Kids Can Learn to Control Their Lives by Controlling Their Money Dropout-to-Millionaire Offers Tips for Raising Take Charge Children

As a teenager, Trevor Bolin was a drug-abusing high school dropout who weighed in at more than 300 pounds. He supplemented his meager income pumping gas by hauling possessions to the pawn shop, where he picked up just enough money for hot dogs and Kraft mac and cheese.

By 17, Bolin decided he’d had enough. He came up with a plan, and within two years, he’d quit drugs, lost more than 100 pounds, and was close to paying off $85,000 in debt.

By 28, he earned his first $1 million in one year.

And he did it simply by coming up with a plan and putting the plan in motion.

“My life has nothing to do with luck, good or bad,” Bolin, 32, writes in his new book, Take Charge and Change Your Life Today (www.bolininternational.com). “It revolves around working hard, giving back as much as (if not more than) I get, accepting that attitude is everything, and being grateful for what I have.”

He wishes he had learned those lessons long before he became an unhappy teenager with a seemingly hopeless future.

While many parents teach their children the basics of fiscal responsibility by giving them an allowance, Bolin says his experience offers less obvious but equally important lessons. Children need to have a healthy attitude toward money, not only to avoid making choices that make them unhappy, but to allow them a life path that they control.

“I learned my lessons the hard way,” he says. “You can start now to make sure your children never reach the bottom that I hit.”

These are some places to start:

• Avoid making negative comments about money: Sayings like “money is the root of all evil” and “a fool and his money are soon parted” are negative and therefore not helpful. Make a commitment, starting today, not to use those phrases. Imagine what a child believes about money if that’s what they hear all the time? 
Money is a great thing -- when you know what to do with it and when you control it rather than allowing it to control you.

• Help children recognize the financial lessons they learn from experience: Say you warned your child he should set aside some of Grandma’s birthday money, but he spent it all on impulse. When he’s disappointed later because he can’t buy something he wants, remind him why he can’t. Tell him that feeling disappointed is a small price to pay for a valuable lesson. And won’t it be much easier if he learns the lesson after just one sad experience? 

• Pay yourself first:If your child receives a weekly allowance, he or she should immediately put 10 to 15 percent into a savings account that won’t be touched. Or set a milestone for when money from the account can be used, such as the child’s 18th birthday. By then, she’ll be so accustomed to saving, she probably won’t tap the account even when she can. 

• Help your child set goals: Setting financial goals, noting progress toward achieving them, and enjoying the satisfaction of crossing them off the list are fiscally sound lessons and a good way to nurture healthy attitudes in general. Your child might set goals for the month ($10 to go to the movies), goals for the year (save $200 for a Wii system) and goals for the future ($375 a year for the next eight years for a car when I’m 16.)

“Goals are the first step in achieving what you desire in this world,” Bolin says.

“You can create success in any aspect of life – not just money – as long as you’re putting a plan in motion.”

About Trevor Bolin

Trevor Bolin owns three realty companies in British Columbia, including one in his hometown of Fort St. John, which was named the No. 1 RE/MAX small-density office in the world. He’s also chairman of Bolin & Co. International Training, which offers coaching and seminars for business people. He has served three terms on the Fort St. John City Council.


New- Time and Money Saver

Launching this month - Build A Menu (www.BuildAMenu.com) is an online menu planning service that prepares weekly meal plans based on grocery store sales. The site does the work for you! Choose from weekly recipes and put together weekly menus using the Build A Menu calculator which gives a running total of your expected grocery costs – making it easy to control how much the family will spend on food each week! Just pick the store you want to shop, choose your meals and print your well organized grocery shopping list and chosen recipes.

Lindsay Olives Gears Up for Holiday Giving Program, Pledges $3,000 Donation

Lindsay Olives will launch a holiday giving program and contest November 1 called Lindsay’s Santa Cause. The purpose of this holiday program is to get families, youth groups, schools and churches involved in the spirit of charitable giving. Lindsay Olives will donate a $3,000 prize to the winning class, youth group or sports team, to name a few.
 


“We at Lindsay are committed to promoting peace, prosperity and giving during the holiday season,” said Jennifer Fuchs, consumer marketing manager at Lindsay Olives. “There are so many people in need in these difficult economic times, especially during the holidays. Santa Cause is a wonderful way to help food banks and involve kids and parents in the spirit of giving, which leaves a lasting impression all year long.”


According to news sources, 40% of federal funds have been cut from food programs across the country this year (food banks, soup kitchens and food pantries). Food banks are in dire need this year, and Lindsay is hoping to help.


