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Articles from Thomas Henske | Selfgrowth.com
- Westport News: How young is too young to teach kids about money? - by Submitted on Mar 21, 2012 from Thomas HenskeI'm lucky to have many readers who pass along articles they come across on financial literacy. I finally had some time to catch up on my reading and came across two very different articles that sparked my interest on the topic of what age we should start teaching our kids about money. They were ...
Views: 1078 - Westport News: Are we almost there yet? - by Submitted on Feb 02, 2012 from Thomas HenskeIt's hard to believe it's February and my wife just reminded me that the kids' winter break starts Feb. 18. Tonight at dinner, we discussed going skiing for a few days as a family. I must admit it became difficult to enjoy dinner when I mentally started tallying up all the expenses that goes ...
Views: 996 - Westport News: Nice try, Mr. Farrell - by Submitted on Dec 29, 2011 from Thomas HenskeYes, I said a few months ago that I don't like to use my article to vent ... but here I go again. I've just read one of the more myopic, small-minded, and frankly, ignorant articles on MarketWatch titled "Financial Literacy Is a Big, Fat, Wall Street Hoax" by MarketWatch writer Paul Farrell. ...
Views: 1123 - Westport News: Mortgage 101 for kids - by Submitted on Dec 01, 2011 from Thomas HenskeIn February 2000, I endeavored on buying my first home. I can remember the scary concept of taking out my first mortgage. The whole idea of owing someone money put a pit in my stomach. So owing someone money for 30 years was just mind-blowing for me. And so after I found what I was looking ...
Views: 1107 - Westport news: Don't let great get in the way of good - by Submitted on Nov 11, 2011 from Thomas HenskeFor those of you who know me personally, this seemingly settling for mediocrity in the title might have caught you by surprise. And while I am a huge fan of striving for greatness in everything one sets out to do, the reality is that often times such an attitude can get in the way of making ...
Views: 1354 - Westport News: The Importance of Human Capital - by Submitted on Oct 28, 2011 from Thomas HenskeYears ago, I learned from Jay Hughes' book "Family Wealth" the importance of having assets beyond financial capital. What Hughes called "human capital" I refer to this as the "Who You Know Assets" which often find themselves even more valuable than the assets you have in your bank account. This ...
Views: 1150 - Westport News: Raising Money for Others - by Submitted on Sep 29, 2011 from Thomas HenskeA common thing we all do on the weekends is to try and get our families together. Typically, this is squeezed in between sporting events and either happens at a kid-friendly restaurant here in town or sometimes at each other's home. You know that gig. The hosting family stresses out ...
Views: 1282 - Westport News: A Hurricane Helps - by Submitted on Sep 11, 2011 from Thomas HenskeI've always said that some of the best financial lessons occur right within your own household. And I'm sure the power outage left everyone in their home trying to stop the minutes from seeming like hours. As our kids were starting to be at their wits' end, being captive in the house Sunday ...
Views: 1071 - Westport News: Let's Talk About Sex - by Submitted on Jul 22, 2011 from Thomas HenskeOf course I knew that headline would get your attention. In full disclosure, I'm a bit heated today and will use this week's article to vent. A reader recently forwarded me a poll conducted by The Angus Reid Strategies Group which surveyed 624 Canadian parents and revealed that "overall, ...
Views: 1104(2 votes) - Westport News: How About Financial literacy Camp? - by Submitted on Jul 22, 2011 from Thomas HenskeLast week many of our Westport parents were abuzz about getting their kids ready for, and to, summer camp. Some of the parents seemed giddy in excitement that they were getting a little vacation from the kids while others seemed lost in what they would do to fill the huge time gap. Don't laugh! ...
Views: 1155 - Westport News: Explaining Interest to Your Child - by Submitted on Jul 22, 2011 from Thomas HenskeHow does a parent explain the theory of interest to a young child? And what is the difference between earning interest and paying interest? I realize that even adults don't always grasp these concepts. While it is a struggle to think of simplistic ways to explain these concepts to your ...
Views: 1027 - Westport News: A Lesson on Budgeting - by Submitted on Jul 22, 2011 from Thomas HenskeYes! I finally broke the writer's block. One of the constructive criticisms I've gotten about this article is not spreading out the knowledge-wealth across more age groups. Specifically, a few of you have commented on my lack of financial literacy ideas for pre-school children. It has been ...
Views: 1028 - Westport News: Just Do It - by Submitted on Jul 22, 2011 from Thomas HenskeI was inspired by Dan Woog's article last week on keeping learning "relevant" for our kids. One thing that's fun and educational for our children to learn about is the companies they are exposed to on a daily basis in their own lives. I just returned from my son's baseball game and noticed a ...
Views: 1284 - Westport News: Sowing Seeds of Philanthropy - by Submitted on Jul 22, 2011 from Thomas HenskeWhile April usually means showers to you, it's a good time for those in financial literacy -- it's Financial Literacy Month. And an important component of teaching our kids financial literacy is introducing them to philanthropy. A reader came to me a few weeks ago and asked about the ...
Views: 1295 - Westport News: In a test of financial ABC's, we get a C - by Submitted on Jul 22, 2011 from Thomas HenskeThe results are in from a nationwide survey that measured what Americans know about rudimentary finance. And for a state that is among the nation's most educated and most wealthy, Connecticut doesn't have much to brag about. At the end of last year, findings of the nation's first ...
