Before you order, confirm that the restaurant offers free meals for kids and that your kids qualify. You can even call ahead to confirm to avoid last-minute surprises.

Common requirements for free kid’s Meal

Here are a few common requirements for free kid’s meals at restaurants

• Restaurants have age restrictions for kids to qualify for free meals. This is loosely enforced but you can’t claim your 10-year-old is only three.
• Most offers require the purchase of an adult entree.
• You can only order a limited number of items for kids (usually from the kid’s menu)
• Beverages for kids are usually not included

Restaurants offering free meals for kids every day

Fricker’s –  Kids eat free with the purchase of an adult entrée
Cici’s – At participating Cici’s restaurants, kids under 3 eat free with a purchase of an adult entrée. Call ahead to confirm if your Cici’s offers this deal
Holiday Inn – Kids under 12 (up to 4 kids) eat free at the Holiday-Inn (Details)
O’Charleys – Kids under 10 eat free with the purchase of an adult entrée.
IHOP – From 4-9 pm, kids eat free with the purchase of an adult entrée.
Stake ‘n’ Shake –  Free kids meal with a $9 purchase for kids 12 and under. Some restaurants offer this on weekends only.

One of the reasons Americans struggle financially is because they don’t have good saving and spending habits. Living within your income and saving the rest may sound like common sense. But for many Americans, it’s tough because they didn’t start off on the right foot and as time goes on it becomes harder to steer the ship financially.

This is why we need to teach our kids about money when they are young. There are a number of ways parents can involve the kids while making financial decisions.

How To Teach Kids About  Money

1. Engage kids early

Kids are never too young to learn about money.  You can encourage them to play money games. Ask the kids to add up coins when they can count.

Ask kids to read the prices of items at stores.  If your kids are older, ask them to calculate the price per unit of an item you are buying.  If an item is on sale, ask them to calculate savings compared to regular prices.

2. Set an example

Kids learn from their parents. If you are spending more than you make, your kids are likely to end up that way too.  If you are responsible with your money and involve your kids when you make financial decisions, they are more likely to grow up and be financially responsible adults.

3. Teach them money lessons for their age

As kids grow, teach them lessons that are appropriate for their age. Kids less than five years can count coins whereas teenagers can help with budgeting and investing. Older kids can also be taught to analyze stocks or invest in mutual funds.

Does your son or daughter leave the lights on all the time in their room? Do they leave the computer on at night?  Explain to them that they are wasting electricity and money by their behavior.

4. Give them an allowance and help them manage it

Give kids an allowance based on age and help them manage the allowance. Allowance can be tied to doing household chores or schoolwork.

Encourage them to spend the allowance. They will likely make mistakes but it is better to make a mistake with $10 than with thousands of dollars when they are adults.

5. Delayed gratification

Avoid impulse buys for kids’ items. Kids need to learn that they need to wait to buy things.  Encourage them to save money for things they would like to buy. Resist the urge to pitch in money if the kid’s allowance is not enough to buy his favorite toy or game.

6. Encourage teenagers to get a job

When kids reach teenage years, encourage them to get a job that pays.  Maybe they can mow the neighbor’s lawn,  tutor younger kids, or babysit the neighbor’s children. Getting a job teaches them not only about money but also about responsibility.

7. Involve them in big purchase decisions

Whether you are buying a new car or planning a vacation, involve the kids.  Help them understand how you make decisions.  Ask them to research prices and compare features. They will learn that there are trade-offs in the real world.

8. Encourage giving at a young age

Just like saving and investing, giving to charities is also important for kids to learn.  Ask them to donate a small portion of their savings to charity every year.  Find out the issues they care about and find a charity they can relate to, and contribute every year.

9. Teach them compound interest

Money doesn’t grow on trees but it does compound when you leave it alone.  Help them understand how they can save and grow the money. Understanding the magic of compound interest early will put kids on the path to a great financial future.

10. Dangers of credit card debt

Teach them the dangers of carrying credit card debt.  High-interest rates combined with compounding will make it hard for them to pay back the debt.

Here is a list of the best board games for every age.  These games will teach kids to handle money, budgeting, saving and investing, and managing debt.

Buy It Right

Skills: Handling dollars and coins, making change, understanding prices

Age range  – 6 through 10

Players – 2 to 4

Buy It Right board game helps kids understand the value of money.  They get to handle dollars and bills.  The game also introduces them to the concept of prices and helps them think whether a particular item is cheap or expensive. Kids get to set their prices, and buy and sell items while moving the pieces around the board.