The Santa Cause program is comprised of two elements. The first is a canned food drive where Lindsay Olives will invite youth groups nationwide to collect canned goods for their local food banks. Participating classes and groups will compete to win a $3,000 grand prize for the group that donates the highest percentage of cans. 
 
The second component is a Buy One, Give One effort, which will allow members of the community to help food banks, even if they are not part of a youth group, team or class. For each can of Lindsay Olives that a customer purchases from November 1-December 31, 2011, Lindsay Olives will donate a can to a food bank. Lindsay Olives will match customer purchases up to 25,000 cans.
 


Santa Cause Details
Participants in the canned food drive contest will be entering to win $3,000 to be used for the group purchase of equipment, supplies or to fund a program, which is Lindsay’s way of giving back to the community. Students can begin collecting cans November 1 and must deliver all collected cans to a food bank of their choice by December 20. 
 
“We know that many schools and organizations are also in need this year, and we hope this $3,000 donation will benefit the kids and the programs they are a part of,” said Fuchs.
 


To be eligible for the contest, groups can enter at www.LindsayOlives.com/holiday beginning November 1. All groups must enter online by December 31. Groups can consist of 45 members or less. Each group should collect a receipt from the food bank where they donate their canned goods and email, fax or mail it to Lindsay Olives for verification of the donation.


Buy One, Give One Details
Lindsay Olives is also holding a Buy One, Give One program so that those who make purchases can also give back to food banks. For each can of Lindsay Olives purchased, the company will donate a can to one of several food banks around the country. Lindsay Olives asks that purchasers for the Buy One, Give One program visit www.LindsayOlives.com/holiday and enter the UPC code from their can or cans of olives. This will ensure that Lindsay tracks their purchase and matches their purchase with a donation. 


As a company, Lindsay Olives values the idea of giving and sustaining life, which is symbolic of the olive branch. This idea inspired Lindsay Olives to launch the canned food drive contest.
 
Supporting Resources
For more information and official rules, visit www.LindsayOlives.com/holiday

8 Tips to Avoid Drowning in Deals

Tough financial times call for smarter shopping measures. For some of us this means going to extremes and cutting up credit cards. For others, it just means clipping coupons and unplugging appliances.

No matter what your money-saving solution, merchants are catching on to these smart shopping tactics. Stores are constantly developing their own methods to make sure we keep buying. Many times, this comes in the form of a sale that looks great on the surface, but actually ends up saving next to nothing.

In fact, recent studies suggest that plenty of shoppers are overwhelmed with the flood of daily deals they receive. With so many special offers flying around, here are eight tips to help you avoid drowning in deals.

1. Unsubscribe from Newsletters
Signing up for email newsletters from favorite merchants will keep you informed about their special offers. However, these mailings are still promotional materials intended to make you spend money. If you find yourself exasperated by the breadth of deals and discounts, try following stores on Facebook and Twitter. You still get access to promotions, but they're not always being waved in your face. Instead, you can access the information only when you want to see it.

2. Set a Time to Review Deals
The urgency to get a bargain before time runs out can be a distraction. When you find yourself getting sidetracked checking each offer as it comes in, set aside a time where you can review them all at once. Sure, you might miss the occasional Groupon, but at the end of the day it's cash that's still in your pocket. Reviewing deals all at the same time lets you think out purchases more clearly, compare offers side by side, and prioritize those that best meet your needs.

3. Technology is Your Friend
Your smartphone is a surprising savings tool. Some apps like GasBuddy can help you track down the lowest gas prices, no matter where you are. The Coupon Sherpa mobile app lets you locate and scan coupons directly from your phone. Using your cell in this way allows you to find special offers specific to your shopping needs.

4. Weigh Credit Card Options
Cashiers frequently encourage you to open a store credit card, promising healthy savings if you do. While there may be a good initial offer or incentive, like a regular discount on all purchases, this is another tactic to keep you spending. It's best to just have one of these cards specifically for expenses like gas and food. You'll have to spend on those needs either way, so you might as well get a discount. At NerdWallet.com, they have a comparison of the top 18 store credit cards to help you make an informed decision.

5. Track Your Deals
Ah, the agony of a missed expiration date for a voucher. It gets in your head and makes you regret dollars down the drain. To avoid getting mixed up and missing deadlines, keep a calendar of when offers expire. This helps you track the good ones and keep an eye on how your spending matches up with your budget. You can even do it digitally at CityPockets.com. They organize all the deals you've already purchased, send you expiration reminders, and even allow you to sell unused deals.

