Face it, talking to your kids about debits, credits and collateral is probably not going to boost their money IQ.
You need a new plan, and I’m here to help.
Here are some inspirational quotes and comments you could use as talking points the next time your 10-year-old throws a tantrum at the toy store or your teenager pooh-poohs the idea of finding a job for the summer.
I’ll start with my favorite, from a former student of the famed London School of Economics:
“You can’t always get what you want.” — Mick Jagger, The Rolling Stones.
“Money is like a beautiful thoroughbred horse, very powerful and always in action, but unless this horse is trained when very young, it will be an out-of-control and dangerous animal when it grows to maturity.” — Dave Ramsey.
“Rule No. 1: Never lose money. Rule No. 2: Never forget rule No. 1.” — Warren Buffett.
“Focusing your life solely on making a buck shows a poverty of ambition. It asks too little of yourself. And it will leave you unfulfilled.” — President Barack Obama.
“The mint makes it first; it is up to you to make it last.” — Evan Esar.
“When peer pressure rears its ugly head, it’s easy for most cubs to be misled.” — The Berenstain Bears.
“It’s good to have money and the things it can buy, but it’s good too to check up once in a while and make sure that you haven’t lost the things that money can’t buy.” — George Lorimer.
“If you would know the value of money, go and try to borrow some, for he that goes a borrowing goes a sorrowing.” — Benjamin Franklin.
“Formal education will make you a living; self-education will make you a fortune.” — Jim Rohn.
“Las Vegas is the only place I know where money really talks — it says, ‘Goodbye.’ ” — Frank Sinatra.
“We teach children to save their money. As an attempt to counteract thoughtless and selfish expenditure, that has value. But it is not positive. It does not lead the child into the safe and useful avenues of self-expression or self-expenditure. To teach a child to invest is better than to teach him to save.” — Henry Ford.
“One penny may seem to you a very insignificant thing, but it’s the small seed from which fortunes spring.” — Orison Marden.
“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose.” — Dr. Seuss.
“A nickel ain’t worth a dime anymore.” — Yogi Berra.
“The only reason a great many American families don’t own an elephant is that they have never been offered an elephant for a dollar down and easy weekly payments.” — Mad magazine.
And finally, from actor Will Smith: “Too many people spend money they haven’t earned to buy things they don’t want to impress people they don’t like.”