Game of Life

Skills – Budgeting, insurance, taxes

Age Range –  8+

Players – 2 to 6

Game of Life is a classic board that been around since 1969.  This game introduces kids to stocks, budgeting, insurance, and taxes.  Though updated editions are available, I keep going back to the original classic edition when I buy gifts because the older edition allows kids to make more money decisions.

Pay Day

Skills – Managing a paycheck – saving and handling financial obligations

Age Range –  8+

Players – 2 to 4

Pay Day is a great game to introduce kids to the concept of saving. Kids get a paycheck every month but like adults have bills to pay.  They also receive interest on the money they save.  The player with the most cash and savings is the winner of the game. Again, I prefer the classic edition of the game which focuses on the core personal finance and budgeting concepts.  The newer version has too many bells and whistles and distracts from learning core principles.

Monopoly

Skills – Investing and managing money

Age Range –  8+

Players – 2 to 8

Monopoly is one of the classic American board games.  Monopoly was launched in  1904 and is still popular today. The game allows kids to strategically think about whether to hold cash or purchase properties. Classic monopoly works great for older kids.  If you have young kids, consider getting Monopoly Junior.

Thrive Time For Teens

Skills – Building wealth, passive income, managing income and expenses

Age Range –  12+

This is a great game to teach teens about money. The game takes on financial challenges at various stages of life – being a student, having a part-time job, investing, entrepreneurship, and accumulating debt and wealth. Teens will learn the importance of having passive streams of income  Participants can build portfolios of real estate assets, apartment buildings, or even an oil well.

Act Your Wage

Skills – Reducing debt,  managing expenses

Age Range –  10+

This board game is based on the money principles of personal finance guru Dave Ramsey.  The game includes Ramsey’s seven steps to attain financial freedom. The game drives home that point that having debt is not worth it and must be paid off. It also teaches the importance of having an emergency fund.  It is a great family bonding game if played with family.

All In One Homeschool

Though the All In One Homeschool site is meant for parents homeschooling their kids, it is a great resource for any parent.  It covers materials from Pre–K to Grade 7. Each grade level on the website has 180 days of content.

It’s sister site, All in One High school has similar materials for grades 8-12.

Math Game Time

Math Game Time has math games that fun as well as educational for Pre-K to Grade 7. The site also has worksheets by grade that you can print.

Education.com

Education.com offers lesson plans by grade level.  It also has worksheets and games to keep kids engaged.  I have been able to get by with the free plan.

Science Kids

Science Kids, as the name states is a site focused on science.  The site has science experiments, cool facts, games, lesson plans, quizzes, videos, and photos.  If your kids are looking for science fair ideas, this site will give them plenty of ideas to explore.

Khan Academy

KhanAcademy is one of the most popular sites among students.  Khan Academy offers personalized lessons for every subject.  You can learn online at your own pace.

TheFactSite.com

Thefactsite.com has facts organized by category.  Kids can click on a topic that they like and learn fun facts.  If your kids are into trivia, this is a great resource for them.

Subscription Boxes for Kids

Subscription boxes are not free but they keep the kids engaged.  My son waits for these boxes to arrive every month and gets the project done the same day the box arrives.

Here are two subscription boxes I like the most.

KiwiCo – This is a great subscription box for kids.   There is a box for every age group. KiwiCo sends a box every month with a cool project.

STEM Club – Another subscription box focused on STEM.  You can subscribe directly through Amazon.

Bottom Line

There are plenty of free educational resources for your kids.  Whether you need online games or worksheets, you can find them for free.  Subscription boxes are the only ones that I have found to be worth paying for.  The projects are really cool and the kids look forward to receiving the boxes every month.

Prime Reading is included with your Prime subscription at no additional cost.  If you are a book lover, it’s a great opportunity to get access to more books.

It’s not an exhaustive collection.  You may see several books from first-time authors but you will also find some popular books.

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Prime Reading includes books for everyone in the family including kids.  Just browse through the catalog and you are most likely to find something you like.

Searching whether a title is available for Prime Reading can be a challenge.  But this article will help you search quickly and efficiently.

How To Search Prime Reading

Amazon’s website is not the easiest to use.  Here are a few ways to navigate Prime Reading.

• Go to Prime Reading (you can search for “Prime Reading”)
• Click on Browse the Catalog to see the books available
• Use the filters on the left to filter by genre

To search by author or title, ensure that you see Prime Reading on the left of the search bar.

Let’s say, you want to search for books by author Barry Ritholtz. I type in the author’s name in the search box above.  But are no books by Ritholz including in Prime Reading.  Instead of telling me that, Amazon takes me to the Kindle Store where you can buy Barry Ritholtz’s books.  You have now left the Prime Reading.

Honestly, this is confusing.  Amazon can certainly do better with its search interface.

How many books can you check out at one time?

