Archive for the ‘Uncategorized’ Category

“If you wish to achieve worthwhile things in your personal and career life, you must become a worthwhile person in your own self-development.” –Brian Tracy

Today we are discussing the 3^rd Jar in the series which is the Education Jar. When I speak of education, I’m talking going beyond the traditional school and college system. Your child spends most of his or her childhood and young adulthood in the formal education system. That’s where he or she learns the basics. But what happens after college? Your child is taught to go get a “safe and secure” job. And typically the education stops.

Financial Success Secret

A wise man by the name of Steve Sipress once said, “A lifetime learner is a lifetime earner.” That implies that to be successful, you must continually educate yourself. We all know that education is an investment. You gladly pay for tuition, school fees, books, and supplies. Your kids will acquire technical skills and knowledge that will pay off in the long run in the form of a paying job or maybe even their own business. However, to enjoy continuous success and be a top performer, you must continue to invest in yourself via education.

What Does This Look Like?

Continuous education shows up in the form of seminars, trainings, conferences and retreats. They may be covering technical topics such as technology, sales and marketing. The sole purpose of the seminar may be to enhance your personal development also known as self-improvement.

When you teach your kids to use the education jar, you show them that not only is it okay, but they MUST Always Always Always invest in themselves. Because you are success-driven, you do things that may seem abnormal to the majority of people. When you tell a friend or family member about a conference they call you a “Seminar Junkie.” Or they say, “You’re going to ANOTHER conference?” This is a perfect example of the attitude or mentality that you DO NOT want to model for your children.

Continue to Learn & Grow

So you tell your kids, save 10% of everything you earn. Put that money in your Education Jar. This is for you to continuously invest in yourself and your education. Nothing is more important. If there’s a class you want to take or a new skill you want to learn, you use the funds allocated in this jar. ESPECIALLY in the field of money and financial success, your kids will constantly need to learn and grow. Coaches, live trainings, and home study systems are all part of the package. Sending your child to money camp is the perfect way to train them early for education beyond the classroom.

Right now your kids may want to take enrichment courses in music, language or art. They may want to go to dance class or get advanced training in a hobby like martial arts, hockey or gymnastics. Have them to contribute towards it with the money from the Education Jar.

Thank You for Reading Part III of the Money Jar Series. Stayed Tuned for Part IV.

Please join the conversation and let me know your thoughts below. Feel free to comment, share, and ask questions.

To You and Your Kids’ Wealth,

Melanie Jane

Related Articles:

Money Jars: The Kid-Proof System for Saving and Spending Money: Part I

Money Jars: The Kid-Proof System for Saving and Spending Money: Part II

Money Jars: The Kid-Proof System for Saving and Spending Money: Part IV

Money Jars: The Kid-Proof System for Saving and Spending Money: Part V

Money Jars: The Kid-Proof System for Saving and Spending Money: Part VI

Welcome to Part I of the Money Jar Series. Over the course of this 6-part Series, I’m going to explain the core principles I teach my very own kids about money management. Use of the Money Jars is the basic foundation your kids need to be money smart and achieve financial success.

I absolutely LOVE the Money Jars. The system is simple, easy, and fun! There are 6 jobs of money, therefore 6 jars. Today we’ll start with the first jar—The Living Jar.

If you haven’t already guessed it, the Living Jar is for Living Expenses. Now you may be saying; my kids don’t have enough money to pay for their living expenses. What am I supposed to do? Start charging them for their share of the utilities, food, and rent?

Well, if your kids are under the age of 18, that may be a little harsh and maybe borderline illegal :).  So don’t go off writing up a lease and tagging the food in the refrigerator just yet. However, this IS a good time to sit down with your kids and have a talk about wants versus needs.

Let’s be honest. Many of the things our kids want aren’t necessarily what they need. So instead of constantly swiping the bank card for little trinkets, gadgets, and treats here and there, let your child take some responsibility of purchasing some of these things himself.

Make A List

To start using the Living Jar, have your children make a list of all things they like to buy, but can live without. Some examples are:

• Candy
• Movie Rentals
• Video Games
• Hair Accessories

Make An Agreement

Once they’ve completed the list, make an agreement with your kids that from now on, items on that list come out of The Living Jar Money.

As a general rule of thumb, 55% of all your kids’ money should be allocated to the Living Jar. So everytime your child receives an allowance, gifts, a paycheck, or revenue from his or her own business, 55% of the money automatically goes towards living expenses.

I love this exercise because it teaches kids how to be more responsible with their money. Trust me, once you implement the Living Jar and attach it to the list of expenses, your kids will think twice about every purchase they make. They will seriously consider whether or not they want or need it, and ultimately, if they should buy it.

I hope you’ve enjoyed Part I of the Money Jar Series. I look forward to sharing Part II with you soon. Please join the conversation and let me know your thoughts below. Feel free to comment, share, and ask questions.

To You and Your Kids’ Wealth,

Melanie Jane

Related Articles:

Money Jars: The Kid-Proof System for Saving and Spending Money: Part II

Money Jars: The Kid-Proof System for Saving and Spending Money: Part III

Money Jars: The Kid-Proof System for Saving and Spending Money: Part IV

Money Jars: The Kid-Proof System for Saving and Spending Money: Part V

Money Jars: The Kid-Proof System for Saving and Spending Money: Part VI

What usually happens when you give your child money? If you’re like a majority of parents, your answer is something like:

• They Spend All of It and Don’t Save a Dime

OR

• It’s Gone So Fast

I know it seems like they always have their hand out asking for the latest toys and gadgets. Wiis, iPods, iPads, and Kindles just to name a few.

Yes you want to give your child and everything they’ll ever want. Yet you also don’t want them to be selfish, spoiled brats. So where do you draw the line?

