a follow-up to my earlier post. It's about balancing your budget for your family and provides useful tips. Read it here.

This is written in the UK context but I believe most of the tips do apply globally too.

Two parts caught my eye. "How to raise a millionaire" contains quotes from some of Britain's best-known entrepreneurs about how their childhood experiences contributed to what they've become today. For example:

Untie your apron strings
'My mother was determined to make us independent. When I was four, she stopped the car a few miles from our house and made me find my own way home across the fields.'
Richard Branson

Encourage creativity
'You'd come home and there'd be some wooden boxes in the back garden, with a rug over them wired up to look like it was rippled, and a sheet pinned to the apple tree. My dad would go, 'Just sit there for a minute, son, before you go in to do your homework.' And there you were on a flying carpet.'
Sir Paul Smith

Be tough
'My mother had absolutely no time for self-pity. I'm the same...move on. Get on and do it, because nobody else is going to do it for you. I think that whole culture has been instilled in me. I am responsible for my life. There's no point whingeing about it, get on and make of it what you will.'
Dragon's Den Deborah Meaden


The other part "Talking to children about money" shares how you can help 4-9 year-olds realise they can't have it all and that money doesn't grow on trees, or in Caitlin's context, "if you need money, just get it from the bank".

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