At the early age of 8 months

[Miow-wowow]

I have been pondering for a while now how young is too young for bringing up a financially intelligent daughter. She is only 8 months now. I have read this excellent post re renovating with small children on site (http://www.somersoft.com/forums/showthread.php?t=9679&referrerid=4622).

It is a bit tricky to do this at the mo because for example, not long after I start painting I need to attend to her which is a bit tricky when you are 6m up a ladder, have paint everywhere and need to wash your hands, oil based paint etc etc

What I am wondering is what else can I do. I take her out with her daddy sometimes when he is working, I am mindful of grandma's constant TV soap opera watching and talk to her a lot about what I am doing and why. We have cashflow for kids but she is a bit young for this yet I think. What have those with babies done to start them on a financially independent and free thinking path? or should I just relax and wait til she is a bit older?

 

[Macca]

Being an old fashioned bloke, I think you should let her "just be a kid" for a lot longer yet.

She will be an adult, with all its responsibilities, for a long time, just enjoy her company, give her a big hug as often as possible and love her to bits,but please, let her have a childhood free from pressure to perform.

 

[Miow-wowow]

I know what you are saying and I'm not wanting to put pressure on her etc just wanting to expose her to different ways of thinking that I wasn't exposed to as a kid.

 

[Aceyducey]

Miow,

Remember that the most important thing you can provide is a secure environment and the support to choose her own challenges.

And let her be a kid!!!!!

Cheers,

Aceyducey

 

[Steve KKK]

We have a 11 month old and a 3 1/2 year old (going on 25 with some of the things he comes up with!).

At this age the main thing we try to teach the eldest is that he can achieve anything he sets his mind to. We discourage the word "can't" and encourage him to attept something before we intervene (if he ends up having difficulties).

As for the youngest, we just enjoy her as she is at this age because we know she won't stay that small and helpless for long.

 

[MichaelW]

Miow,

I'm with Aceyducey on this one. Chill and let her live a little. There will be plenty of time for financial education down the track. Maybe start introducing financial concepts when you start introducing pocket money. Until then just focus on the values and principles stuff, i.e. try and help her to become a principled person who respects others etc.

If you want to tease it in early though, Kiyosaki has a "comic book" portrayal of his RDPD book for kiddies. I spotted it in the local bookstore yesterday when perusing the investment shelves. He's also got one for teens too.

When they're young you don't want to focus on technique, its more important to get the mindset right. i.e. Pay yourself first, delayed gratification etc.

Cheers,
Michael.

 

[skater]

I've got to agree with the above posts. At the age of 8 months, what will she understand anyway. Let her be a kid & start out gently as she gets an understanding of money is all about. Give her pocket money & teach her how to use it wisely, but let her make the decisions. She will make mistakes, like we all do, but help her to learn, without criticisms, from the mistakes she makes & above all be a good role model. Young children learn from the example of the people around them.

 

[quiggles]

If you want to encourage her, anytime something needs doing, say out loud "I can do that!". And then do it, like the way you are renovating. You might even say, "That looks hard. But I can do it!"

With the way kids like to copy and model themselves on their parents, by you doing this you are leaving them to enjoy being kids but to grow up believing in themselves. Little tasks, baby steps and much praise are my secret recipe.

Resilience is more important than financial intelligence - it allows them to recover from reversals and learn from experience.

 

[stickysandwich]

Miow-wowow

Hope that's the right spellng. Use child care!

SS

 

[Programmer]

I totally agreed with Aceyducey's post on reno'ing with kiddies and my 6 and 2 y/o have reno'd their cubby (more than once), BUT 8 MONTHS! Let's get this straight, she's still a baby, not a kiddie. However, and it's a BIG however, I really do understand your plight. There were many, many times when as a father I felt very frustrated that I could get absolutely nothing done when they were younger. After the frustration I would then feel very BAD because here I was doing 'stuff' when I should have been elsewhere in a 'safe' environment (maybe the boring park, the boring bloody shops, the boring change table, the boring toy box, well you get my drift...)
My tips are these:

A child should be able to do at least two things before I'd let them near anything that has any potential of hurting them (accidents should be considered a given - risk minimisation is the key):

- be able to react to "No" and "Stop". I say 'react' 'cause it gives you time, it's mainly voice intination at this age.
- walk (not necessarily as competently as a 6 y/old, but reasonably competently)

I'm for starting allowing 'on-site inspections' by the kiddies at about 1.5, but there's always the ifs and buts with this.

If they're still a bubs and are out of harms way (and what that actually means is very dependent on the type of job - strong paint smells for example can carry a long way) then go for it and blab away at them. But remember that bubs needs touchy-feely mummy and daddy at 8 months. We could do nothing at this age with ours, they'd just freak, and it was probably justifiable. But we got their sleep times (well-away from us) down-pat and worked to that. As for Cashflow? She'll just wanna eat it. Some might 'grown' at this, but those soap operas with your Grandma might be just the ticket when you need to do something a bit 'tricky' (but I'm not saying leave her hours at a time). Whatever you do remember there is no perfect mum or dad.

