"Here it is two-thirds of the way through September and this nut job is finally writing about how much her kids were worth at the end of August. What kind of a blogger is she really..."
One word... TEN!!!
That's the total number of consecutive days that my kids were home from school until Monday of this week. Thanks Hurricane IRMA!! You really put a cramp in my blogging style. Oh well, the kids and I had fun together... minimizing and organizing their rooms, hiking, biking, painting rocks, and generally any "no internet needed" activities (because I had no internet)!
Back to the regularly scheduled updates...
Oh wait...this is the very first net worth update for my kids!! So exciting!
While other moms are making jello and tu-tu's for their kids, I'm busy creating custom spreadsheets and bar graphs for them. They are either really lucky... or not lucky at all.
For a long time the kids have had 2 separate jars for their money. One for saving. One for spending.
At the end of July we moved their savings money into our Vanguard taxable investment account. We'll track the growth of their doll-hairs separately from our own in one of my not-really-all-that-fancy spreadsheets.
We made the change from jars to banking so that they could begin to experience the joys (and not-joys) of investing!
After August was done, I updated their spreadsheets and charts. I printed them out and we sat together and talked about them!
This exercise in tracking net worth has the added benefit of being able to teach the kids how to interpret data presented in various ways. When I gave them these charts I let them have some time to look before we started talking. When our conversation started, I asked them lots of questions (rather that telling them what to think). For example:
- Do you see where is says August... and September?
- How can we figure out what the different colors mean? What do we call that part of the chart?
- Why are the orange and blue bars stacked on top of each other?
- What do you notice about the sizes of the bars and how they changed?
- If you had to round your net worth to the nearest $10, what would it be?
- (We did mention that their investments both earned a few pennies but didn't get too deep with this topic for their first net worth review).
They loved seeing their money this way and I'm so excited to continue this conversation with them on a regular basis!