You can check out up to 10 books at one time.  After you check out 10 books, you must return at least one book before you can check out any additional books.

How long can I keep the books checked out from Prime Reading?

You can keep the checked out books for as long as you want.

How do I search for audio books?

On the filters on the left hand side, select the “eBooks with audio narration” box if you are looking for audio books.

How do I search for magazines?

Go to the Prime Reading Home page and scroll down. You will see the top magazines included in Prime Reading

What devices work with Amazon Prime Reading?

Prime reading works with Kindle, Kindle Fire, and the Kindle app.  Kindle app can be installed on Windows and Mac computers, iOs, and Android devices such as a phone or a tablet.

Discussion

• Have you read books on Amazon Prime Reading?
• What was your experience searching for books?  What challenges did you run into?
• What did you think about the quality of books available on Prime Reading?

Rich Dad, Poor Dad – Book Summary

Introduction

The author had two fathers – a rich one and a poor one. His biological father, the poor father, was highly educated, had a Ph.D., and went to Stanford, University of Chicago, and Northwestern University.  The rich father never completed eighth grade.

Both men had fantastic careers and earned substantial incomes. But the poor dad always struggled financially. The rich dad became one of the richest men in Hawaii, leaving behind millions of dollars. The poor dad left bills to be paid.

Having two fathers helped the author compare their advice and then choose for himself. He spent much of his time reflecting on the contrasting ideas.

We learn about money from our parents and not at school. The rich dad always exercised his brain when it came to finances whereas the poor dad put it to sleep. The rich dad would ask, “How can I afford it?”, whereas the poor dad would simply say, “I can’t afford it”.

The rich dad believed that he didn’t work for money, the money worked for him.

The Rich Don’t Work For Money

Most people work very hard for little money. They prefer the illusion of job security and a three-week vacation every year. After a lifetime of service, they are happy to get a small pension when they retire.

People are driven by fear and greed (desire). First, they work hard to get a paycheck because the fear of not having money motivates them. Then once they get that paycheck, greed sets in and they think about all the things money can buy. The pattern of fear and greed takes over their life. It’s a rat race – offer them more money and they will spend more money.

Kiyosaki and his friend Mike were able to get free comic books from the distributor because they worked at the rich dad’s store. They set up a library that was open between 2:30 pm and 4:30 every day. Children could pay a 10-cent admission fee and read as many books as they want. In 3 months, they made $9.50. They paid Mike’s sister $1 to manage the library. The two friends learned an important lesson: you can make money even when you are not there.

Make money work for you, even when you are not physically there. Don’t be dependent on your employer for money.

Why Teach Financial Literacy?

Know the difference between assets and liabilities. An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket.  The rich spend their money acquiring assets. The poor and middle-class people acquire liabilities that they think are assets.

Kiyosaki talks about a typical story young recently married couple. They live in an apartment initially but slowly save money and then move into their own dream home. Both have careers and incomes. As time goes on, their income goes up, their expenses go up as well. Their liabilities column is full of mortgage and credit card debt. They are now trapped in a rat race. Growing incomes are matched or exceeded by their growing liabilities.

Most people work for everyone but themselves. They work for the owners of the company, then for the government (through taxes), and finally for the bank that owns their mortgage.

A person can be highly educated, professionally successful, and financially illiterate. The poor dad thought that his home was an asset whereas the rich dad thought his home was a liability. A bigger home meant bigger expenses. The author agrees that a home is an emotional thing and many people may not agree with his assessment that a home is a liability.

Kiyosaki cites three reasons why owning a home is not a good investment.

• Loss of time – you could have invested in other assets that grow more in value during that time
• Loss of additional capital – Homes have high maintenance expenses, instead, we could have invested in other assets
• Loss of Education – Most people only have homes and retirement savings in their asset column. Nothing else. This costs them valuable investment experience. They lose the opportunity to become sophisticated investors because they own too few assets.

The middle class is constantly struggling because their primary income is through their salary. As their wages increase, they pay more in taxes.  Their expenses go up in line with their salary increases, setting up a rat race. They treat their home as a primary asset, instead of investing in income-producing assets.

When your income from your assets fully covers your monthly expenses, you are no longer dependent on your wages. If you quit your job, you could still cover your monthly expenses. You should reinvest excess cash flows from assets back into assets. As long as you keep your expenses lower than your cash flows from these assets, you are getting richer.

Mind Your Own Business

Most people struggle financially because they work for someone else. They have nothing at the end of their careers to show for their efforts. To become financially secure, you need to mind your own business. Your business revolves around your asset column, not your income column. If you are thinking, “I need a raise” or “I will go to school to get more training so I can get a better job”, you are still focused on the income column. But financial security can only be attained if you put money to purchase income-generating assets.

