Episode #2: Teen-Generated Income

How many times have you heard your teen say this: “It’s my money, not yours! I can spend it on whatever I want!” Parents attending my course confess they aren’t sure how to resolve the age-old conflict surrounding whose money is whose and whose preferences should prevail. In The Real-Life Money Game, teens pool their income with their parents to create a large enough resource to make discretionary choices.

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Click here to download the Income Worksheet.

Trailer: Play The Real-Life Money Game

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Episode #1: The Purpose of the Game

The object of The Real-Life Money Game is to let your son or daughter take personal responsibility for money your household already spends on his or her behalf. The only way to experience first-hand how money works is for your teen to have control over real money. They need to feel it at a gut level.

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Talk in Port Townsend, Washington

Business, educators, and families gathered together in Port Townsend, Washington to hear me speak on how to educate our children with the money-management skills they will need to compete in the 21st century global economy. The entire group was engaged with The Real-Life Money Game web trailer, which is a humorous look at the “showdown” moment with my son when he was twelve over the purchase of a video game at a toy store. I was impressed with this community, which might well serve as a model for the country to encourage business, educators, politicians, and parents, to join forces, as well as, resources to respond to the new legislation in the State of Washington that mandates, effective this year, that financial literacy be taught in the schools. Legislation is just one small piece of the process, according to Sharon Tomiko Santos, state rep. for the 37th district who also spoke at the event. She said that implementation is another matter, altogether, and by joining community efforts, we have a greater chance of fullfilling our mission.