Many self-employed parents have no idea that it’s absolutely legal—and a great tax move—to hire their own kids to work in their companies. Better yet, it’s a great way to help your kids develop a work ethic, teach them some basic work skills and encourage them to work for their spending money.
As kids’ year-end report cards start coming home, many parents are considering this question: “Is it a good idea to pay our kids for doing well at school?”
In many parts of the country, it’s traditional for kids to spend a week or two—or even a month or two—away at summer camp. Each camp provides parents with packing lists. However, some of them aren’t regularly updated or are provided by idealistic camp directors rather than real families. In addition to the basics, here are some things experienced parents say are essential for kids to take to sleepaway camp:
- Fewer clothes than you think: Yes, your kid will need basics ranging from shorts to rain jackets. However, when they’re away from home, most kids wear a few of their favorite clothing items over and over. Help your kid pack enough so they can deal with different kinds of weather and have enough clothes to make it to wash day. But don’t overdo it.
- Replaceable items from home: A stuffed animal for comfort is great. Just make sure it’s not your child’s one-and-only lovey—in case it gets lost or damaged. Photos of family members, friends and beloved pets can also help cheer up homesick campers.
- Helpful gadgets: Consider sending your child with a battery-powered clip-on book light (flashlights get awkward to hold), a clip-on fan for some fresh airflow and disposable cameras for taking pictures.
- Shower helpers: For simplicity, give your camper a bottle of all-in-one body wash/shampoo/conditioner. A small water-friendly tote is great for helping campers schlep gear to the shower. Sew small loops (ribbon or bias tape works great) on towels and washcloths to make them easier for your camper to hang them in the shower room and near their bed to dry.
- Zip-top bags: They’re great for storing items like cards, camp keepsakes and other items in your child’s bunk area. Larger bags also come in handy for keeping a change of clothing dry when your camper goes on kayak trips.
- Spending money or debit card. If the camp allows it, it’s nice for your camper to be able to buy items at the camp canteen or in a nearby town, according to the American Camp Association (ACA). The Greenlight card may be safer for campers than cash and prepaid debit cards. Why? Cash can be lost, stolen or spent outside of your agreed-upon spending plan. Campers can’t withdraw cash or get cash back from their Greenlight Card. And if your child loses a prepaid debit card, it’s as good as losing cash. If your child’s Greenlight card is lost or stolen, you can quickly lock it and block purchases.
- Postcards, paper, pre-addressed envelopes and stamps: Most camps now have a “no electronics” policy. This means your child may not be able to bring a cell phone to call or text you. This can be a great thing. Not only will your phone-free child be able to focus more fully on camp activities, you may also receive a few of those beloved, old-style letters from camp!
One last tip: If possible, have your camper all packed two full days before they leave for camp. This packing tip is borrowed from travel writer Rick Steves. Advance packing gives your camper some time to really relax before taking off for camp. It also gives both you and your child a couple of bonus days to remember any last-minute items you’ve forgotten to pack!
(photo courtesy © Camp Pinewood cc2.0)
Guess which topic most parents say is easier to explain to their kids than the birds and the bees, death or politics?
You guessed it: Money. A whopping 77 percent of parents can talk more easily about finances with their kids than they can other challenging topics.
That’s good news on the financial front. It means money isn’t a taboo topic in most U.S. families, according to a new survey by Wakefield Research for Junior Achievement and the Jackson Charitable Foundation. The Children’s Financial Literacy Survey included 500 children, aged seven to 10, and their parents.
Other key survey findings:
- 77 percent of parents believe the best place for kids to learn personal finance basics is at home. Good thing, since only five U.S. states (Alabama, Missouri, Tennessee, Utah and Virginia) require high school students to take one personal finance course in order to graduate, says Champlain College’s Center for Financial Literacy. Eleven states plus the District of Columbia have zero personal finance requirements in their high school curricula.
- Parents think kids should learn about money as young as age five, and by age eight, on average. Many kids begin to start understanding the connection between numbers and money in kindergarten (“Five pennies is the same as a five-cent nickel.”). By age eight, kids may understand that money is exchanged for goods and services (i.e. to buy stuff).
- 92 percent of parents save money—for emergencies, college tuition, and retirement. Good on you, parents! You’ve got the most important savings goals covered. Of course, we don’t know how much the surveyed parents are saving. But hey, any savings amount is a good thing.
- 82 percent of kids earn allowances from parents for doing chores, getting good grades, doing homework and doing good deeds. Learn more about the pros and cons of connecting allowance to these accomplishments.
Of course, all is not rosy when it comes to kids and money. Many of the young survey respondents showed they have a lot left to learn about finances. But hey, the oldest kids surveyed were only 10. They’ve got time:
- 33 percent of the kids surveyed haven’t yet been taught how to get or earn money. Uh oh. Is that a sign that it’s time to talk about extra summer chores for pay, parents?
