How does it work?

My Kids' Money is a book that guides the parent through the conversation and processes necessary to equip their children with a solid foundation in basic money management concepts. The book, worksheets and other tools provide the framework, the parents provide the values and time.

Saturday, January 30, 2010

What would you do with $1,000,000?

That was the question Sensei posed to the 8 to 12 year olds in class at the dojo last week.  The answers were fun! 

  • Buy one of every type of game console
  • Buy every Wii game
  • Buy a space ship and go visit all the planets (keep an eye on this kid, she's dreaming big!)
  • Invest it
  • Give some to the people of Haiti
  • Donate some to Haiti, and the rest to my Dad's charity (my daughter, of course!)
  • The list goes on and on!
As with all of the things I share on this blog, I had a couple of learning points from this discussion:
  • I am more convinced than ever that we are failing to teach our kids the fundamentals of money management
  • The idea of personal responsibility needs to be a larger aspect of my project (There is no way I want my daughter to give away $1mil unless she has all of her own financial needs met!)
  • There is a huge appetite for my book!
One of the things about Sensei is that he likes to put people on the spot.  I have shared my book and charitable project with him and he decided that it was time for me to do a little pre-selling after the session with the kids.  Based on a simple 60 second snippet about the book and the idea of donating the proceeds to charities on our community, three parents went out of their way to introduce themselves, and ask when they could buy the book!

So when is it going to be available?  After consulting with some folks who know way more than I do about the publishing world, probably about a year.  Now that I have seen all the steps outlined, it is a bit intimidating, and I see the value in bringing in outside help.  The hard work is truly just beginning.

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