Keep your daytime job but start buying real assets, not liabilities.   Invest in businesses that do not require your presence and can be managed by other people. Real assets fall into the following categories.

• Stocks
• Bonds
• Income-producing real estate
• Notes (IOUs)
• Royalties from intellectual property such as music, scripts, or patents
• Anything else that has value, produces income or appreciates, and has a ready market

Kiyosaki loves real estate but notes that it may not be the case for everyone.  His real estate strategy is to start small and keep trading to bigger properties. Doing so delays paying taxes on his grains and allow value to increase dramatically. He also loves small-cap stocks but generally sells them within a year.

When you have money, it is okay to indulge in luxuries. An important difference between rich people and poor people is that rich people buy luxuries last while poor and middle-class people buy luxuries first. For poor people, these luxuries make them look rich but in reality, they just get deeper into debt. The rich buy luxuries with the income from their assets whereas the poor buy luxuries with their own sweat, blood, and children’s inheritance.

The History of Taxes And The Power Of Corporation

When the idea of levying taxes was initially proposed, only the rich were taxes. The idea was accepted by the majority because the poor and the middle class were told taxes were created to punish the rich. But the rich saw this differently because they don’t play by the same set of rules as everyone else. They created corporations, which helped limit their risks. This became popular in the days of sailing ships. The rich will put their money into a corporation to finance the voyage. The corporation would hire a crew to sail to the New World to look for treasure. If the ship was lost, or the crew lost their lives, their loss would be limited to the money invested in their voyage.

But over time, the government needed more money and started taxing everyone including people at the very bottom of the economic ladder. A corporation is just a file with legal documents sitting in some attorney’s office and registered with a state government agency. A corporation is a legal body without a soul.  It became popular because the income-tax rate of a corporation is less than individual income-tax rates. In addition, certain expenses could be paid by the corporation with pre-tax dollars.

An average American works four to five months for the government just to cover their taxes. That’s way too long. Every time you try to punish the rich, they find a way out. They have the money, power, and the intent to change things.  They have accountants, attorneys, and can persuade politicians to change laws or create loopholes. Consider the “1031 exchange” – it allows a real estate seller to delay paying capital gains taxes on a piece of real estate sold through an exchange of a more expensive piece of real estate. As long as you keep trading up, you will not be taxed on gains until you liquidate.  It’s a great way for the rich to accumulate assets.

If you work for money, you give power to your employer. If money works for you, you keep the power and control it.  As Kiyosaki started working for Xerox, he was disappointed every time he looked at his paycheck.  His deductions were getting bigger as he made more money. Who was he working for? Who was he making rich? He started building his real estate assets in Hawaii when the real estate was set to boom in the area.  In less than three years, he was making more from his real estate than he was from his sales job at Xerox.

Financial knowledge is made up of 4 parts.

• Accounting – The financial literacy to read numbers. The ability to read and understand financial statements allows you to identify the strengths and weaknesses of any business
• Investing – It is the science of making money.
• Understanding markets – this involves understanding supply and demand. You need to understand the technical aspects of the market – which ones are driven by emotions and which ones are driven by fundaments.
• The law – You need to understand the tax advantages and protections provided by the law. Anyone who understands that will get rich faster than someone who is an employee or a small business owner. It’s the difference between someone walking and someone flying
  • Tax advantages – A corporation can do many things employees cannot like pay expenses before paying taxes. Employees earn and get taxed, then try to live on what’s left. A corporation earns, spends everything it can, and is taxed on what’s left. It’s one of the loopholes the rich use. Board meetings in Hawaii, car payments, restaurants meals, etc. can be legal expenses for a corporation.
  • Protection from lawsuits -We live in a litigious society. It is important to protect your assets.  When someone sues a rich person, they will quickly find out that he owns nothing. He controls everything but owns nothing. Corporations provide legal protection for your assets.

The Rich Invent Money

In the real world, it’s not the smart who get ahead but the bold. Each of us can be brave and brilliant. Yet we struggle with self-doubt and excessive fear. To be financially successful, technical knowledge alone is not sufficient. You need to have courage.

Kiyosaki uses a CASHFLOW game to teach people how money works. The game helps people understand the interactions between the income statement and the balance sheet. The goal is to increase the cash flow from your assets to exceed your monthly expenses. Once you do that, you get out of the rat race. Though the game is simple, many participants in his course struggle to understand the underlying concepts. They feel that playing the game is a waste of time and that they didn’t get anything from the course.

Your mind is the single most powerful asset you have. If it is trained well, it can create enormous wealth. The author gives an example of the Phoenix real estate market. The real estate market was tough and homes were selling for $20,000 to $25,000 below market. He was able to buy the property with almost no money down and sell it for profit in a short amount of time.

