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Top Ten Survey

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What are the top ten financial principles you want to impress on your kids? Choose from the following list or send us your own!

Kid's Money visitors have been submitting their views and voting on them for the past several weeks. The early results are in and here are the leading candidates for the Kids' Money Top Ten List:

Discipline in saving and the ability for delayed gratification in order to build financial security and to pay cash when a purchase is needed or desired.

Save your money and get interest. Work to make money at the same time.

Always have and work towards a financial goal. Adjust your goals as necessary but never abandon them.

Begin a retirement and investment account now. The earlier you start a long term savings/investment account, the bigger the payoff in the future.

If you don't have the CASH to pay for it, you can't afford it. Being able to make the payments doesn't mean you can afford it.

Money isn't everything and greed is not good.

Don't make money your goal. Money results from providing the right service. Choose the right service and money will follow.

Save at least 10% of each and every paycheck. Force yourself to do this. It will pay off in the long run.

A sale in a store is not a sale if you can't afford it.

Earn some, save some, spend some.

Make your voice heard! It's not too late to cast your vote or even submit your own financial principle.

Please note: Most of these responses are thoughtful and sincere. A few are neither. Those responses are included in the possibility that some people may actually feel that way. Hopefully, those visitors have taken the time the read the vast majority of responses that can provide a real benefit. Please do not take the "spend everything" suggestions seriously. Thank you.

While money isn't everything, life is a lot more manageable when your money is managed well. Therefore, teach your child to tithe, save, invest and spend wisely.

Every gift comes from God. Someday, your salary will be just like your allowance..from your Father.

Getting a job is to learn more - not just for the money. Though money is good, it also wise to save.

I feel you should save your money like me.

Save, spend, earn!

I think you should give your kids as much money as they want...they need it as much as you do, so save money for a little while, and then give them about 100 bucks and say it is their allowance for a few weeks...that will make them really happy.

My Father always told me to "spend less than you earn".

Is it possible that money is directly proportionate to the level of responsibility we are willing to take on?

First and foremost: The world doesn't owe you a living. You owe it to yourself. Learn to work, work smart, and never go into debt. NEVER.

Never life it up so high, you can't live it down! (True of money and life!)

Work for it! I made a deal with my child - do chores on time and double his allowance.

The clothing industries are out there to hunt teenagers. Teenagers are brainwashed by the idea that having big brand clothes is cool. Where do they think they get their money from? Parents! Of course!

The best investment you make is in yourself.

Good health to all!!!!!!

I think it is important to use you money AND GO SHOPPING!

Try to earn and save responsibly and only spend money on things you really want or need.

Money doesn't grow on trees. Money doesn't buy happiness. You earn what you get. You work to get money, it doesn't come for free. Pay off your credit cards, when you let it sit, the interest doubles the price you think you paid.

If you take 10% of your money out of every earning and put it in a mutual fund at age 12 lets say. You would be a millionaire at age 25. It's that simple. You make $50 put $5 in your fund.

From each dollar, give 1/3 to charity, put 1/3 in savings, and use 1/3 for spending.

A penny saved is a penny earned.

I think that you should save 10% to 25% of your money to use later for college, retirement, things you want, and for emergencies. I think that you can give kids an allowance so they can learn how to manage money in the future and save money. Before you spend your savings, think "is this what I really want to spend my hard-earned money on?", that will help you judge whether you REALLY want it or are just buying it for the spur-of-the-moment.

That they get it (allowance) on time.

I think that it is important to save money for the future.

Kindness and manners.

The principles that are important are that you have to be a certain age where you can understand how to do something correctly. That age would mainly start at your teenage years like 13. Or maybe 12. Because you don't want any kid running a business that is making jokes and cheating on the job. Another principle is that you shouldn't just think of money all of your life. Think of the more important things of life and we were not here to make money. We were here to share things. Those are some principles that I think should be made and I am 13.

Basic 10, 20, 70 RULE. 10% Tithing to the Lord. 20% Savings for a rainy day (retirement). 70% is what you spend. If you follow this rule, you will never go without :-).

You'll save a lot more if you use the services of a REPUTABLE Financial Advisor. Don't try to play the stock market yourself...there's too many hidden charges.

It's important to take care of your own family, however, you should always give what you can to the needy - help take care of widows and orphans. You do need money for life's basics, but money isn't everything. Don't lay up your treasures on earth because it's all temporal.

Saving is good. Investing is better. Make your money work for you.

Hard work.

Money is something every child wants. It is just as important to a child as it is to an adult.

We don't live for money, money lives for us.

