For the past 25 years I have been teaching people how and why to teach their kids about money.  And yet, many still struggle with how to teach their kids about their money choices.  I think I know why. Most of the adults I work with, and listen to, are genuinely wonderful parents.  They LOVE their kids.  They want to give their kids everything they did not have.  And therein lies the problem.  The “giving” is more about the parents than it is about their kids. This genuine desire to “give” everything their kids want or need is actually filling a hole parents fell ..read more

Often money is seen as the “be-all, end-all” solution to our problems. But here’s the thing – you also need to understand the language of money basics to have the freedom to make choices. And money well-managed is at your service and ready to be at least some of the solution to the challenges and opportunities life throws your way.  Here are some tips that have helped me along the way. Save a portion of every paycheck Save a portion of every dollar you earn or are gifted. It’s a habit that should be taught often and early to our children. Saving and investing wisely forces ..read more

To spend or not to spend this holiday season. It’s not really a question of what to spend or not to spend this holiday though, is it?  It’s more a question of what and how much we will spend – and why.  In addition to all the gift-giving, the holidays also give us a chance to stop, think and reflect (my favorite three words) about our life and those in our life. Experience as a holiday present This year our family decided that we would focus our birthday and holiday gift-giving on an experience rather than a bunch of gifts.  So, for two weeks we went on vacation together.  ..read more

My daughter, Allison, is one of the first Money Savvy Kids we have taught. We built Money Savvy Generation for her and her sister so they – and all kids – would be money smart. And now, she is making sure the next gen gets the same “lift”!  Here’s an excerpt from her recent blog post on Life’s a Beacham The Ultimate Baby Shower Gift I’m at that point of my life where Saturday weddings are now replaced by Sunday baby showers, and I’m loving it. Whoever decided mimosas and snacks were the perfect pregame to opening tiny shoes and tiny hats was right. Who doesn’t love tiny adorable tiny thin ..read more

Both my daughters wanted to work as soon as they could by getting a summer job.  I did not have to push them – they wanted the experience and the money.  I suspect it was also about independence.  To get her first job, Allison created a resume-without my help or knowledge – and walked around the town dropping it off hoping to get a call back for a summer job. My daughter Allison’s first job was at a shoe store. She quickly realized that it was hard to make money at $1 a pair of shoes sold on commission(!).  She then moved on to waiting tables at a local restaurant ..read more

The conventional wisdom is that in polite company one should never talk about money, politics or religion. I disagree with at least one-third of that advice; not only do I think that it’s OK to talk about money, I think that it’s vitally important to do so. Some of the best financial knowledge that I have accumulated over the years started in conversations with my parents, spouse and financial advisor. Prior to getting married, Michael and I had each been working for years and flying solo financially. We were each used to doing things our own ways. But we soon realized that in order to form a ..read more

This week, I asked my daughter Allison if she would share her perspective on the plans Michael and I made to help her when her wedding day arrived. Did it work – or not? Here is what she had to say: Susan Beacham is a nationally recognized children’s financial literacy expert and co-founder with my dad of Money Savvy Generation – and she’s my mom. So it will likely be no surprise to you, that she was putting a plan into action for (potential) future wedding costs way back when we were in our freshman year of high school. More importantly, she shared these plans with my sister and I many times ..read more

Believe it or not, Michael and I started the wedding cost conversation with our daughters way back when they were in high school. I’d been at a local small business gathering and listened to a friend talk about the cost and the conversation he had recently with his daughter about her upcoming wedding. He explained that he’d given her a check with a set amount and said she was free to do what she wanted with it. But that the check was his full contribution to her wedding costs. With this method, he would not be in the position of managing the budget or have to be the one to say “no” to things t ..read more

Allison, my daughter and co-author of O.M.G. Official Money Guide for College Students, is head of North American marketing for a large technology firm. We look to Allison for understanding of the younger generation. Recently, a friend of mine with college-age kids asked Allison for her advice about the value of internships. Her wise words follow. Why you don’t need an internship to get your dream job I was recently asked by a friend of my mom’s if I had any suggestions for what their college-age daughter could do for a summer internship. Her daughter was going to school for a marketing degree ..read more

Often money is seen as the “be-all, end-all” solution to our problems. But here’s the thing – you need to speak the language of money basics to have the freedom to make choices. And money well-managed is at your service and ready to be at least some of the solution to the challenges and opportunities life throws your way. So how do you learn to speak the language of money? Save a portion of every paycheck Save a portion of every dollar you earn or are gifted. It’s a habit that should be taught often and early to our children. Saving and investing wisely forces you to make choices, take advanta ..read more