Views: 1167 - Westport News: Try a 'purpose vacation' to teach altruism - by Submitted on Jul 22, 2011 from Thomas HenskeComing off our fun-filled winter break, I thought it might be time to plant the seeds of taking a "purpose vacation" for your family's next vacation break. I would imagine the last time I endeavored upon this subject you might have left asking yourself, "Do I really want to subject my family ...
Views: 1225 - Westport News: Parents reveal their hands, thoughts on teaching kids poker - by Submitted on Jul 22, 2011 from Thomas HenskePoker is now the third most popular sport watched on television behind auto racing and the NFL. Go figure! You'll recall I wrote an article a few weeks ago on the debate of whether or not poker is a game that we should be teaching to young children as a tool for practicing statistics, ...
Views: 1159 - Westport News: Vote With Your Dollars - by Submitted on Jul 22, 2011 from Thomas HenskeI hope this personal story will inspire you to teach your children the value of good, personal service and the financial choices that go along with it. One evening at home I realized I needed to scan a document and e-mail it to one of my clients. Of course, I was having a problem with my ...
Views: 1119 - Westport News: Kid and Poker- Two Sides of the Coin - by Submitted on Jul 22, 2011 from Thomas HenskeTwo of you are having a "respectful disagreement" (this is polite writer's speak for "argument") on a topic that we are going to let the Town of Westport be the judge and jury on. This decision will be binding on both parties. Is everyone ready? How do you feel about this one? A father has a ...
Views: 1130 - Westport News: Playing the budgeting game - by Submitted on Jul 22, 2011 from Thomas HenskeWow. Our readers have some good ideas and are making my life easy. Their thoughts keep pouring in and at this pace it's highly unlikely I'll ever experience writers block. I appreciate the great concepts to share with everyone who make it a habit to glance at what I'll now call `our' article ...
Views: 1081 - Westport News: Charitable Giving in Kids' Hands - by Submitted on Jul 22, 2011 from Thomas HenskeOver the years, some of the best ideas I've learned on teaching children about money have come from you -- the parents. I always love to hear some of the thoughtful strategies you're using within your own households. They are always creative and battled tested on the front lines, in the trenches ...
Views: 1125 - Discussing The Financial Crisis With Your Children - by Submitted on Oct 20, 2008 from Thomas HenskeThe second most common question I’ve been getting over the last few weeks (after “When will the market hit bottom?”) is “How should we be talking to our children about this financial crisis?” While the natural feeling is to clam up and pretend your lives are business as usual, that strategy ...
Views: 963 - Top 10 Allowance Tips - by Submitted on Jun 06, 2008 from Thomas HenskeMoney-Smart Kids™ Program An allowance is NOT an entitlement or a salary. It is a tool for teaching children how to manage money and budgeting. As with all financial literacy topics, the most important resource parents can give is their time. Here are my top 10 tips for starting an allowance ...
Views: 1160 - Money-Smart Kids - Budgeting Tips - by Submitted on Jun 06, 2008 from Thomas HenskeHelping your children understand how to live on a budget at a young age can teach them valuable lessons for later on in life. You’d rather see your kids make small mistakes now than end up continuing to ask you for help to pay for things later on in their life. Here are a few suggestions for ...
Views: 924 - Money-Smart Kids - Tips For Developing A Concept of Wants Vs. Needs - by Submitted on Jun 04, 2008 from Thomas HenskeOur children seem to think that they should have everything that we (as parents) have, ignoring the fact that many our possessions have been accumulated over years. A need is something you have to have, something you cannot do without. Needs are things that we truly cannot be without. Examples ...
Views: 1259 - Money-Smart Kids: Wants vs. Needs - by Submitted on Apr 02, 2008 from Thomas Henske“Daddy, Daddy, Daddy. I need to have the Millennium Falcon Star Wars Space Ship. Please, please, please. I really need it.” Taken literally, someone new to the planet would understand my son’s “need” as potentially life threatening if he were to go another hour without this space ship. As ...
Views: 4744 - Money-Smart Kids: Greed - by Submitted on Mar 27, 2008 from Thomas HenskeChocolate hearts and Valentine messages soften the gray and cold of deep winter–opening up the heart in this icy season. This year, use winter’s little crack for the unexpected: Tackle greed. Greed reveals itself in a child’s reluctance to share, and adults’ willingness to risk all in the ...
Views: 1105 - Money-Smart Kids: Drip, Drip, Drip - by Submitted on Mar 27, 2008 from Thomas HenskeWhenever I talk with clients, prospects or friends about the Money-Smart Kids Program, I share our “drip, drip, drip” strategy for raising financially fit kids. “Remember, you are water; they are rock,” I say. “Do a little something often. Keep the subject of the financial apprenticeship front ...
Views: 1045 - Money-Smart Kids: Allowance - by Submitted on Mar 27, 2008 from Thomas HenskeWe live in a world where parents may give their children a weekly allowance of $20 and before they know it they’ve spent another $50 on their children’s Webkinz toys and other various forms of entertainment. While the $20 might be the right amount for their child, the extra hand-outs aren’t ...
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