Just because something is cheap does not mean it is a bargain if you do not need it. Also each time a child or an "adult" for that matter enters a store doesn't mean he has to buy something.

Find something that you really want. Then, work like a dog to get enough money for it and you'll be glad you did!

My advice is to have a goal. Find something you really want that's a reasonable price. This will motivate you to work harder. Once you've made enough money for the item, make a little but more before you make the purchase. Then, when you but the item, you'll have some money left over.

I found myself spending just about all of my money on other people. My parents, sister, friends, just about everyone but myself. Then, I got some envelopes. I put them in four different categories. I labeled them "Me", "Others", "Savings", "God". After that, my money was evenly distributed among the four catagories and I was much happier. Just because you spend money on others, does not make you happy. More than half the time, those I spent it on were upset because I did not ever use it for myself. Now, even at 13, I am more responsible with my money.

The money we have does not come from the Lord. Jesus himself recognized money as man-made. ("Give unto Caesar what is Caesar's"). Money is merely a standardized, generally accepted means of acquiring the goods and services we need or want from those who produce or provide them. Money can not buy happiness because happiness is not a product or service. Yes, money is important; it allows us to acquire life's necessities and some of its luxuries. It is up to each of us to decide how much we need to satisfy our wants and desires, and to figure how much money we need to meet them. It is then that one needs to budget or compromise.

If your outflow exceeds your income, your upkeep will be your downfall!

That you have fun spending money.

Money is something you earn. Don't expect to get it.

I think that you should ask your parents for a higher allowance if it's low. You should also save up. I have a ton of cash because of this.$$

Just because you have two dollars doesn't mean you have to spend it. Save each two dollars and get something you really want.

I teach my children that window shopping can be fun. Sometimes we go to department stores and pretend we have the money to spend. We put all our wants in the cart and in the end leave our filled cart there and get an ice cream cone on the way home. It takes the edge off those that have a problem spending and like to shop but can't afford to!! Crazy as it seems it helps us stick to a budget.

Earn money, save money, spend money.

We are trying to teach our children that the money really will not burn a whole in their pocket. They like to spend it as soon as they receive it. It really is quite a challenge.

Repay to God at least 10% of your earnings on the first day of every month, and you will be blessed. Malachi 3:10(NIV) reads, "Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the Lord Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it."

We started out on the wrong money foot with our son. He saw us use the credit card too much and now the struggle we have to get out from under it. I want him to learn from this so when he is older he doesn't do the same dumb thing.

Pay yourself first. Your time is you most valuable asset.

"...the love of money is the source of all sorts of injurious things...those that have reached out for this love have stabbed themselves with many pains." I Timothy 6:10 NWT
Note: The quote says that not money but the love of it will lead one to be stabbed with many pains. How do you know if you love money? If you can not answer that, then chances are you are already on the road to pain.

Did you know that if you put $2000 away when you are 18 that when you turn 65 you could have over a million dollars! It's true, early money makes the money. This is based on the money earning about 9%.

Earn money, save some, find out what you want to spend it on, earn enough and buy that thing you wanted. And then at the same time your making money. When you saved some money that you had in the bank you are making interest on it. And then you can buy something else while earning and saving. It all comes together as a smart idea.

Teach your children the difference between having money and being rich. To be rich, is to be able to share with others, experience life and enjoy every day we have! Of course, money helps with this but if your first goal is to have money you have missed out on too much.

You never know what's round life's corner so eat you dessert first.

I think parents that are so cheap they won't even give their kids an allowance is so stupid!!!!

You can't buy happiness...yeah sure, the guy who said that never rode in a brand new car with a thousand bucks in his pocket. Money can't buy you love but it can and does buy happiness. We should make it clear to our kids that money should not be our main goal in life, but to use money to obtain as much happiness in their lives as possible.

Money is important that you have it. I put it in the bank and use my keycard to get it out if I want it.

This list is too long!!! Most should be deleted.

Spending money on other people instead of being selfish and being greedy. You will get more satisfaction out of that than anything.

Money doesn't grow on trees but it does in the stock market.

Money is just paper and metal and if you think of it that way than is it something to get greedy over? I should know because it happened to me.

Your family and friends and education and god.

Spend as much money as you can, especially if it's on other people. Either way, it makes you feel good!

I think that kids should earn their own money through work, then they can spend it themselves and learn first-hand about the best way to deal with money that works for them, no pain no gain I say.

Instead of going to the candy store or buying junk you can save it and spend it on something that you really want. For example: clothes, toys and other stuff.

Remember: A tenth of all you earn is yours to keep.