 

[Aceyducey]

I totally agreed with Aceyducey's post on reno'ing with kiddies.

Whatever you do remember there is no perfect mum or dad.

BTW - my post is here: http://www.somersoft.com/forums/showthread.php?t=9679

And there are perfect parents, I've seen them on TV!

Cheers,

Aceyducey

 

[asy]

Wow, 8 months... Gee, I'd have been looking forward to the day they could USE The toilet, not OWN one.. ;D

Seriously though, there were two main points in your post, firstly, I agree with the above, let her be a kid!!! She'll absorb enough listening to you discuss property at the kitchen table with your partner, and seeing houses come and go etc for a few years. Your post sounded to me a little like the 'beauty pageant mum's', if you know what I mean... "IF she doesn't make it by 5yo, she's failed!!!". The best thing you can give her is a happy well grounded personality. The rest will come!

And the second point about renovating with an infant.. Hmm.. Must echo an above post... "CHILDCARE"! YOu can get your work done in half the time. I think it would be much better to put her into childcare for 4 hours, than have her spend 8 hours in a possibly breezy house with limited attention from you. (if that makes sense).

Typed in a hurry coz I"m on my way out the door, so I hope it made sense.

asy

 

[Simon]

I disagree. At this young age you should be training the child to work in a mine or perhaps as a chimney sweep.

Sorry ... seriously my eldest daughter is quite thrifty and has a growing understanding of money. I think this is partly from taking her shopping and letting her see why I chose different products. I was berated once by an older lady for letting my three year old choose all of our products in the trolley. She must have thought I was a useless father when in reality Brianna was merely pointing out all the products we usually bought when I asked her which brand to buy as a bit of a game! I still ask her if we need cat food to which she always replies that we don't have a cat - still gets a laugh from fellow shoppers.

She likes to look at clothes on ebay and at Op shops with her Grandma. Last weekend she bought a belt at the opshop for $1 saving about $10 she told me. And the best part was that because she had volunteered to pass some boxes up to the older lady staffing the place - they gave it to her for free. She is quite thoughtful and respectful like that and now she sees that what goes around comes around!

Without any training in it I think we are raising two pretty cool daughters.

And by the way - if you are one of the few that I haven't boasted to then I will tell you now.........

Brianna just won a 6 year academic scholarship to the local Grammar School! How is that for sniffing out a good deal on her own education!!!

Just spend time with the children and talk to them all the time about things...if you set the example they will follow. Quality time can be spent doing the grocery shopping together - it doesn't always need to be a trip to Dreamworld or the like.

The apple usually doesn't fall too far from the tree in my experience.

Cheers,

 

[tubs]

I tried to explain the finer points of depreciation schedules to our 9 month old last night while I was preparing our tax returns, but she kept throwing her blocks out of play pen whenever I got up to the important bits and got distracted.

What can I do?

 

[Simon]

I tried to explain the finer points of depreciation schedules to our 9 month old last night while I was preparing our tax returns, but she kept throwing her blocks out of play pen whenever I got up to the important bits and got distracted.

What can I do?

Some kids just don't want to learn. Sounds like ADD to me - see your Dr and get some of that kiddie speed!

 

[WillG]

Just spend time with the children and talk to them all the time about things...if you set the example they will follow. Quality time can be spent doing the grocery shopping together - it doesn't always need to be a trip to Dreamworld or the like.

Great words Simon. I have a 9 month old and she just loves us being around, playing & making silly noises. I will be happy if my daughter learns good social skills first. Learning about money & investment can come after.

Congratulations on your daughters scholarship. She sounds like a great kid.

Cheers

 

[see_change]

I tried to explain the finer points of depreciation schedules to our 9 month old last night while I was preparing our tax returns, but she kept throwing her blocks out of play pen whenever I got up to the important bits and got distracted.

What can I do?

You need to put her natural insticts to good use. Maybe try the garden first.

Find a patch of dirt that has too many rocks or stones in it, and get her to work through it , pick the stones out and throw them away . Of course you will need to stand clear so she doesn't hit you.

In about a year she can graduate to digging up roots with a mattock and in a couple of years she should be able to use a chain saw quite constructively .

See Change

 

[johnnyb]

We have "high maintenance" 1yr old twins, so we get very little time for renovating (or anythinig else for that matter). Until they can understand a bit more I hope to teach by example in the next few years as we have a major garden makeover planned in our PPOR. They can watch and play in the dirt (and hopefully lay a few well placed pavers )

In the meantime we have also opened some youth savings account (no fees) and will be putting a small amount in there each month. Hopefully we can teach them enough so they can buy some shares or some other investment down the track.

 

[asy]

in a couple of years she should be able to use a chain saw quite constructively .

Seech,

I didn't think Doctors were allowed to tout for business..

asy

 

[Programmer]

Find a patch of dirt that has too many rocks or stones in it, and get her to work through it , pick the stones out and throw them away .

We tried that, our 1 y/o just eats them. I guess that's one way to separate them though.