You have two options.

• Option 1: Work hard. Pay 50% in taxes. Save the rest and get 5% interest (which is also taxed)
• Option 2: Take the time to develop financial intelligence. Harness the power of the brain and build the asset column

To have huge gains, you must take risks. Secure investments are often sanitized – that is they are made safe, so your returns will be less. Your financial intelligence will help you assess risks properly to improve your asset column. Taking risks should not be compared to gambling. It’s gambling if you don’t know what you are doing. It’s gambling if you are throwing money into a deal and praying.

There are two kinds of investors.

The first kind buys packaged investment through the retail outlet, financial advisor, or a stockbroker. It could be a mutual fund, REIT, stock, or a bond. It is a simple way of investing. It is like buying something from a shelf at a store.

The second kind of investor creates investment. He assembles all the pieces of the deal the same way someone assembles a computer. They are called professional investors.  You need three main skills to be this kind of investor.

• Find an opportunity that everyone missed.  Use your financial intelligence to evaluate opportunities that are not immediately visible to others
• Raise money – you don’t always need a bank to raise money. These people know how to raise capital from others.
• Organize smart people – Intelligent people hire people who are more intelligent than they are, and work with people more intelligent than they are.  When you need advice, choose your advisers carefully.

There are always risks in every transaction. Manage risks, don’t avoid them.

Work to learn – Don’t work for money

Job security meant everything to the educated dad. Learning meant everything to the rich dad.

Kiyosaki runs into talented people who earn too little. He tells the story of a journalist he met in Singapore. She had incredible writing skills but was unwilling to take sales courses that would have greatly helped her income. She believed that the salespeople she had met in her life were in it for the money but that she was a “professional”. Most people are just one skill away from increasing their income exponentially.

A newspaper reporter could take some courses in copywriting and sales. Instead of working at the newspaper, she could work at an advertising agency. She could learn valuable skills in public relations. She could write her novels at night. She will have the skills to better sell her book and become a “best-selling author”.

Kiyosaki’s rich dad encouraged him to learn a little bit about a lot. Kiyosaki worked for years in different areas of the rich dad’s company. He wanted Kiyosaki to know a little bit about every aspect of his business empire.

The hardest part of running a company is managing people. Upon returning from Vietnam, Kiyosaki joined Xerox as a salesman because it had one of the best sales training programs in America. His poor dad was ashamed. Being an intellectual, he thought that salespeople were below him.

Jobs is an acronym for “Just Over Broke”. Most schools don’t financial intelligence is intelligence. Most workers work and pay bills.  Workers worked hard enough not to be fired, and owners pay just enough so that workers don’t quit. Most workers focus on working for pay and benefits that reward them in the short term but are often disastrous in the long run.

Kiyosaki recommends young people seek works where they will learn, more than what they will earn.  Workers should take a long view of their life. Look beyond job security. Consider taking a second job that will teach them. Kiyosaki recommends joining multi-level marketing companies to learn sales skills.

The poor dad wanted Kiyosaki to specialize. To him, specialization was a way to get paid more. But knowing a little about a lot of things will pay dividends in the long run. Even companies groom leaders by moving them from department to department so that they are ready to lead the company one day.

The main management skills needed for success are:

• Management of cash flow
• Management of systems
• Management of people

Kiyosaki believes that sales and marketing are specialized skills.  The ability to communicate to another human being, whether are customers, employees, bosses, or children, is the base skill for all personal success. Being technically specialized has strengths and weaknesses. But without communication skills, technical people will not earn much.

The rich dad gave a lot of money away – to churches, to charities, and his foundation. He knew that to receive money, he had to give money. Giving money is the secret to most wealthy families. His poor dad didn’t have much and was hoping to give some money away one day when he had some money saved up.

Overcoming Obstacles

There are five reasons why financially literate people don’t build their assets and cash flow. They are

• Fear
• Cynicism
• Laziness
• Bad Habits
• Arrogance

Overcoming fear

Everyone has fear of losing money – even the rich. What’s different between the rich and the poor is how they handle the fear.  To avoid losing money, most people play it too safe.  But in life, winning always follows losing. It’s like learning to ride a bike. You fall down many times but eventually, learn to balance the bike and ride it.

For most people, the reason they don’t win financially is that the pain of losing money is far greater than the joy of being rich.  Failure makes you stronger and smarter.  Be inspired by your failures and turn them into rallying cries.

Most people have a balanced portfolio and play it safe. But if you have little money and want to become rich, you must be focused, balanced. Thomas Edison, Bill Gates, Donald Trump, George Soros, and George Patton succeeded because they were focused.  The poor pot their eggs in too many baskets. The rich focus and follow one course until they succeed.