6. Eating Out is a Trap
Restaurants are filled with drink specials and dollar menus to encourage buying. While a double cheeseburger and fries from McDonald's costs just over $2, the nutritional value is low and you'll soon be hungry again. It's surprising how much you can save buying groceries and making meals at home, instead of eating fast food. If your culinary muse has failed to inspire you, AllRecipes.com has plenty of Quick and Easy Recipes to consider.

7. Use Coupon Sites
Despite the sufferings of deal-of-the-day sites, coupon sites continue to grow, making it a good thing for shoppers. Sites like CouponSherpa.com have coupons organized by product category and retailer name, so finding a good discount is easy. The best part is, their services are offered for free; credit card information and personal details aren't required. The savings are there at your leisure with no strings attached.

8. Price Comparisons
Seeing a deal with numbers like 50-percent off can lead to an itchy mouse-clicking finger. Resist the urge to act now and shop around a little instead. Often, similar retailers are aware of their competitors' deals and will offer something comparable. Also, try to shop at stores with low-price guarantees. This way, if you find a better deal after you buy, you can still get reimbursed for the difference.

This article was written by Andrea Woroch. Woroch is a consumer and money-saving expert for Kinoli Inc. She is available for in-studio, satelite or skype interviews and to write guest posts or articles. view recent interviews or for more savings tips visit AndreaWoroch.com or follow her on Facebook and Twitter.

Money Doesn't Grow on Trees

“Money doesn’t grow on trees.” This saying may seem obvious, although today’s youth seem to think the opposite. Who can blame them though – unlike the baby boomers the new generation of youth have grown up in a time of economic prosperity and are used to being coddled by their parents. In 2011 alone, over 85 percent of college graduates will be moving back home (Huffington Post).

Recently, the recent economic situation has shown us that anything can happen at any given moment and we (and our children) need to be prepared. Though it may not be possible to teach a pre-schooler the complexities behind 401Ks and credit cards, it is possible to start teaching children the importance of money at an early age. Chicago Healers Practitioner Julie Murphy Casserly (CLU, ChFC, CFP) stresses the importance of instilling good money habits in children as early as possible and offers easy conversation topics to address the issue at every age.

· Pre-School
Yes, money patterns begin to formulate during the pre-school years. You can start talking to your child about money when they are 2 or 3 by explaining that everything costs money – from the food they eat, the clothes they wear, to the house they live in. These talks need to go beyond the necessities too. Explain that new toys, accessories or video games are things your family can live without. Introduce new toys to them a few at a time, rather than showering them with an over-abundance of playthings. This will help them get used to the fact that they don’t need a heap of toys to be happy.

· School-Aged
By the time your child is 6 or 7 years old you can start teaching them about prioritizing their money. For example, when you are at the toy store, instead of letting them pick anything off the shelf, try giving your child five dollars and letting them choose something that fits within this price tag. For parents who buy their children anything and everything, the child will expect this treatment later on in life, giving them a sense of entitlement. Ask yourself, is this the reality I want for my child 15 years from now?

This is also the point in time to show your child that money is the result of hard work. Work out a plan with a family friend or neighbor where your child will do housework or yard work for $5-$10 cash. Then give them the power to choose how they want to spend or save their hard-earned money.

· High School
At this time, it is critical to create a financial collaboration with your son or daughter. Encourage them to get a part-time job to help pay for their car insurance, their gas or portions of the monthly car payment. Children should be held accountable for sharing some of these costs with their parents. Once they get that paycheck, establish guidelines on how it should be dispersed — 1/3 goes towards that car payment, 1/3 goes towards their future college fund and 1/3 can be spent on whatever they choose.

During this age, it’s also important to highlight the importance of living a quality of life, rather than the quality of things that you own. Help your children understand that material things like a brand new car when they turn 16, are often a source of immediate happiness, but sooner or later, this happiness fades and they will be left searching for deeper self-fulfillment.

· College
Your child is an adult now. Have an adult conversation with them about their finances and make sure they understand how credit works. Tell them about your experiences with credit card use – the good, bad and the ugly. Once kids are on their own, temptations will always arise and children in this age bracket will more than likely consider opening a credit card to fund some of these temptations. Explain how credit cards can bring a false sense of financial reality. They make us less conscious of where our money is flowing and how much we are spending. Talk about how the constant struggle to earn cash to pay off debt can take a physical and emotional toll.