Well I have a system that I use to teach my own kids how to manage their money. Whatever their want or need, if they follow this system, (which I call kid-proof), they’ll ALWAYS have enough money to get the things that they desire.

Where Do You Begin?

First you start out by telling your children that there are 6 jobs of money. OR that money has 6 different functions to perform. So that means there are 6 different categories by which they will allocate their money.

Where Did This Come From?

I learned these money management principles at a seminar called Millionaire Mind Intensive by T. Harv Eker’s Peak Potentials. (Shout out to Harv if you ever read this!:)) Anyways, it was so easy and simple—I immediately fell in love with the concepts and have been teaching it to my kids ever since.

Ok Let’s Begin Shall We?………………….

Just Kidding……..

If I talked about all 6 jobs of money right now you’d probably

a)    Click off This Page

b)     Attempt to Read with Eyes Glazed Over

c)     Actually Read It & Not Retain A Word I Say

So I did you a favor and turned this topic into a 6-part blog series that I’ll be sending you in the next few weeks titled “Money Jars: The Kid-Proof System for Spending and Saving Money”

Stay tuned for Part I of the Series.

To You and Your Kids Wealth,

Melanie Jane

Labor Day, according to Wikipedia, is an American federal holiday observed on the first Monday in September that celebrates the economic and social contributions of workers. I remember in my nursing days when I looked forward to Labor Day because of a well-deserved day off. However, it didn’t take me long to realize that I can create my own days off as an entrepreneur. With continuous education and discipline in my work habits, I learned that I can create my own economy.

After “retiring” from my nursing career over 6 years ago, I’ve recently met with some of my previous co-workers who are now laid off or in fear of being laid off from their nursing jobs. Who would’ve thought that a shortage of nurses back then would lead to an abundance of nurses being laid off? My mom, in particular, was one of them. After working for a company for over 30 years, this hospital decided to give my mom’s position away 3 months before she was to retire. With continuous calls to the President of the hospital, the hospital gave her a leave of absence that allowed her to reach full retirement. At the end of her service, she received a nice pen:)

My mom was fortunate that she had people in her family that was in the medical field to insure her full retirement. She is now in the Philippines enjoying her life. It’s amazing to me that she had in her mind that she had to wait until she was 66 years old to enjoy life. This is a common practice for many. With the job loss of so many, I want to stress the importance of creating your own economy.

Having said this, here are 3 Steps to Creating Your Own Economy:

1. Change Your Focus:  Beginning immediately, stop talking about anything that is not working. Stop defending and justifying why you’re not doing better. Stop blaming the economy or whatever else you deem to be the cause of your troubles. If something is not working, continuing to talk about it will cause you to start seeing more things going wrong and continue the downward spiral.?Ask only, “What’s working?” What you focus on, grows. And that’s why it’s important to be mindful of what you are focusing on.
2. Mine the Gold That’s Already in Your Business:  Every business has “hidden” opportunities which can be mined, usually by either developing new markets for your products, creating new products, leveraging the relationships you’ve built, and joint venturing with colleagues, suppliers, customers and, yes, even competitors. Don’t get the “shiny object syndrome” in which you want to do so many new things and finish none.
3. Develop Systems and Follow Through:  The best way to do this is to hire a business coach or appoint someone in your organization to be your team’s “accountability partner” to ensure your renewed vision is being carried out and that you are steadily moving in the right direction. Many business owners think that they’ll hire a coach when they make more money. It is actually the opposite. You hire a business coach to make more money.

As always, the sooner you instill and model an entrepreneurial mindset utilizing these steps, the sooner you can create your own Labor Day. Avoid the practice of living and enjoying life when you “retire”.  I hope you enjoyed your Labor Day weekend!

Thank you to all the schools (see below) who  participated in Kids Wealth International Club’s 1^st Annual Halloween Candy Buy Back.  We raised 968 pounds of candy for our dedicated troops.  The Halloween candy will be shipped to Operation Gratitude which then ships care packages, each with an individual soldiers name on it, overseas to our courageous troops serving our country worldwide. Those troops are risking their lives every day. If a little piece of candy can provide a moment of happiness, why not? Halloween candy represents a warm memory of life “back home” and children that care enough to donate candy in support of our troops.

The troops love the candy–for themselves, but also to give out to the children in the communities they patrol. Many Service Members have told us that the children gave them information on wherebombs and bad guys were hidden after receiving our candy. They said: “You are not just putting smiles on our faces; you are saving our lives.”

Peterson Elementary – 294 lbs.
4008 Chinaberry Lane, Naperville, IL 60564 – (630) 428-5678

Oak View Elementary – 209 lbs.
150 N. Schmidt, Bolingbrook, Illinois, (630) 759-9300

Chesterbrook Academy – 125 lbs.
2960 Rollingridge Road, Naperville, IL 60564 – (630) 416-1516

Word of Life Lutheran Preschool – 84 lbs.
879 Tudor Drive, Naperville, IL 60563 – (630) 355-7648

Naperville Montessori School – 65 lbs.
2936 Artesian Road, Naperville, IL 60564 – (630) 904-5399

Compass School of Naperville – 57 lbs.
1128 Compass Ct., Naperville, IL 60540 – (630) 983-9190

Panera Bread – 49 lbs.
2775 Show Place Dr, Ste 123, Naperville, IL 60564 – (630) 428-2121

Kids Kampus – 48 lbs.
603 E Diehl Rd # 143, Naperville, IL 60563 – (630) 577-0046

Happy Times Pre School – 29 lbs.
420 W Gartner Rd #1, Naperville, IL 60540 – (630) 355-8282

Zion Lutheran Church & Early Childhood Learning Center – 8 lbs.
11007 S Book Road – Naperville, IL 60564 – (630) 904-1124