Overcoming cynicism

All of us have doubts. Most people are poor when it comes to investing because they are running around yelling, “The sky is falling”. The cynics never win. Cynics criticize and winners analyze. Analysis allowed winners to see that the critics were blind, and to see opportunities that everyone missed. Finding what other people miss is the key to success.

When you are in doubt and feeling a little afraid, do what Colonel Sanders did to his little chicken. He fried it.

Overcoming laziness

Busy people are the laziest.  We all hear stories of a businessman who works hard. The wife is left to take care of the children. He thinks he is doing the best for the family. He has relationship problems with his wife and his work performance slips. He eventually loses his job.

People are too busy to take care of their wealth and health. The cause is the same in both cases. They stay busy as a way of avoiding something they don’t want to face. They are lazy by being busy.

“I can’t afford it” shuts down your brain. “How can I afford it?” opens up possibilities, excitement, and dreams. Many people feel guilty about their greed or desire. It’s old conditioning from childhood.  To get out of the rat race, be a little greedy. It is the best cure for laziness.

Overcoming bad habits

Our lives are a reflection of our habits than our education.  The poor dad paid his bills on the first of the month but he had  very little leftover. He has poor habits because he pays everyone else. What about paying himself?

To become financially stronger, pay yourself first.  If you pay yourself last, you become weaker.

Overcoming arrogance

Every time you are arrogant, you lose money. People use arrogance to hide their ignorance. When you know you are ignorant in a subject, start educating yourself by finding an expert in the field or by reading a book.

Getting started

Gold is everywhere. We are just not trained to see it. Just like riding a bike. At first, you wobble a little but eventually, it will be a piece of cake. Here is the 10-step process that Kiyosaki suggests

Find a reason greater than reality: the power of spirit

Most people want to be rich. Then reality sets in. The road to financial freedom looks difficult with too many hills to climb. It’s easier to just work for money as an employee.  Your purpose is a combination of “wants” and “don’t wants”. Your wants may be to have control over your time and money. You “don’t wants” may be to not work all your life. Without a strong reason or purpose, everything in life is hard. Find your purpose.

Make daily choices: The power of rich

Our spending habits reflect who we are. Poor people have poor spending habits. The poor don’t build their asset column. The choices you make every day decide whether you get rich. Invest in your education because your mind is a real asset. Most people simply buy investments rather than learning and investing.   Kiyosaki only paid $385 for a course on real estate. That made him at least $2 million.  Take a long view on wealth. Don’t believe in get-rich schemes.

Choose friends carefully: the power of association

Seek out friends who have money for their knowledge. People with a lot of money often report that their poor friends ask them for a loan or a job, but never ask them how they made their fortune.  Smart investors don’t time the markets. If they miss one wave, they wait patiently for the next one.

Master a formula and then learn a new one: the power of learning quickly

You become what you study. Your mind is powerful, so be careful what you put in your head. Kiyosaki took a course on buying real estate foreclosures. He put his learnings into action for three years. Once he mastered that formula, he was looking for other formulas. He attended classes designed for traders. Though he didn’t learn from every class, he did pick up a few things that made him a more profitable investor.

Pay yourself first: the power of self-discipline

This is the most important step in your path to financial freedom. Most people pay their bills first and pay themselves last. Paying bills is important but take care of your asset column first. Be astute enough to manage your finances such that you don’t get in a tough financial situation. To pay yourself first, keep the following in mind.

Don’t get into large debt. Keep your expenses low.

When you come up short, use the pressure to make more money and resist the urge to dip into your savings or investments

Pay your brokers well: the power of good advice

When selling a home, many people want to sell it themselves. They take the “For Sale By Owner” route. Or they use discount brokers. We live in an information age where information is priceless.  A good broker can save time and money since he has his ears on the market. Note that not all brokers are the same. Find a broker who has your best interests at heart – the ones that will spend time educating you.

Be an Indian giver: the power of getting something for nothing

“Indian giver” refers to cultural misunderstanding. When the first European settlers came to America, they were shocked by some of the practices of  American Indians. If a settler was cold, the American Indian would offer a blanket, which the settlers assumed for a gift. When the settlers asked for the blanket back, the settlers were offended.

A question every investor should ask is: how fast can I get my money back? Wise investors look for more than ROI. They look at the assets they get for free once they get their money back. An example would be investing in stock but once the stock starts moving in your favor, take your initial investment out, but let the rest ride. It’s essentially free money.

Use assets to buy luxuries: the power of focus

Use your desire to consume to inspire and motivate you to invest. Most people focus on borrowing money to get the things they want. The earlier you train yourself to be the master of money the better.

