LilSugar

Does Your Baby Have a Savings Account?

LilSugar — Mon, 26 Oct 2009 06:00:34 -0700

One parenting task is to teach children how to budget and save money, but most moms and dads take savings into their own hands in the beginning. Many open a bank account for the child when they are an infant, while others may wait until the child is a bit older before stowing away the cash.

Despite your personal views on getting your tot started financially, the government is considering making the first deposit into your babies savings account by giving all newborns born in the United States a $500 contribution, which could later be used for education, a first home, or retirement. If passed by lawmakers, the America Saving for Personal Investment, Retirement, and Education (ASPIRE) Act won't be in effect until 2010, so all wee ones born before then will have to fill their accounts the old way.

Regardless of government intervention in the future, do you already have a savings account started for your baby?

Are You Ditching Date Night to Stash Cash?

babysugar — Mon, 01 Jun 2009 14:00:00 -0700

While President Obama may have declared the economy has stepped back from the brink, families are still playing it safe and trying to save a buck when possible. Many couples I know who used to have standing date nights have cut back on the sitter and have started inviting friends over for dinner in an effort to stash some cash. Has the recession caused you to cut back on dates with your hubby?
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Five Tips For Introducing Tots to Saving

LilSugar — Wed, 15 Apr 2009 16:00:00 -0700

Your tot may not be the one paying taxes, but he might have spent time with you in a long post office line or your accountant's office today. In honor of this dreaded tax day, take the opportunity to teach your youngster some fun ways to save money before he has to hand it over to Uncle Sam. The earlier we provide our children with a financial education, the more ingrained it will be in them. Check out my five tips for introducing the concept of savings to your offspring. Source

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Ecomomics: Empty Those Piggy Banks

LilSugar — Fri, 06 Mar 2009 10:00:19 -0800

The coins tossed in your kiddo's ceramic bank certainly add up! My tots have been filling up their piggy banks with spare change for quite some time so it was no surprise when my five-year-old could no longer lift hers off the bookshelf.

On a recent rainy afternoon, we decided to break it open and count coins. My two-year-old son practiced his sorting skills picking out all of the copper pennies. My daughter worked on her math by counting stacks of quarters to make a roll of $10. We were amazed to realize my children had squirreled away over $150 a piece. We deposited the money in their savings account after handing them $10 each to spend at the toy store which was clearly the highlight of the activity. The kids learned the value of a dollar and mom got a mundane task crossed off her list.

Family Collects $1,000 Worth of Spare Change

LilSugar — Mon, 26 Jan 2009 05:00:21 -0800

How often do you or your kids bend down to pick up spare change on the sidewalk? Probably not all that often, but for the Humphrey family the simple action has become a three year moneymaking venture. In total, the foursome has collected $1,084 that they plan on donating to charity. What started out as an experiment ended up teaching their two daughters the value of a dollar and currency exchange rates.

ATM Machine Bank: Kid Friendly or Are You Kidding?

babysugar — Mon, 30 Jun 2008 15:00:50 -0700

Money, money, money - do kids like playing bank? The invention of plastic cell phones and mini laptops were somewhat expected, but the Summit ATM ($30) caught me by surprise. Tots can play drive–through, only instead of just sitting pretty, this box of plastic is actually a working bank. Kids can store their dollars and coins while the machine keeps tabs of the amount.

Are you all for teaching youngsters about money or do you think an ATM machine seems a tad extravagant?

Pimp Your Crib: My Little Nest Egg

babysugar — Fri, 27 Jun 2008 10:00:24 -0700

You'll probably warn your wee one not to put all of his eggs in one basket at some point in time. But, there's no harm in stashing all of his pennies in an eggshell. A twist on the traditional piggy bank, your tot will delight in having his own My Little Nest Egg ($25) for future savings.

The shell stands eight inches tall and reads, "Whether my dreams be grand or small, my nest egg will help me save for them all." A darling gift for a boy or girl, the ceramic treasure can be personalized with the child's name and birthday.

Lil Tip: Teaching Baby About Money

babysugar — Mon, 28 Apr 2008 06:00:11 -0700

My wee one isn't even two–years–old, but I'm already thinking about how I will teach her to be financially responsible.

To learn about a fun way to teach your tot a thing or two about money, read more.

Laura Levine from Jump$tart Coalition gave her 3–year–old son a piggy bank that has four chambers for coins.

Unlike old school banks, this piglet has one for saving, one for spending, one for donating and one for investing.

Levine says she likes the bank for these two reasons:

It teaches children that money is not for just one thing and parents can easily understand how to use it.

How do you teach your mini me about money?
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How Much Does the Tooth Fairy Leave at Your House?

babysugar — Mon, 17 Mar 2008 11:00:21 -0700

My sister called me in a conundrum the other day. Her daughter is about to lose her first tooth and she wanted to see what the going rate is for pearly whites. We agreed 50 cents did the trick for us when we were tots.

When I taught first grade, the kids regularly told tales of $5 comps- some even raved about $20 prizes! When the time comes for me to wear the fairy wings, I'll be sticking to quarters. It can only get better for the babe after that. And, if the tooth fairy spoils them rotten, mommy and daddy are in BIG trouble.

How much does the tooth fairy leave at your house?

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Even Teen Burglars Have Soft Spots For Babies

babysugar — Fri, 20 Nov 2009 10:15:03 -0800

Tonight on the 6 'clock news - thieves feeding babies. Sounds crazy but that's what happened to a family in Indianapolis. While two high school students were robbing a house, a baby started to cry. Either out of the kindness of his heart or his desire to hush the baby (I'm putting my money on the latter), the 18-year-old thief warmed up a bottle of milk and allowed another child in the house to feed the wailing babe. Unfortunately the rest of the story is not so delightful. He held a gun to the head of the father of the family and threatened to kill him. In the end, it was his aunt who turned him in to the authorities. Thankfully everyone is safe and sound, especially that scared baby.