Helpful Tips

Reasons To Read A Bedtime Story Every Night

Posted on October 2, 2023 by Tim Connolly

Reading a bedtime story to kids every night offers numerous compelling reasons beyond the simple joy of sharing a story.

Here are several important reasons to make this delightful ritual a nightly tradition:

Quality Bonding Time: Bedtime stories provide an opportunity for parents and children to connect on a deep, emotional level. In our busy lives, it’s a precious time to slow down, focus solely on your child, and create cherished memories.

Enhanced Language Skills: Regular exposure to language through stories helps children develop their vocabulary, comprehension, and communication skills. It exposes them to a wide range of words and sentence structures they might not encounter in daily conversation.

Stimulating Imagination: Bedtime stories transport children to worlds of fantasy and imagination. This stimulates their creativity and encourages them to envision the impossible, fostering a lifelong love for creativity and innovation.

Cultivation of a Reading Habit: When you read to your child every night, you instill a love for books and reading. They come to associate reading with comfort and pleasure, setting the stage for a lifelong reading habit.

Cognitive Development: Storytime engages a child’s cognitive abilities by encouraging them to think, reason, and make connections. It helps develop critical thinking skills, memory, and problem-solving abilities.

Emotional Intelligence: Many bedtime stories contain valuable life lessons and explore emotional themes. They provide a safe space for discussing feelings, empathy, and moral dilemmas, promoting emotional intelligence.

Routine and Comfort: A consistent bedtime routine, which often includes reading, can be immensely comforting for children. It signals the end of the day, making it easier for them to transition into a peaceful night’s sleep.

Improved Sleep: The soothing effect of bedtime stories can improve sleep quality for children. It helps them relax, reducing nighttime restlessness.

Exposure to Diversity: Bedtime stories often introduce children to diverse cultures, perspectives, and experiences. This promotes tolerance and understanding of different people and lifestyles.

Building Resilience: Many stories feature characters who face challenges and obstacles. Children learn about resilience and perseverance by observing how characters overcome difficulties, inspiring them to do the same in their lives.

Bond with Literature: Reading aloud exposes children to different genres and types of literature, broadening their literary horizons. It encourages a lifelong appreciation for reading and literature.

Customized Learning: You can tailor your choice of bedtime stories to your child’s interests and developmental stage. This personalization ensures that your child remains engaged and eager to learn.

Nurturing a Love for Storytelling: Children who are read too frequently often develop a love for storytelling. They may start creating their own stories, enhancing their creativity and communication skills.

Sense of Security: Knowing that they will have a bedtime story every night provides a sense of security for children. It establishes a comforting and predictable routine in their lives.

Parenting Legacy: Sharing bedtime stories is a tradition that can be passed down through generations. When you read to your child, you are participating in a legacy of love for literature and family bonding.

Academic Success: Research has shown that children who are read to at an early age tend to perform better in school. They have stronger literacy skills, better comprehension, and an improved ability to learn.

In conclusion, reading a bedtime story every night is more than just a bedtime routine; it’s a gift you give to your child. It nurtures their cognitive, emotional, and social development while creating lasting memories and fostering a lifelong love for reading. So, pick up that book, snuggle in, and embark on a nightly adventure through the pages of a story—it’s a small effort with an enormous impact on your child’s life.

financial education, Financial freedom, Helpful Tips

Tips to Teach your Kids about Money

Posted on April 24, 2022 by Tim Connolly

I recently did an interview about tips to use when teaching kids about money. In thinking through some techniques, I was able to lock on some specific things we did which helped to better instill good money management habits in our kids. Here they are:

1. When our daughter was in her tweens, we started working with her about purchasing decisions and saving up for things she wanted. Here’s what we did: We increased the amount of her allowance, gave it to her quarterly, but then had her use her budget to buy all of her own clothes and other personal items

– We kept track of inflows and outflows on an excel spreadsheet

– If she wanted something we would ask her if that was where she wanted to spend her budget. If she said yes then she made the purchase but then she had to wait until she had enough money in her account to buy other things

– Right after we put this into effect, she and my wife were in Nordstrom and our daughter saw a pair of flip-flops she wanted. She asked my wife if she could get them. My wife responded, “Is that where you want to spend your money?” She ended up buying flip-flops at Target.

2. Both our kids got checking accounts before age 16 and credit cards at age 18. The rationale for doing is that we wanted to make sure they learned about the concept of interest and making payments versus paying their bill in full every month. We wanted them to learn good habits while at home as opposed to learning bad habits while at college.

While discussing with our daughter, she asked the question, “You mean if I don’t pay it off in full every month then I’m paying interest to the bank and getting nothing in return?” After I told her that was exactly the case she vowed that she would always monitor her spending so she could pay her bill in full every month. Both our kids are experienced with credit cards and neither has paid a dime in interest charges because they couldn’t pay their bill in full every month.

3. Our eldest is out of college and youngest is still in college. When our eldest got her first job as a nurse we had a deliberate discussion about her saving for retirement.

She contributes the maximum amount to her 401k, has saved up enough for six-months of living expenses, and lives off the rest. She drives a ten-year-old car because it’s “good enough”. She still indulges in the nice purse or a weekend away, but does so within her means.

4. Most of the discussion has been about our daughter, but we did the same things with our son. He and his big sister are better disciplined money managers than many adults I know. Oh and our son is also mainstream autistic and still is able to manage his finances like a hawk.