Choose heroes: the power of myth

Heroes don’t just inspire us. They make things look easy. If you are a real estate investor, learn how he negotiates and puts together deals. When it’s your turn to make a deal, you will subconsciously be acting like Trump.

Teach and you shall receive: the power of giving

Whenever you feel short or in need of something, give what you want first and it will come back in buckets. It applies to not just money but a smile, love, or friendship.

 Some To Do’s

• Stop doing what you are doing. Reassess what you are doing for better results
• Look for new ideas – Read books for new investing ideas.
• Find someone who has done what you want to do
• Take classes and attend seminars
• Make lots of offers if you want to do real estate
• Jog walk or drive a certain area for 10 minutes once a month
• Shop for bargains in all markets
• Look in the right places.
• Think big
• Learn from history – All big companies start as small companies.
• Action beats in action

But a Bank of America credit card (and debit card) offers a unique perk that you will not find with most cards.  It gives you free admission to museums on the first full weekend (Saturday and Sunday) of each month.  The program, called Museums On Us, has been in place for more than 20 years. It’s a great perk to have if you love visiting museums or you have kids who love to go to museums.

If you have a cashback credit card from Bank of America, you will get cashback and this additional perk of free admission to museums.

How does it work?

A Bank of America credit or debit cardholder can get free admission to participating museums on the first full weekend (Saturday and Sunday) of the month.  You can find the full list of 220 participating museums here.

If you have a Bank of America card, and if you add your spouse as an authorized user, both of you will get free admission.  You will need to present a photo ID and your credit card in lieu of payment.

You can visit as many museums as you wish during the first full weekend of every month.  If you are a museum hopper, this can be a great way to spend your weekend at multiple museums.

Are there any exceptions or exclusions?

The free admission offer only applies to regular museum visits.  It does not apply to special exhibitions and fundraising events.

What about the kids?

At some museums, kids get free admission.  At others, you will pay an admission fee.  The admission fee for kids is usually a reduced fee.

If your kids have a Bank of America account, that will get them free entry.

How much money can you save every year?

Admission fees vary from museum to museum.  Let’s say it’s $10 per person and you have two cards in your family.  Let’s also assume that you visit 6 museums in a year.  That’s a savings of $120.  Obviously, your savings will be much higher if you visit more museums during the year or have more family members with Bank of America cards.

Bottom Line

Bank of America’s Museum on Us program allows you to save money on museum visits.  Free admission to participating museums is valid on the first full weekend of every month.  It works great for people who love visiting museums, and for families with kids.

Parents can help kids develop core beliefs about money.  It is these core beliefs that drive financial behaviors. Core beliefs include saving money, spending money based on your values, having low debt, and having an emergency fund to meet unexpected expenses.

Where Does Money Come From?

Kids need to understand that mom and dad make money by working and investing. They need to understand that money doesn’t come from credit cards, banks or wallets.

A few basic ideas on money that every kid needs to know.

Things Cost Money

We need to help kids understand that things cost money.  They need to understand that parents can’t afford everything, and that money must be spent wisely.  When you take your kids to the store, pay with cash so they understand that money was exchanged for a certain item at the store.

Delayed Gratification

Teach them delayed gratification.  Teach them that impulse is not good. Start with small things such as asking them to wait 15 minutes before they can open a candy.  Invest money with your kids, and show them how money grows over time.

Compound Interest

Compound interest is the foundation of investing.  Even Albert Einstein called compound investing the eighth wonder of the world.  Help your kids understand how money grows over time.  For example, show how a stock of a company they like (such as Disney or Google), has appreciated over time.

Saving, Investing, And Giving Back

Kids need to understand that they cannot spend all the money that comes in.  Part of it needs to saved and invested.  You can also encourage them to save, and give money to charity because giving back is a key part of handling money.

Here are some practical ideas you can use to teach kids about money.

Using a Piggy Bank

Ask them to save their money in piggy banks when they are very young.  Ask them to have multiple piggy banks – one to spend, one to save and invest, and others to give to charity.

Bank account

Open a bank account in their name when appropriate, and ask them to manage the account.  Managing a small amount of money early will prepare them for the day when they will have a full-time income, and need to manage a big balance in their bank account.

Part-Time Jobs

When they are ready, encourage them to get a job.  This will give them hands-on experience on making, and managing money.  When they get the first paycheck, and 30% goes to taxes, they will understand that paying taxes is a part of life.

In addition to teaching them about money, jobs give them an opportunity to work and learn to get along with others.

Make A Budget and Ask Them To Manage Their Money

Even if the kids have only a small amount of money, ask them to make a budget.  This will give them an opportunity to plan their savings and expenses.