In my opinion the important principle in addition to the ones already enunciated is to make the kids understand the value of money. They have got to know the hard work behind every single penny earned so that when they spend they know the value of money and the need for the same. The moment this concept is known to the child he has the ability to analyse the expenditure pattern and inculcate a habit of self analysis before spending even when he grows to be a responsible man. Saving for the future of the children is very important keeping the needs of theirs in mind when they grow up. Long term investments which become liquid when they are required when the children grow up and need the support of their parents for settling down is very essential.

Credit cards are evil. Start saving and investing early and get a debit card for your checking account. A debit card works just like a credit card except that you are spending YOUR money, not the bank's.

If you go to the mall and you want to buy something right away you should go and find something else before you decide to buy the first thing you see!!!!!

Tithe at least 10% or nothing else you make will last.

Save your money for the future. You may spend, but sparingly.

You can't afford everything. Choose one or two things that you really want or need, and let that be your luxury. Some people choose to spend their extra money on cigarettes, some alcohol or drugs. I don't waste my money on those things, which made it possible to spend my money on Lexus LS 400 payments instead. Which would you rather spend your money on?

Never accept a "pre-approved" credit card, no matter how tempting, the issuer doesn't care that you may be spending more than you can afford. Buying on credit is bad news, unless it's a house or a car. You should save for everything else and pay for it when you purchase it. Sometimes by the time you've saved for it, you realize you really didn't want it or need it. I know this because I received a "pre-approved" cred ut card 25(!) years ago and have just now started to get out of debt. Credit cards are too easy to use and too hard to get rid of. All the credit card people care about is making lots of money off you! Don't give them that chance. PLEASE!!!

As soon as our children were born, we opened savings accounts for them. We started by putting every cash gift they received in it. Now we put allowances and the change we collect (which we give to them to roll) into the accounts. It adds up.

Money is not everything and you can always rely on your parents to help you out of financial difficulty.

We started our girl young to save her money. Every time she get money, she bank it and daddy buy treats.

I think kids should get allowances, but they should save them for pets or other important things.

I say everything you want and can afford - I think you should buy it.

Do what I say.

Don't spend your money on things you don't need and don't get credit cards because it is easy to overspend.

You are young but you need to save to get anywhere in life.

Don't spend your money like it grows on trees.

Give half of your paycheck to your parents to hold on to so you don't spend it all at once.

Spend but be wise on what you buy.

Even if you get an allowance still think about working for money. It gets you more money, it can build more muscle, and chances are you'll be more successful in life.

A typical teenager spends several thousand dollars a year, mainly on cars, clothes, food, and entertainment. This amounts to nearly $80 billion annually nationwide. Most teens are not well prepared to make these purchases. On a national test of teens consumer knowledge, sponsored by the Consumer Federation of America, high school seniors received a failing grade. They answered correctly only 42% of questions about banking, insurance, housing, cars, and food. Start teaching are children young on saving, budgeting, and basic problems solving issues and better prepare them for their future.

As a teenager, money isn't a means of survival. It's about quality of survival.

Try to express that being rich is being happy. Also, stress the point that a comfortable living is very good, which means make you investments a game instead of a living. That way, the worries and stress level is not there.

Never accept a "pre-approved" credit card, no matter how tempting, the issuer doesn't care that you may be spending more than you can afford. Buying on credit is bad news, unless its a house or a car. You should save for everything else and pay for it when you purchase it. Sometimes by the time you've saved for it, you realize you really didn't want it or need it. I know this because I received a "pre-approved" credit card 25(!) years ago & have just now started to get out of debt. Credit cards are too easy to use & too hard to get rid of. All the credit card people care about is making lots of money off you! Don't give them that chance. PLEASE!!!

Telling my children about our family current financial situation is wonderful knowledge that teaches them to understand reality.

Don't treat money as if it was your best friend.

I think kids should be kids as long as possible but I also think that they can do things around the house so they can get thing they want like CD's go to the movies with friends and things like that so I think that they should get money on how they do on report cards and things like that.

A child needs to know you can spend money to have fun and on things you might want. But do plan for the future unexpected things that might happen and take care of the needs first.

Shouldn't us parents let our children be children as long as possible?

A child needs to know you can spend money to have fun and on things you might want. But do plan for the future unexpected things that might happen and take care of the needs first.

Sometimes the only way a person can learn about the value of money is the hard way--by getting in debt and seeing how hard it is to get out of debt. It's really true what they say, "A penny saved is a penny earned!"