Helpful Tips, teaching kids about money

Helpful Tips for Teaching Kids About Money

Posted on February 22, 2022 by Tim Connolly

For kids who see food show up in the refrigerator and gifts magically appear under the Christmas tree, it’s easy to think that money grows on trees. Children don’t always know that everything has a price tag. But being money savvy is an incredibly important life skill, so it’s essential to start teaching kids about being responsible with money early on – the sooner, the better.

While the basics – like identifying money and giving change – are taught in school, it’s often left up to parents to teach kids about money behaviour and values – like saving, spending wisely, and giving to charity. Here are some tips for teaching kids money management and smart spending.

1. Give them some

The best way for kids to learn how to handle money and spend wisely is to give them practice! A time-tested way to do this is by giving them a weekly allowance. When should kids start getting an allowance? When they start to ask for things, suggests Karen Skinulis, parent coach at Parent Talk, so they will have some money to buy the things they ask for.

Make sure you set clear expectations before giving your child an allowance, adds Skinulis. She suggests parents sit down with kids and think about what the child needs the money for and what amount they need so they can actually buy these things. Start out with a small amount for young children, to be used for treats or small toys. As kids get older, think about whether things like electronics, lunch, or clothes should be included, and if a portion of the allowance should be put away for saving or donated to charity.

An allowance is a great tool for both kids and parents. Instead of the child asking Mom or Dad for something, says Skinulis, “the question could then be, do you have enough money saved up to buy that? And if the child does, would you want to spend your allowance to buy it?” This gives kids the opportunity to make their own spending decisions, and parents are able to put a limit on their kids’ spending without being nagged or having to say no.

2. Let them make mistakes

Once kids have some cash, don’t restrict them. Instead, let them make mistakes – and they probably will. “They might spend it too quickly or run out of money,” says Skinulis, “and those are great learning lessons.” They’ll think, “When I spend and it’s gone, I don’t have it for something else. And that’s really the life lessons that we want them to learn: it’s not unlimited,” says Skinulis.

So let them spend their money on candy bars at first. They’ll soon see that if they want that video game, they’re going to have to save up. This will help them learn to delay gratification by saving – an important step in getting kids to really think about their purchases.

3.Take them shopping

Doone Estey, principal at Parenting Network Inc., suggests parents start talking to kids about money in the grocery store, “where kids think you can take whatever you want off the shelves.” Get them involved by having them hold the shopping list or coupons. Teach them how to comparison-shop and find the best value. Ask them for their input on how the grocery budget should be spent.

While grocery shopping is an important activity for kids to understand, be careful when taking kids to the mall. Try to avoid encouraging kids to shop as a ‘just-for-fun’ leisure activity.

4. Model good money behaviour

Skinulis warns parents against buying their kids something every time they’re in a store. “You go into a store with the idea we need something, and just because a child sees something they like, doesn’t mean you buy it for them,” advises Skinulis. Make it clear what you’re going to a store to buy beforehand, and remind them why you’re there.

“I wouldn’t do a lot of impulse shopping in front of them,” adds Skinulis, “because I think it models the idea that I get whatever I see.” Instead, try to show your kids how you make decisions when it comes to money and buying – and this means thinking and researching your purchases before you make them.

5. Help them make a wish list

Once your child has some money, their eyes might be bigger than their piggy bank. Sit down with your child and making a wish list. Then rank the items, encouraging them to research how much each item costs, where they can get it, and how long it will take them to save up for it. This is a great way to help kids learn to make priorities and get them into the habit of planning before they buy something.

Having trouble getting kids to think before they buy without nagging them? Check out Gifting Sense, a free online/mobile survey that asks kids questions to help them learn what to consider before making a purchase – like price including taxes and shipping, and how often the purchase will be used.

6. Ask them to chip in

“Sometimes parents are way too quick to buy things for their kids and not ask the kids to help pay for it out of their allowance,” says Estey. When kids haven’t helped pay for something, they might not appreciate it. And this could lead to a cycle where kids constantly ask for new things that they don’t necessarily take care of.

If an older kid with a clothing allowance needs a new pair of sneakers, Estey gives as an example, a parent might say, “’I’m willing to buy you the $75 sneakers, but I’m not willing to buy you the $100 sneakers, so you need to fill in the difference if you really want these cool [brand-name] sneakers.” This type of exercise teaches kids about the difference between needs and wants, and helps them think about how they want to spend their money.

7. Bring them to the bank

To a child who just sees you taking money out from the ATM, it may seem like the bank just gives out money, says Estey. In order to teach a child about how the banks works, take them to one and open up a bank account for them – most banks have children’s accounts with no fees and no minimum balance. This is an excellent opportunity to talk to them about saving and interest.

Next time they get a cheque for their birthday from Grandma, have them deposit it in their account, says Skinulis. This teaches them how to keep their money safe, not to spend it as soon as they get it, and how to make it grow.

8. Talk about it

One of the most important things to remember when teaching kids about money is to talk about it – frequently and casually. Let kids know that finances are important but also accessible and not scary.

Estey suggests being as honest as possible when kids have questions about money. You don’t have to go into complete family finances, but you might want to talk about bills, investments, credit cards, or even your retirement fund. If they’re old enough, you could even discuss current events relating to the economy around the dinner table.