Show By Example

Kids follow our habits.  When we overspend, they are likely to overspend too. Be wise when spending your money, and talk about your money decisions with your kids. Involve them in family budgeting when it’s appropriate.  When you are about to make a big purchase, ask for their opinion and let them see how you arrive at a decision to buy certain things.

If you live a simple, and frugal life, they will too. If you are content with your life, so will they.

Understanding the Dangers of Debt

Staying away from too much debt is key to financial independence.  Kids need to understand the dangers of carrying credit card debt. Too many kids get in credit card debt early and struggle to pay back for years.

Bottom Line

Just like building any habit, building good financial habits takes time.  Parents have the opportunity to get kids on a good path early.  Teach them the principles of delayed gratification and compound interest early.  Allow them to set a budget, and manage small amounts of money.  They may fail a couple of times, but by the time they become adults, they will have the experience necessary to manage money on their own.

As a parent, you love to see your kids play sports. As soon as your kids turn 5, you put them in one or more sports leagues.  You spend the weekend taking them to games.  You quickly realize that kids’ sports activities not only take up time but also cost a lot of money.

Sports have become very expensive over the years. Some parents spend up to $10,000 per year on sports.  The cost includes paying for equipment, coaches, facilities, hotel stays, uniforms, and supplies.  If you have more than one kid or if your kid plays more than one sport, your costs will be much higher.

How can you save money on your kids’ sports activities

Pick One or Two Sports And Stick To Them

When your kids are very young, it’s okay to try many sports.  But as they grow older and build interest and skills, it’s best to pick with one or two sports they like and focus your attention on those sports.  This way, you are not spending money on equipment and training for several sports.  In addition to saving money,  you will also save time by not having to take your kids to multiple sports activities.

Budget Costs

Plan ahead on what your expenses might be for the next several years.  Have a financial plan that will help your kid achieve his sports goals.  While kids’ sports are important, do not forget to save for your retirement.

Be Realistic – Tough To Become pro or Make It College Sports Teams

The chances of your kids making it to the pro level or to NCAA teams is very low.  Your investment in sports will give them a great foundation in life but not necessarily a sports career. Keep this in mind as you spend time and money on sports.

Buy Used Equipment, Sell Them When You Don’t Need It

Many sports stores sell used equipment that is of high quality.  By buying these, you can save a ton of money.  Your kid may not like to buy all his equipment used, but at least buying a few used items can save money. Also, once the kids outgrow the equipment, you can sell them to generate some cash.

Choose Local Recreational Teams

Joining local recreational leagues save time and money.  If your town has a competitive recreational league, consider yourself lucky.  In recent years, travel teams – teams that travel from across the state or country – have become very popular.  Travel expenses for these teams run in the $2000-$3000 per season.

But pet ownership can be a burden on your finances. The lifetime cost of owning a pet is $15,000 to 20,000.

One-Time Expenses

There are one-time costs associated with adoption, spay/neuter, vaccination, and microchip.  These costs can easily run between $500 to $1000. Consider adopting from a shelter instead of buying from a pet store.  Not only is buying from a shelter cheaper, but you will also be helping the animals if you adopt from a shelter. If you are unwilling to train your pet, you may have to pay someone for training.

Annual Expenses

The on-going annual cost runs in the $500 to $1000 range, though it varies widely depending on the type of pet. Annual costs include expenses for food, doctor visits, vaccinations, medicines,  and toys and grooming.  These are on-going costs that you need to include in your monthly budget.

Investing Time (And Money) In Your Pet

Owning a pet also means investing time.  For example, you need to walk your dog every day and take him or her to the vet periodically.  If you are unable to walk your dog, for example, and you hire a dog walker, you will obviously incur additional expenses.  Also, if you travel often, and have to leave your dog at a kennel.  Kennel or pet-sitting costs can be very expensive.  If you can get a neighbor or a friend to take care of your pets when you travel, you will save a lot of money.

Planning For Emergency Expenses

You also need to pay for emergency expenses.  An unexpected accident or a surgery or a visit to ER costs thousands of dollars.  It’s a good idea to have an emergency fund for your pets. Consider pet insurance if you think you cannot handle these unexpected expenses.

Pets can cause damage to property (especially carpets).  Many apartments and hotels ask will ask you for a deposit if you bring pets into the property.  You will also need to buy additional cleaning supplies for your home if you own pets.

Bottom Line

While owning pets has many benefits, there are financial implications you need to consider. One-time and annual costs can run up to $1000 or more each.  Properly budgeting for these expenses will help you avoid surprises. Consider pet insurance and an emergency fund to navigate through the tough times that you will sometimes encounter.

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