- 41 percent of kids don’t know how to spend money. Even kids as young as 10 can begin making some simple spending decisions. How about having your kid help pick a birthday gift (with a maximum dollar amount) for a friend? Or choose how to spend their souvenir money during your summer vacation?
- 47 percent of kids haven’t learned how to give money to help people. An easy fix: Many parents use the “three-jar system,” (or some version of it.). They require their kids to split their allowances three ways: Spending, saving and donating. This way, giving money to others becomes an automatic habit. Be sure to let your kids help decide where their donations will go.
- When asked why they think people put money in a bank, only slightly more than half (53 percent) of kids said “saving it so they won’t spend it.” First, banks and credit unions are almost invisible to kids, since parents don’t physically visit branches anymore. You could make a point to drop into your bank or credit union occasionally, or look online for kid-friendly videos like “Roles of a Bank” from CashVille Kidz.Just as important, though, is explaining to your kids how banks, budget categories and savings accounts make it easier for them to separate their spending money from savings.
- Only 25 percent of kids surveyed know you can earn interest on savings. Interest can seem like a tricky topic to explain to kids, for sure. How about sharing this “Schoolhouse Rock” classic to help make the concept clear?
For more about the survey, along with other kids, work and money topics, visit Junior Achievement’s website.
(photo courtesy © Paul Hamilton cc2.0)
The weather is improving and the school year is starting to wind down: It’s prime time for teachers to plan school field trips.
If your kids are heading out for a day trip with their class, their teacher may send home a list of items to pack. However, experienced parents know that those lists often cover just the basics. Here’s what your kids really should bring on a day trip:
- Backpack or string bag: This pack should be a bit smaller and lighter-weight than their everyday school backpack. Be sure your family’s last name is clearly marked inside the bag. Security-conscious parents suggest you not mark your child’s first name in the bag. A sketchy adult could see and use your child’s first name to suggest that they know each other. (“Hey, Jake, remember me from your dad’s work?”) Include your phone number or email somewhere inside the bag in case it gets lost.
- Cell phone (if allowed): Some schools prohibit or strongly dissuade kids from bringing phones. Instead, you may get a list of the teacher’s and chaperones’ cell phone numbers, and they’ll have your contact info. If your child takes his/her phone, consider sending them with a portable phone charger, too. The kids probably won’t have spots where they can recharge their phones during the day.
- Cash or debit card for extras: Your school may have a policy about personal money. If students are allowed to purchase extra snacks or souvenirs on the field trip, send them with a modest amount of cash or a kid-friendly debit card.
It’s a good idea to make sure your child’s debit card doesn’t allow them to withdraw cash at ATMs or get cash back (for splurges or treating their friends). Even better are kid/teen debit cards that message you before authorizing your child’s purchases.
Be sure you have account information safely stored at home or work in case your child loses their debit card. Also, make sure your child knows to contact you right away (or have a chaperone do so) if they lose their debit card. That way, you can quickly get in touch with the card issuer or use a mobile app to disable the card.
- Writing tools: Include a notebook and a pen or mechanical pencil with a clip on the side. Insert the pen/pencil into the metal spine of notebook (clip on the outside) for easy storage.
- Disposable camera: Give your child a one-time-use camera marked with their last name. You’ll develop the photos the old-fashioned way when your kid gets home.
- Wearables: Sunglasses are something most kids forget to pack but wish they had available. Depending on the weather, your child may also need a light wind or rain jacket and extra layers of clothing. An extra pair of socks is easy to carry and super helpful if it’s rainy or your kid loves stomping through any type of water.
- Refillable water bottle: An inexpensive plastic one is fine. If your child is fussy about keeping their water cold, a small, insulated water bottle is great, too.
- Packable snacks and/or lunch: If the school isn’t providing food, keep your kid’s options simple and disposable. That way, they don’t have to carry back bulky items like a lunch box or thermos.A brilliant idea: Pack your child’s lunch in one of the plastic clamshell boxes that often hold fresh fruit at the grocery store. These sturdy containers keep sandwiches and other soft items from getting squashed. Plus, your child can toss the whole container when they’re done. Need some lunch inspiration? Check out these ideas for disposable field trip lunches.
By the way, are you chaperoning a school field trip? Get the inside scoop here about field-trip volunteering, including stocking your own daypack with extra snacks, sunscreen, hand-wipes…you name it. If you actually survive taking a bus-full of kids to the art museum, planetarium or anywhere, you are a rock-star parent. Kudos to you!
(photo courtesy © Matt Stehouwer cc2.0)