"Helicopter Parent" is a term used to describe parents who constantly monitor their children's actions and decisions. Similarly, "Bulldozer Parent" is a parenting style where parents actively remove obstacles from their child's path, which can hinder their independence and ability to cope with adversity. This can apply to grandparenting, too. However, have you ever heard of “Hands-In-Your-Pockets” Grandparenting? We coined this term to remind grandparents that you shouldn’t give cash to your grandchildren without meaning or purpose. Instead, keep your hands in your pockets and see what lessons can be taught to the rising generation.

As grandparents, we cherish the moments we spend with our grandchildren. It's a time to impart wisdom, share stories, and, yes, teach important life lessons. Among these, one of the most valuable lessons we can pass on is about financial capital – the money stuff that shapes their future. In this blog, we'll explore why teaching kids about money is vital from a grandparent's perspective and offer practical tips for helping them understand its significance.

Can you count change without using a computer cash register? If so, you may want to read this…NOW.

My sisters and I learned how to make change even before we were tall enough to reach the cash register at our family’s store. We remember our great aunt counting the money the store took in that day. We would be watching the Wonderful World Of Color while she sat at the table.

So, what is a “Family Economy?” It is learning about earning, saving, spending, and giving money with the safety of making mistakes within the family unit and making it very clear that money is something you must EARN. With that definition, why would you give an allowance? Isn’t that free money? Maybe.

How did you use your allowance?

My hard-earned, coveted money wasn't easy to part with. Still, when I was 13, I took my allowance and went to the 5&10 store and bought a pair of knitting needles, a skein of yarn, and a pamphlet on how to knit, and I dove in. The first two projects in the booklet were 1) a headband (to learn the knit stitch) and 2) a triangular headscarf (to learn how to add and subtract stitches as well as use the purl stitch.

Growing up, my parents taught their five daughters a lot about money. Since we worked in a family business, we were surrounded by bills and coins. My aunt would iron the crinkly bills to keep things in order and not even think about having them face in different directions, a big no-no. We would neatly and accurately count the piles of bills sorting them by ones, fives, tens, and twenties. Honesty and Integrity were a given. Although it might be tempting to pocket a few loose bills, we never did.

I'm about to enter the next and best chapter in my life, and I am ready for it. My life, and yours, have a beginning, a middle, and an end. Don't close your book early. When I feel stuck, I pause and reflect on where I am today and how far I have come. Then I take the next step toward what I desire for my life. I have many pages of my book to write; with all of my life experiences, I will use each lesson to create a new chapter.

Fiscal responsibility is something that needs to be taught at an early age.  Parents should intentionally educate their children to be money-aware.  It will not be a lesson in their school and is definitely not an example set by our government.  Parents need to demonstrate that money does not grow on trees by talking about earning money through allowances and eventually jobs.  I started working in our family business as soon as I could walk.  I would get ten cents for restocking the candy display.  Eventually, I worked up to organizing and ordering the merchandise.  However, the big honor was creating fantastic Easter baskets considering the cost of what was inside for reasonable pricing.  Business families, unfortunately, get into the rut of children thinking that life is like a cookie jar they can reach into any time they need money.  It starts with a cookie but evolves into high expectations of having everything paid for them.