Money-Smart Monday

with John Lanza

Hello, friends,

This week I'm sharing one practical tactic from each allowance stage—Starters, Builders and Launchers—from my recent talk on raising money-smart kids.

Starters (Ages 4–8): Saving for Goals

Saving for goals is one of the three core money-smart skills I highlight in The Art of Allowance.

When you shift money control from you to your children, conversations become easier. The next time they get a case of the "I want its!" at Target or on Amazon, you can ask: "Do you have enough money for it?"

You may get a grumpy face (or a full-fledged meltdown). But once kids realize the money "free flow" has stopped, you can help them set SMART goals to get what they want. Here's how​.

Builders (Ages 9–12): Adspotting

Think of adspotting as birdwatching. But instead of searching for cardinals and blue jays, your kids are identifying sneaker commercials and cereal jingles.

As Erin McNeill of Media Literacy Now told me on The Art of Allowance Podcast, kids actually love discovering how ads can manipulate them. And once they understand how commercials work, suddenly every YouTube pre-roll becomes a teaching moment.

Want a tool to kickstart media literacy with your Starters? Check out Joe the Monkey and Friends Learn About Spending Smart, one of the picture books in my "Share & Save & Spend Smart" series.

Launchers (Ages 13+): Food Freedom & Fee Traps

Allowance can help teens manage "food freedom."

As your kids' allowances increase, assign them a food budget. Home meals are covered, but they foot the bill for outings with friends. This guideline teaches them to navigate a $7.50 cappuccino world without overspending.

Pro tip: Let teens make their own school lunches and pay for cafeteria meals from their food budget—a trick I first read about in podcast guest Ron Lieber's The Opposite of Spoiled.

And here's a note of caution on delivery apps. Just as fees are the enemies of investors, delivery charges are the enemies of means-living.

A Quote to Ponder

More Ideas I Found Interesting

➡️ ​Pit​: A family favorite (but not for the faint of heart) ​
➡️ ​A back-to-school budgeting spreadsheet​ from podcast guest Bill Dwight​
➡️ Podcast guest Kevin Kelly's advice on ​self-publishing​

Until next week, enjoy the journey!

John,
Your Chief Mammal

📗 Get The Art of Allowance (for parents)​
📚 Get the "Share & Save & Spend Smart" series (for kids)​
🫱🏻‍🫲🏽 Become a partner or book me to speak (for businesses)

P.S. Please consult with a financial or investment professional before making any decisions that might affect your financial well-being.

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