Good grief.. Is money that important for children to be worried about? They have the rest of their lives to plan out retirement etc. Most children recognize a rip off if not the first time, then definitely the second. They tend to learn the same lessons we as adults learn in smaller scale. Let us not forget that children are ripe for learning. It's why they are children and most seem to have a basic common sense. Example - If you spend all your money today, you won't have any tomorrow.

Money is not the most important thing in life and, in fact, money can be a very destructive influence when materialism is rampant. It is far better to be happy than rich.

Shop wisely. Only buy what you plan for, not what is on display. Parents should let their children join them in researching major purchases either at the library or on the Internet. My children know that it is best to buy on sale and you can find out about everything for free at the public library.

Save your money for things you REALLY want. Don't spend on things that you want in passing.

Revolved around money, our world and everyone in it are becoming less and less appreciative of the simple things in life. We will eventually cripple each other through the greed and want of this so-called powerful source of reinforcement. When we are hungry we eat, and eat just enough to fill us up. Some of us don't know when to stop, don't know our limits. Obesity is the result of selfish greed and I don't just mean food. Please let's not forget our manners, sharing and considering are important qualities, but they're getting suffocated by present day technology. All good things come to an end, and laughter ends in tears. I believe if some serious changes aren't made soon someone somewhere will have to eat these words, if not indeed everybody. When you've finished reading my views unglue your face from this screen and take yourself to the nearest forest or beach, somewhere you can get close to the things that have made our existence possible . Read a book!! Read it out loud let yourself be heard!

A reminder that "Money does not grow on trees...that we can't pull money out of thin air" is vital to the success of our child's understanding of money. Our son rarely asks for expensive gifts...he learned at an early age that we can't always afford luxuries...so he tempers his wants with reality and always asks if we can afford to buy it. If we can, we do occasionally buy the larger toy, otherwise we find other substitutes for his needs.

Kids need to learn early what most of my generation learned too late: how to SAVE, avoid credit card debt, budget from an early age to learn budgeting as a habit, much like brushing your teeth. You don't question it, you just do it!

My Mom taught me to invest money on educational things like if you have 10.00 dollars and see a educational book you should spend the ten dollars because the book is more important then saving money for a toy.

10% Charity, 30% Savings, 30% College, 30% Quick cash - do this with all monies, and you will be amazed how each fund builds up. Teaches discipline and savings planning. Start youngsters when able to understand numbers. It helps them to comprehend math when they have a vested interest in something.

Be generous and wise with the money that you have and you'll always receive more.

The key to a secure financial future, never spend more than you make.

We teach our children the costs of running a household. Now they can better understand that when we say no to certain expenditures, we are not doing it to be mean, but because it has effects elsewhere on the household and the family.

While investing in major corporations may be feasible for the wealthy, the majority of us should teach our children the value of a dollar by having them earn it! Trust funds aren't there to cushion their fall from grace.

Teach children how to trade items with their friends for mutual benefits and the start of negotiating skills.

When I was in high school, my parent's told me my job was to get the best grades possible to go to the best college possible to provide for myself. Instead of giving me the fish, they taught me to spend this time to become a better fisherman. There's always time to work later. Do your best in school and you will be rewarded the rest of your life.

We do not give our children money for maintaining the household which is their own environment. We do not reinforce bad behavior with gifts of money or anything else. When my children behave wisely, they are then rewarded with our positive encouragement and/or material items.

Having a financial plan - goals that are important to you and a plan (larger goals broken down into manageable increments) for achieving them.

Having money quite often encourages you to make some more...and gets you a start in life. If that's a couple of pounds pocket money, then stick 20p in a smartie tube every week and soon you'll have an emergency money for chocolate supplies! or a friend's birthday which you forgot was coming up soon. The problem with all these wise parent- type listings is that young people will read it and say 'yeah yeah' cos it's like preaching...they've done it already. Be realistic about your goals and don't let accumulating money become your goal in life!

Learn how to spend their money wisely by comparison shopping.

Children should save for short-term and long-term goals. Reaching short-term goals encourages continued savings. Long-term goals teach the power of regular investing, compounding, reinvesting earnings and long-term growth. ($1,000 before age ten requires saving about $3.50 a week for 5 years at a 5% rate of return.)

First, grab a piggy bank. Second, go around your house and search every crack and corner and look for "loose change." Put those in your piggy bank. At the end of the month, you will be surprised how much you've saved. Do that for a long time and you'll be amazed how much you've saved. Trust me..

