Parenting

Investing For A Child’s Future

As I read Make Your Kid A Millionaire this week, I found myself stunned at the huge amounts of money that the book assumes that you will give to your child. I can swallow a 529, but a Roth IRA for your child? Buying a home for them? These concepts seemed like utter fairy tales …

Categories: Parenting, Planning

Make Your Kid A Millionaire: Age Thirteen to Adulthood

This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of …

Make Your Kid A Millionaire: Ages Seven to Twelve

This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of …

Make Your Kid A Millionaire: Prebirth Through 6 Years

This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of …

Make Your Kid A Millionaire: Overview

This week, The Simple Dollar is conducting a detailed review of Kevin McKinley’s Make Your Kid A Millionaire. This title focuses on the role parents play in building a net worth for their child, both financially and psychologically. Does this book provide some interesting insights, or is it merely a repeat of the power of …

The True Cost of Generic Diapers

Before our son was born, we had a baby shower in which we asked everyone to bring a small package of a different kind of diaper in newborn and stage one sizes. We actually made a list of them, giving the harder to find ones to closer relatives and the easier ones to more distant …

Investing A Young Child’s Allowance

When I was young, my best friend’s family used to give him and his siblings an allowance based on their age (I didn’t have an allowance, mostly because there simply wasn’t the money for it). When you were ten, for example, you would multiply your age by a certain factor (in their case, $1) and …

Categories: Investing, Parenting

The Inspiration For The Simple Dollar

Today, I thought I would introduce you to the inspiration for The Simple Dollar. It’s not my own money, or someone else’s money; it’s a person. Joe is a little boy who just turned one year old. Just one year ago, I was sitting in a hospital holding him for the first time. As I’ve …

Categories: Meta, Parenting

The Road to Financial Armageddon #8: Meltdown

Yesterday, I detailed the impact of a baby on my downward financial spiral; suffice it to say, the finances were not good. Everything was set up for a collapse and I inched up to the precipice, largely oblivious of how close I was to the lip of Mount Doom. The most fundamental problem was that …

The Road to Financial Armageddon #7: Here Comes Baby

Yesterday, I talked about the period in my life where my wife and I spent money like it was going out of style in order to obtain a “yuppie” lifestyle. Then, that magic moment happened: we took a home pregnancy test and discovered that a little one was on the way. I can remember that …

Saving On A Child’s First Birthday Party

We wanted to create a first birthday party for our child that would be full of memories for all of the attendees and would make for a great home movie for him to watch later (as he is too young to remember it himself), but since he is only one, we didn’t want to have …

Categories: Frugality, Parenting

Free Toys For Your Infant Or Toddler

When my son was born, I wanted him to have the best of everything, so at first we spent a good deal of money on all sorts of stuff. Rattles, balls, play pens, and so forth – we dumped a lot of money on these things. Do you want to guess what his three favorite …

Categories: Frugality, Parenting

Six Surprising Ways To Save Money With A Baby

It’s amazing how a baby can turn your life upside down. There is nothing that surpasses the feeling of holding your own child for the first time, looking down at the baby’s face, and realizing that they depend on you for everything. What you soon find out, though, is that everything is quite expensive. Here …

Categories: Frugality, Parenting

The Road To Financial Armageddon #1: The Earliest Mistakes

A wise man once said “The man who makes no mistakes does not usually make anything.” It took me a long time to summon the courage to admit that it was my own mistakes that led me to financial armageddon. It required me to admit that not only had I been making mistakes since my …

Educating Children on Fiscal Responsibility

I grew up in a very poor home. We had so little money that we were required to grow, fish, and hunt for some of our food, and I remember many nights where we had “mystery stew” and other such dishes that were made up of whatever could be thrown into a pot together. To …

Categories: Parenting, Saving Money