Kids want it NOW! Are YOU teaching them about instant gratification OR to use money wisely? You are their most influential teacher. If you teach Madison about being responsible with money at an early age, she will grow up "just knowing" how to use her income wisely...she will already be a Prosperity Thinker. OR you can just send her out into the world and let the wolves take advantage of her. It is you job to teach your children to handle matters for themselves. Someday they might be taking care of you!

Young Children Here's an idea we use in our program to teach young children about money, starting at age 3. This is a 3 Step Process that helps kids begin to understand the concept of obtaining money from working, doing chores (not getting free allowances), then how to spend it, by using three envelopes labeled:

Giving - teaches about sharing; and that "giving is receiving" because we feel good doing it!Savings - teaches about patience and using cash instead of credit.Spending - teaches a child how to plan their money, make wise choices, have priorities, and be financially responsible.At this age, we recommend that parents don't lend their children money...give it to them or have them save for what they want. Did you know...the fastest growing group of bankruptcy filers are people under 25 years old? Don't let your child become a statistic.

Teenage Children Got teenagers? Then it is time to up the stakes and take it to the next level.

1. Earning - jobs need to be done around the house and other jobs are extra tasks that can help them earn extra money. Room and board first, then they start earning.

2. Saving - you must start the foundation of setting back money in savings to build security and independence. Cash is king and always will be.

3. Spending - giving greater freedom in choices while still in the safety of the home will help teenagers make mistakes that they can recover from. Not all decisions are good or bad, but they all have a price. And now is the time to learn.

4. Planning- by this time a teenager can start planning in advance for larger items that require more than one pay cycle of earnings. Without wiping out their savings.

5. Barging hunting- the best way to make money is to save money on the things you need. Shopping around or buying used and using coupons teaches a child to get the most out of their hard earned money.

6. Lending - Now might be the time to let you child take out a loan with you to make a major purchase. Set up a payment plan and stick to it. Their must be a penalty for not paying on time and a cost for borrowing the money. Also point out several months later where that major purchase wound up, either being used or in the trash to teach about the downside to impulse buying.

Money and Fun Learning Have some fun when you go to a restaurant; determine the total cost of a meal then have your child "budget" for their entrée, drink and dessert. Give them the cash. Whatever they don't spend (i.e.; drinking water instead of pop) they get to keep. And they do have to eat healthy!

401 (k) Match for children Show you kids the power of saving money with some sort of matching funds game. If they save over $100.00 in two months you will put in up to $100.00 as a bonus. This empowers children to learn the value of money making money and supports a wise savings plan.

I invite you today to change your mind, change your finances, and then change your life and the lives of your children to live MORE financially free with chronic peace of mind.