teach him the joys of donating.


I like to "adopt" a wolf each year from Wolf Hollow. I've been adopting the same one for the past four years.

You guys could buy mitten and/or hats and donate them to a homeless shelter or something.

There are loads of possibilities

in another two years I want to have him volunteer with me at a Thanksgiving homeless meal type of thing,
and make that an annual event, and I want to be sure he comes into contact with people who will make
him understand these people aren't just irresponsible or mooches. In fact, his own uncle isn't; I have
a son severely inflicted with bipolar disorder.

He is so young that he won't be able to connect, really, with other children not having anything in the
abstract. But the piggy bank won't be quite full for a few months yet, and the way the brain grows
at this age is astounding.

http://www.moneycrashers.com/teaching-kids-save-money/

What interested me was they mention (and link to) information on high-yield savings accounts with no minimum amount:
"Ally’s savings account lacks opening deposit and minimum balance requirements, as well as monthly maintenance fees. Federal regulations allow for up to six outbound transfers per 30-day statement period. Currently, it yields 0.90%, although this figure may fluctuate on a daily, weekly, or monthly basis. You can make six free outbound transfers per month – Ally charges $10 apiece for any transfers that exceed this limit." http://www.moneycrashers.com/ally-bank-review/
"Capital One 360 has really been pushing its 360 Savings Account. It offers a variable APR, which at 0.75% is competitive with other online savings products. This no-fee account requires no minimum balance and it allows customers to open multiple online savings accounts at once, making it easier for folks who have discrete goals to manage separate financial stockpiles." http://www.moneycrashers.com/capital-one-360-review/

I'm glad you mention allowing the child to spend some of the money. When I was a kid, my parents convinced me to put my Christmas and birthday gift money into a savings account and told me I could save up for something big. I few years later I wanted to buy that "big" item - and they wouldn't let me take even a portion of my money out of the account. It pretty much spoiled me for saving for years - any gift money I got no longer went into savings and of course was spent quickly.

Savings bonds, while they don't pay much interest, still pay more than savings accounts - just look at the "high yield" rates listed above! With a four year you can help him buy savings bonds and let him watch their value grow - there is a site for that: http://www.treasurydirect.gov/BC/SBCPrice My grandmother and great aunt used to give us cash and an equal face value in savings bonds - I was astounded at how they grew over time and bought my first home (a mobile home) with them while I was in college. It let me live at a very low rent for the last part of my college life. It also taught me how to maintain my own house and how to learn about home repairs.

My husband learned about investing because his grandmother gave him one share of stock when he was in high school. Over the years the stock split, spun off new companies, and grew. For years he'd get a small check for dividends, then the companies set up DRIPs - Dividend ReInvestment Plans - and he's just let the value accumulate. In looking at the value, his total investment has increased well over tenfold without any fees or lifting a finger.
http://www.fool.com/school/drips.htm

You might use a combination of ways to teach your grandchild about savings and investing. Start out with a savings account, one of the no fee ones. If he has enough or when he accumulates enough, buy a savings bond. When the bond matures, help him cash it in and invest in stock. Along the way he can learn about interest, compounding interest, investing, socially conscious investing and how the world works.

My Dad did that with his grandkids - he'd send them articles on investing, how to save, etc. They hated it, and just would not read any of the information he tried to give them.

I think he would have done better if he had done as my husband's grandmother - given them some stock. Although my husband never turned into a stock market talent, he has a good understanding of how investing works. With me, knowing that I had the savings bonds accumulating taught the benefits of putting money somewhere, even if my parents sabotaged the saving accounts concept.

Frankly, I think the ownership of some sort of investment teaches a lot - it involved the kid more than anything else.

I do like the suggestion also made of donation - maybe combine that with an investment concept. Something like Kiva.org or Heifer International (heifer.org) lets people "invest" in other people. I like Kiva since you lend the money, get repaid and reinvest the money. It's investing, but more personal and targeted at people who really need the money.

http://www.kiva.org/

http://www.heifer.org/

The microloans thing is awesome and would be something that other Grandma would
find more acceptable, not that any of this would require her approval or knowledge.
This Grandma is very overbearing so likely won't know much of it at all. She was
trying to insist that my daughter paint their house in colors she chose, buy furniture
she selected, and hang art she selected and in the spots in the house she determined
it should be. She also, on a recent visit, asked my daughter and her son, who were
watching TV with her, "Do the two of you shave your genitals". LOL the woman has
no bounds.

But since I heard about them, I've drawn names for gifts for young relatives that need things.

The next time I draw a name for one of the adults that don't need anything, I'm giving microloans in their name!

Wow. Not sure what to say about that Grandma. I'm not sure how I would have responded if my MIL had ever been that, um, blatant. Having been brought up in the South, I might have said something to the effect of "Oh, darling, aren't you precious?!" and left the room.

For some reason her use of the word "genitals" makes it even funnier.

how close you are to a short-term savings goal. Great idea for such a young child.
What he wants to buy will change twelve times in the interim, but the idea itself
can stick. Wonderful.

