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Millionaire Kids Ezine, Issue #018 - How Your 13-Year-Old Can Make Money Online
August 20, 2008

Do You Ever Make These Wild Parenting Mistakes?

I'm not the perfect parent...and if you don't believe me, just ask my kids! They'll tell you Lots of stories on how I make Lots of mistakes.

Every day.

Parenting is like running a marathon. There are lots of dips and curves along the way. And you constantly have to make adjustments and learn new techniques along the journey.

A Painting We Will Do!

As I'm writing this, my dad is on his way over to my house to help me paint my daughter's bedroom. Maybe if I'm lucky...I'll squeeze in painting the bathroom too!

But my dad is on to my sneakiness.

Now, when I ask him to come over to paint, he asks, "How many rooms?" and "Can I get that in writing?"

Up until a year ago...

Everyone Shared a Room

The boys shared a bedroom and the girls shared a bedroom. Even Mom and Dad shared a bedroom!

It's one of the best ways on earth to teach your kids about sharing. And there's no place like home to start the learning, right?!

But somewhere in time though...

Good Parents Decided That Kids Need Their Own Room

Which of course translates into...

Bigger Houses...

Bigger Mortgages...

Bigger Repair bills...

and of course...

Bigger Taxes...

Whatever Happened to Small & Cozy?

And even worse, people convinced themselves that buying a large house is a good "investment", rather than an expense.

Now they're house broke and trapped in these higher fixed costs.

This is a dangerous position to be in...and very stressful. Your quality of life is lowered and your choices are limited.

You'll have less money to...

Save for retirement

Pay for college tuition

Pay down debgt

Or...

Quit, change, or retire from your job down the road.

This way of thinking is happening...

All Across the Suburbs

Do you notice the mini McMansions being built all over the place?

And it doesn't stop with the house.

There's also pressure to keep up with the Joneses' kids. There's even fierce competition for who can throw the most lavish birthday party for their kids.

Renting ponies, carnival rides, cotton candy machines, and mini-donuts is a common scene.

Have you seen the television show about sweet 16 birthday parties? More like "spoiled rotten" birthday parties.

Give me a break!

Some of The Best Things in Life Are FREE

Parents don't seem to realize that setting the bar so high can destroy your child's appreciation for the fact that some of the best things in life are free.

Well, almost!

Like watching a gorgeous sunset...

Taking a walk with your dog...

Or just laughing and having a good time with good friends.

We all want the best for our kids. But does that mean you should put your own financial security on the line?

Many parents start a college 529 plan before their baby is sleeping through the night.

But socking away money for retirement? That gets put on the back burner - behind the "stuff"...and the bigger house.

I cringe when I hear parents proudly say,

"If Suzi gets into Harvard, I'll do whatever it takes - even if it means mortgaging the farm!"

Remember...

Your Kids Can Always Get Student Loans

While NO one will give you a loan for your retirement!

And chances are there will be no such thing as social security - even if it was enough to live on.

Plus, borrowing for college is easy and relatively cheaper than other forms of debt. Especially credit card debt.

Our own kids are expected to pay for the first year and a half of their college tuition. They can use grants, scholarships, advanced placement credits, and student loans to cover the cost.

We'll cover room and board. We want them to think twice before partying away their hard earned college education!

College is a good investment and also "good debt". And they have their whole life to repay the loan.

So be careful not to fall into the trap of ignoring your financial security, "needing" a bigger house, and keeping up with the Joneses' kids with stuff.

You'll be much happier - and so will your kids.

How Your 13-Year-Old Can Make Money Online - Starting in 5 Minutes

Is your 13-year-old looking for ways to make money on the internet?

I'm always on the prowl for ideas for kids to start their own business.

But it takes work and effort to start a business. And sometimes you, the parent, end up doing a lot of the leg work.

So that's why I was so excited when I heard about a website that pays teens (as young as 13 year olds) to fill out surveys, try new products, and even read emails for money.

And it doesn't cost them a penny to join. Or a credit card to sign-up.

It's called Cash Crate and it's one of the best rated and easy to use websites for making money online.

And to make sure - I had my 14 year old son Matthew give it a try. And he made $23.85 in about 2 hours!

Check it out for yourself and let me know what you think! Here's how to get started in less than 5 minutes...

Profitable Investment Idea:

Do you remember the dot.com craze of the early 80's?

Where everyone and their brother was making money like crazy investing in technology companies?

And you probably also remember the crash.

Where everyone and their brother lost their shirt in risky companies.

Well, we're due for a repeat of history.

The average technology bull market lasts an average of two and a half years. And the last one went up 566%!

My trusted financial advisor says, "If you get just one biotgech-stock run in your lifetime, you'll never have to work again...and we could be on the brink of such a run".

Right now, biotech stocks are the cheapest they've been this decade, and the most overlooked by Wall Street as well.

I just bought Powershares Dynamic Biotech and Genome ETF (AMEX: PBE) for my kids investment accounts.

If they're really lucky, maybe they won't have to ever work! Check out the stock price here...

Random Acts of Tithing

Every Tuesday, Maria, my 12-year-old vacuums the hallways of a 24 unit condominium building we own.

She does a great job and makes a whopping $40 dollars a week. And of course half goes into her savings account.

There is a super nice woman who lives in Condo #12. She's only 41 years old and sadly, she's confined to a wheel chair.

I try to stop in and visit with her while I'm waiting for Maria to finish cleaning.

During the summer, she always has a bucket of brandy slushes. Who could resist?!

Do you know of anyone who is handicapped or maybe home bound? If so, pop in and say HI.

Great friends come in all places.

It's Good to Know...Financial Terms For Kids

1) When the stock market goes up for a period of time (plural)

2) A location where investments such as stocks and bonds are bought and sold (plural)

3) 10 cents

Answers: bull run, Wall Street, dime

Cheap Family Fun

Oh, how my husband loves summer!

And any excuse to be a grill master.

Our family loves to eat - and eat well. But with 6 of us, it's costs a small fortune to go out to dinner.

That's why we do a lot of barbequing during the warm, summer days.

Here's a new recipe we tried that everyone thought was the best ever:

Barbequed short ribs:

Cover a layer of short ribs with beer and bring to a boil.

Then cover and let simmer for at least an hour and a half.

Mix a bottle of your favorite barbeque sauce with a dollop (TBS) of whipped horseradish sauce.

When grill is ready, drench the par-boiled short ribs in warm barbeque sauce and carefully put on grill.

Grill until crispy while brushing the barbeque sauce on each side.

Make sure to make extra sauce for eating and dipping!

Enjoy the spicy, sticky ribs with corn-on-the-cob, and fresh basil tomatoes...

This dinner is sure to please even the fussiest eater in your family!

So until next month...

Happy parenting!

Best,

Sonja Mishek

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