Developing Financial Skills This past week, many parents sent their nearly-grown children off to college. I expect it was with some trepidation that moms and dads said their good-byes. They many have also been experiencing anxiety as they helped their child ren write checks for textbooks, meal plans, a first refrigerator full of groceries and a closet full of personal supplies. At some point, the torch of financial responsiblity is passed from parent to child. This can be an uncertain time for both parties. But as a parent, you can prepare your children throughout their lives to assume financial tasks. And you can provide structure and guidance as they develop the necessary discipline and organiza tion skills to handle money and banking decisions well. Dorothy Rich, author of “McgaSldlls," suggests the fol lowing ideas as experiences that begin to build a foundation of financial skills. Even with child ren as young as preschoolers you can begin teaching money lessons. When they play store, give them paper money and empty food con- | THREE SIZES AVAILABLE TO MEET I ALL YOUR CATTLE HANDLING NEEDS 1 EXTRA HEAVY CONSTRUCTION FEATURES iU *1.9” O.D. High Yield Tube Top & Bottom Frame m * 1" structural pipe on verticals & locks I * All yokes lock on individual catches, no strain on control rod I * Yoke stabilizer on large sizes I * Unique design allows more head room * Neck bar can be removed or adjusted without tools * individual lock on each yoke for holding one or more gfij animals | *No loose pins, or parts tojjeyosUrnTian^ I PAUL B. ZIMMERMAN, INC. m Call or Write For Hours 295 Woodcomer Rd. 1 Additional Information Mon. Thru Frl. LltltZ, PA 17543-9165 | And Your 7(0 5 1 Mile West of Ephrata i Nearast Dealar Sat 7 to 11 717-738-7365 (H ' tainers. Mark the containers with realistic prices. You can even help them to look through grocery store As and talk with them about what’s on sale this week. That can be part of their “play” time. With older children, make sure they have enough money (even if it is play) to pay for the items in their basket An older child can be a helper following a real trip to the grocery store. Ask him to check off the items on the receipt as you pul them away in the cupboard. He calls off the price and makes sure that everything on the grocery list was purchased. Did you pay more for any items than you had real ized? If your child helps you to make a more economical decision, salute him by posting the savings announcement in a prominent spot on the refrigerator. “This week, Stephen found a loaf of bread on sale. This saved us 400.” When you prepare to pay your monthly bills, make the task into a game for your elementary school aged child. On the left-hand mar gin of a paper, write a list of household bills groceries, elec trity, mortgage/rent, telephone, fees for music lessons or sports groups, garbage removal, etc. Then cm the right-hand side, write the amount owed dial month. Fold the- paper in half and ask your child to guess how much each bill/ household expense is. Then check the results. You can cany this activity further by adding all the expenses and subtracting from your income. Educators have observed that it does little good to recall your own childhood days and how you “did without.” What is helpful is to demonstrate the current financial pressures and choices that you make. Each time your child sees a part of your family’s financial responsiblities, she will under stand more clearly die limits on your money. These activities help build skills slowly so children are prepared for financial independence. How ever, if you are concerned that your college students have not yet perfected the art of responsible money management, it may be wise to be quite strict relative to credit. Credit card companies target college students. They give away free items in student unions and coax students to sign-up with litde/no verification of ability to pay. Why? College students demonstrate a love for discretion ary spending. And history has shown that when students default, parents step in and rescue! Few parents are willing to allow their children the pain of a scarred cre dit history at such a young age. These two factors mean that credit card companies can make lots of money. Parents use caution when your college student requests use of your credit card or asks your to co sign for a loan or a card. Instead, explore the possibility of obtain ing a secured bank card. These • Agricultural • Commercial • Residential cards are backed by a student’s savings iij * bank, and the institu-, tion will not okay purchases bey ond the dollar amount in the account Another alternative is to make an agreement that parents will deposit a set amount in a banking account each month. This account can be accessed by an automatic teller cud. Yon and your child should discuss what the funds will cover.'Then, when the mbney is gone, it’s gone for the month! Don’t rescue your child. It is far better for a college student to learn planning lessons now than to wait On July 10, grooming and showmanship winners were announced. In the junior western grooming and showmanship division, win ners were Lea Moorehead of Oxford, McKenzie Kumpf of West Grove, and Dolly Coldiron of Oxford. Rebecca Bristow of Cochran ville and Shari Spcakman from West Grove won in the senior western grooming and showman ship class. In junior english grooming and showmanship, winners were Meg Shortlidge of West Grove; Carly White of Hockessin, Del.; Jessica Farrell of New London; Even Toto of Cochranville; Tiffany Haegele of Oxford; and Leigh Aldridge of Landenbeig. In the senior english grooming and showmanship division, win ners were Jessica Moore of Coatesville, Lauren Daggett of Rectangular 8 Ft. Deep Manure Storage Featuring Two Tractor Guards • Retaining Walls • Bunker Silos • Manure Storage, Etc. * * * -V »• ' INC. 430 Concrete Ave., Leola, PA 717-656-2016 Lane—ter Firming, Saturday, Aufluaf24. fMfrtiS ' Gum Tree 4-H until they have a family or home and realize that they have not yet learned to prioritize their spend ing. Each of these actions and dicus sions takes time. Weigh the investment and choose to act today. Rebecca Escort is a Home Eco nomist with Penn State Coopera tive Extension in Lehigh County. Cooperative Extension provides practical information designed to improve the quality of life for loc al residents. We work in partner ship with Penn State and county government Oxford, and Lauren Annett of Newark, Del. Just Kiddin Around Pygmy Goat Club Following are the resultsof the recent 4-H Fair Showmanship Novice Lavs): 1. Erica Aukar; 2. Katie Lay os; 3. Adis Layos. Junior Laval; 1. Mallnda Sonar; 2. Sta phania Landis; 3. Sara GraybiH. Ssnior Laval: 1. Mchaal Sonar; 2. Kkn Landis; 3. Kristina Sansanlg. Rasanra Champion; Malinda Sonar. Champion; Mlchaal Sonar. BrMd ditm Wethsrs: 1. Mark GraybiH; 2. Erica Aukar; 3. Allie Layos. Junior Doe Dos Kids, B months and undar: 1. Erica Aukar; 2. Sarah GraybiH; 3. Katia Layos. Does, 7 months O 12 months, naver frsshenad: 1. Monica Gsorgo; 2. Malinda sonar; 3. Kim Landis. Rasarva Junior Champion Doe; Malinda Sonar. Junior Champion Doe: Monica Gaorga. Senior Does Does, 1 o 3 years old: 1. Kim Landis; 2. Jason Landis; 3. Michael Stoner. Does, 4 years and older: Kim Landis. Reserve Senior Champion Doe: Kim Landis. Senior Champion Doe; Kim Landis. Reserve Champion Doe: Monica George. Grand Champion Doe; Kim Landis. **" >r ' "• ~ ». • ; . v '^f > «'\<p •. ■V-'* »V
Significant historical Pennsylvania newspapers