Children as well as adults need to understand "opportunity cost." Keep in mind that once the money is spent, the opportunity to use it in an another way is lost. For example, a child gets $10.00 for an allowance. He wants to go to the movies and buy a new cassette tape. If he decides to buy the cassette, the opportunity cost is the movie. Therefore, it is wise to consider the opportunity cost of everything you buy and what you do.

Money is compressed work, stored energy, which can be exchanged for goods and services. If exchange is delayed, money can be saved or invested so that it will create more money in the future. Maturity can be defined as being able to wait until our investments reach maturity!

Save, save, save for college and retirement. Even though you're young you need all the money you can get!

It is more important to save than spend.

Money, Schmoney!

Teach the kids the value of money. Make them aware of the sucking world because we won't be there in future. Make them street smart, carry themselves confidently, save each and every penny they can and do not topple if something bad happens and face everything courageously.

Kids need money to flaunt in front of their friends.

Money is very important for the soul to develop completely. Instead of saying "In God we trust" we should say in money we trust, for money is always reliable to its owner.

Save towards a goal.

Money is a key source in your teenage years but there is also friendship, relationships, sports, family, religion and getting an education.

Budgeting: Portion of allowance for savings, charity, spending.

Set a goal to reach by the time you are a certain age. Like saving $1,000 before you are ten. Then save, save, save. I reached by goal 2 years early.

There is abundance in the world - this goes for love, friendship, peace, as well as material abundance. When you find your contribution in this world, which is your life's work, the money you need will follow you and find you. Don't just work for money, no need to struggle since there is not a finite supply of anything in this universe.

Prompting our kids to make good grades is very important. We sometimes give them money after making straight a's. We send one of our children to the Summer Institute for the Gifted each summer to enrich her knowledge of the world.

We teach our kids to invest their money in companies they like - Tommy Hilfiger, Fila, Chap. These are the things they like. We teach them that instead of spending all their money on merchandise from these companies, become an investor in these companies while they are hot and make money on their stock.

Kids should make sure that they want what they are buying before buying it. You can only spend money once. Set yourself goals and when you achieve your goals you feel a whole lot happier. Your parents will admire you more for it!!!! Look after yourselves and beware of strange people!!!!

Every time you spend $1.00, may sure you get $3.00 back. Oh, Yea! Always Do The Right Thing.

Always put God first so tithe 10% and save 10% and budget every thing and try to have a certain amount of money in the bank depending on their age.

I think we should get in the habit of saving money, because in the future we'll be paying bills, not buying toys.

It's important to start saving at a young age so when the time comes that you need your money it will be there - you never know how much college may cost 20 years from now.

Always offer to pay your share. Whenever you're going somewhere with friends, always offer to pay your share (or more) of the gasoline, parking, food or entertainment.

As a kid myself, I do see the parents side and I think that kids should have to save 50% of their spending money.

We encourage our children to invest in their own enterprises and experience the economic world firsthand.

We do not give our kids allowances. Instead, we provide opportunities for them to work to earn money. Then we teach them to tithe 10%, save 10%, and to enjoy spending the rest on themselves and their friends.

Approach money discussions and decisions in a business-like manner. Realize money tends to be an emotional issue and try to minimize that tendency.

Borrow only to invest - in such things as a home or a business. The anticipated return should always exceed the cost of funds. If it doesn't, you may want to reconsider your plan to borrow.

On a day-to-day basis, spend no more money than you make or otherwise have available.

Save for college. It doesn't seem like something that would happen soon, but when the time comes, you'll be surprised how much it actually will cost you. Save a bit every month early on, and it will pay off in the long run.

Sometimes the ending results of hard work is not always in a monetary way. We teach our children that money received, should it be by gift or payment for work, has equal value to love, family commitment, friendships, etc. Therefore, we teach them that money needs to be balanced between enjoyment, necessities, and future goals.

Money is energy invested - how do you want to vote with your money? How can you spend it the most locally and the most responsibly to improve the world? (i.e., spend at a locally-owned store instead of a national chain, buy organic, buy from a local farmer...)

Money does not spoil. You can always find a use for it in the future. Don't spend it just because you have it because there will be many times when you will need it unexpectedly. People should not expose their wealth. Your finance is your business and no one else's.

We teach our kids that work is how you earn money. When you have the money, spend some, save some, give some and invest some. The percentages of each depends on their ages. Each age has different needs. The younger they are the more they need to save to finance their expenses at their older ages. The older they are, the more money they'll need...

We teach our children that all the money we have comes from the Lord. We also teach them to tithe on their income. They also work for every cent they receive. We don't give them pocket money. We teach them the importance of a budget as in the slices from a cake. People are more important than money.

Now it's your turn. What principle(s) do you feel are important?


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