That is really a great website. Thank you again

maybe have him do a 'buy one, give one' project, as long as the 'buy one' isn't too expensive. He can choose one toy to keep and an identical one to donate. That way he can relate to the recipient, in a way. I think that's important because it's not quite so anonymous.

with the concept of someone not having something. In his neighborhood, not one child, and there are many,
wants nor likely ever will want for anything The same with all of the children with whom he will go to school.
It's Northern Virginia, Loudon County

I have a bit of time to work on finding an age-appropriate means though to get the idea across.

I wonder if there are children's books that can explain to a small child what life is like for some people
without unduly upsetting the child?

Fortunately my grandson has limited contact with his father's mother, in one respect it is fortunate.
She lives on the West Coast. She is living high on the hog off of her late husband's business earnings.
When the two of them met my husband and I, we told them that my husband had taught inner city
poorest of the poor, mentally and emotionally challenged children in middle school (that's one heck
of a hard job, I tell you, and my husband was perfect for it). I was in college, hoping to teach the
same but with high school children (then after I graduated summa cum laude,Pennsylvania wiped
out 20,000 teaching jobs, and now I'm 59 no one will hire me now...). But at the time, I said I was
so excited to have the opportunity to do this. Mrs X looked at me, absolutely stunned, and the very
polite Mr. X just had a polite, blank stare on his face. Mrs. X says, Why on earth would you want to
do that? Why do you CARE? My turn to be stunned. No matter what we said, there was no concept
whatsoever in them as to why you should ever give a rat's behind about anyone but yourself. My son in law
doesn't seem to be like that, thank goodness, but he has the polite manners of a prince, an absolute prince,
and you know, that means you never really see the real person that way. Anyway, I'll be damned if my
grandchildren will be that way.

On edit: My first response (kept to myself) about her husband's successful career and eventually his own
business (in engineering) was wow, that's cool, that he was so successful. More recently, I found out that
he was able to finance his venture off of inheritances. The family is still working on liquidating assets
held overseas in Europe by people two generations beyond theirs.

Absolutely gorgeous illustrations and all of the books have progressive morals to the story. I forget specifics (which ones are which) but Uno's Garden, The Waterhole are a couple. Each book has a message -- sharing, the environment, etc. -- and if Mom or Dad read to him, he'll be fascinated and learn the concepts portrayed. Again, the pictures, on their own, are enticing. They're age-appropriate, too. Google him or go to Amazon for the descriptions. Good luck.

edit for typo.

I was looking for the American Librarian Association book list for children and found this one:

But ALA and the Association for Library Service to Children also have lists of books for children. I used to select books on different cultures for my nieces and nephews, especially those in the family with the Christian right wing father who insisted his children be home schooled. The ALA has reading lists for different world areas:


Their page with links to reading lists is here: http://www.ala.org/alsc/booklists
The ones I would go to are:
2014 Notable Children's Books - http://www.ala.org/alsc/awardsgrants/notalists/ncb
Caldecott Medal Home Page - http://www.ala.org/alsc/awardsgrants/bookmedia/caldecottmedal/caldecottmedal
Newbery Medal Home Page - http://www.ala.org/alsc/awardsgrants/bookmedia/newberymedal/newberymedal

When I give kids books, I push the age categories. The child might be 4 now, but can grow into a book for a 5 or 6 year old quicker and more reliably than they might grow into clothes.

how you move up, duh, something I've not seen teachers do around here.

And so, I had a college level reading capability in 7th-8th grade.

Actually I've received two of the packages but haven't had time to even open them yet. I doubt Mom and Dad will have
time to do this so I'm going to have them sent here, then bring them to him.

That list of books around the world sounds like a great companion. Thanks!

(granted this is coming from a socialist, and anticapitalist)

I'd suggest, using about 25% for something that he really wants.

Then, have him distribute the remaining 75% to people who really need it. Not just giving it to a charity, but actually meeting people who are down and out, establishing a brief connection and helping them. Otherwise, perhaps some charity like a local animal shelter, where he can actually see how he is helping too. Money itself is superficial; its what you do with it. Start a new generation of conscientious young 'uns now.

is the power of self-control, and waiting for tomorrow to get things, and choosing between things,
and most of all, taking care of your own future your self as much as possible. To save nothing
is reckless when it is possible to save (speaking as someone who was a single mom with a child
with a disability who could barely keep the lights on, not as someone who could save a nickel).

And yes, I do want him to make a personal connection somehow. That's what I'll be looking for.
At least a personal connection that those less fortunate are real people facing real issues without
a well to do Mom and Dad, as opposed to moochers. If he never saves, then he is mooching too
off his parents, if they let him.

Animal shelters are a worthwhile charity, but I want him to connect with PEOPLE. There are many
ultra wealthy who will give millions and even at death everything to animal shelters...and they
think people are unworthy, and that's what I want to avoid.

... cure cancer. Something of this nature.

-- Mal

Grandparents Against Sobriety.