Savings Plans & Kids (When To Start)

To a child there is no better sound than a coin dropping in the slot of their piggy bank and hitting the coins below.  As you watch your child drop the coins in their favorite piggy bank just look into their eyes and you can’t help but see joy within them.  As children get older they tend to enjoy the look and feel of dollar bills over change.

No matter what age your child is, no matter if they receive bills or coins; they learn early that money brings a certain joy to them, even for a short time.  As your kids take money and drop it in their bank they are learning the basis of money and how to save it.  This is the start of their savings plan.  This is an important step in getting your children on the right track financially.

So when is a good time to get children started on a savings plan?  There is no perfect answer but for the average child the age of 3 is a great age.  Some will pick it up a little sooner and for some it will take a little longer, don’t rush it, and allow it to happen naturally.

There are many ways to start kids out on a savings plan here are a few ideas to get your creative financial juices flowing:

*Take your child to the store and allow them to pick out the piggy bank they like.  If they like the bank they will be more interested to put money in it.

*Teach your children the amount of each coin (1 cent, 5 cents, 10 cents, 25 cents).  Use real money not plastic or fake coins.  They will be using real money so teach them with real money.

*Try to use newer / shiny coins; children are more attracted to them over older more dull coins

*Make a game out of it.  Kids love games and playing so make it fun and exciting.  Have them count the number of coins they drop in their savings bank.

*As they are getting ready to drop a coin in the bank ask them how much money is that coin worth.

*Buy a few items from the store that cost 1, 5, 10 and 25 cents (I know there really are not a lot of them).  What they are is less important than the size of them.  Show your child how much each one costs.

As I said earlier there are many things you can do to teach your child about money and savings.  No matter what method or game you play with them take your time and make it fun for them.  Remember you are starting them off on a journey that will never end.  Make it fun, make it memorable and most important enjoy the time with your children.

Strategy Based Profits TIP: – When teaching your children about money keep it fun for the both of you!

Robert J. Roy
Money Man

World Economic Outlook As Of April 2010

According to a report released in April 2010 by the International Monetary Fund here are some global considerations and expectations.

The recovery is stronger than expected but the speed of the recovery will vary
Financial conditions are easing in some sectors

Capital is flowing into emerging economies
Inflation pressures have lessened but they may still rear their ugly head
The global demand is leveling out and we are starting to see a rebalancing taking place

These are wonderful facts to know but how does this help us with our money?  How will knowing this help us with our money?

The direct effect will not be easily seen over the next few weeks but the recovery is certainly noticeable.  Just walk into any supermarket and look at what is loaded in someone’s wagon and you will see that people are spending money on items that for a while they were holding back from.  As an example consumers were only spending money on items that they had to have in an effort to preserve cash.

It is no different in a department store, a car dealership, a furniture store, etc. people are starting to spend money.  The difference this time is that two years ago the average consumer was very comfortable; they were on top of the world, never expecting the economy to do what it did.

Go back five years ago if you had told someone that the real estate market was going to lose 10%, 20%, 30% even 50% from the highs and people would have thought you were crazy and they would need to have you committed.

Bottom line, things are getting better BUT many economists are waiting for the other shoe to drop.  In the United States the other shoe is the commercial real estate market.  Are they correct?  Will it drop?  I don’t have a magic ball but all roads seem to point to the commercial real estate market weakening but how much is anyone’s guess.

Strategy Based Profits TIP: – Keep saving for that rainy day, it may not be that far away!

Robert J. Roy
Money Man

Quick Cash Online For Kids (Adults Can Play Too)

I hear from parents all the time “My kids are always looking for money” or “How can I get my kids to make extra money “?  We all know that children are not cheap to raise.  It takes money and if you have a few kids, it may take lots of money.

It is important to teach children the value of money.  Helping them to understand that money doesn’t grow on trees is an important lesson for them to learn.  So how can parents do that?  How can I show my little Johnny or Mary the value of money?

One thing to do is to show them how they can make money themselves.  I am not talking about taking your 12 year old child and having them get a job at Home Depot.  What I am talking about is having them make money right from the comfort of your home.

The internet has grown exponentially in the last decade.  Who would have ever thought that it could possibly become such an important thing in our society?  With the internet having so much influence over our daily lives and online sales of everything from information to cars to houses to, (well you get the point) teaching your children to take advantage of this now will put them light years ahead of their peers.

One Quick and easy way to do this is to go to and sell books you or your child no longer want or need (you can even sell your old college textbooks).  Selling on Amazon is quick and easy.  Here are a few simple steps for selling your unwanted books

1-      Create an account (It’s free and easy to do)

2-      Create a sellers account (Also free and easy to set up)

3-      Get together the books you want to sell

4-      Research what the same used book is selling for on Amazon (enter book name on

5-      Go into your sellers account

6-      Enter the book name

7-      Enter the book condition (Be VERY accurate here)

8-      Enter your selling price and shipping method

You are done!  Have fun with this, this is not hard stuff and you can make some extra money along the way.

Robert J. Roy
Money Man

To Budget Or Not To Budget (That’s The Question)!

Having a budget has never been more important than today.  Knowing how much money is available and where you intend to spend it is crucial.  We have become a society that loves to spend and for many they do it using credit cards.  The sad thing is that most people have no intention of paying the credit cards off at the end of the month.  Having a budget in place is important to your family’s financial success.

Budgeting can be scary at first.  It sure would be nice if budgeting was taught in school (What a joke)!  For some people they look at budgeting as a restriction being placed on their financial lives.  They feel if they have to budget, life as they know it will be over.  They will have to keep track of what they spend and answer for it.  HOW DARE YOU ASK ME TO DO THAT!

Does this sound familiar, if not that is wonderful.  Welcome to the majority.  If it does sound familiar don’t feel bad, society has not done a good job of giving us the tools to prepare for a good financial life.  The talk of money wasn’t very popular.  Don’t worry they will figure it out, that is what society has done to us.

The good news is that you can break the chains of Financial Prison.  You can learn the proper techniques to budgeting.  Here are a few things that must be in any good budget:

How much income is there in any given month
How much money do you donate or give away each month
Monthly mortgage or rent
Other monthly bills (electric, phone, gas, oil, water, telephone, cell phone, etc)
Monthly food cost
Non standard bills (birthday gifts, doctor’s copayments, new couch, car repairs, etc)
Credit card debt

Some of these items will have to be estimated, just do the best that you can.  I know it may sound like a lot of work up front but just start out slow and you will get through it.

Look for more on budgeting coming out soon.

Robert J. Roy
Money Man

Welcome To Strategy Based Profits

This blog has been a long time coming.  I have been asked by clients across the world to create a method for them to follow me step by step in my teachings.  Allow me to introduce myself my name is Robert J. Roy, I have been helping people with financial issues since 1994.  I have personally worked with tens of thousands of clients from all over the world. 

Money issues seem to haunt so many individuals across all age groups.  No matter what your educational level, where you live or how much money you have there are a host of financial issues to be addressed.

Whether you are 3 or 93+ there are financial strategies that are available to help you.  Having a financial plan in place has never been as important as it is today.  With unemployment as high as it is, the average consumer is in more debt today than ever in history before and today’s children are expected to be the first generation ever to not do as well financially as their parents.

To add insult to injury there are identity thieves that we need to deal with today, unlike past generations.  Today’s children are prime targets for identity thieves.  There are strategies that have been created to make simple work of protecting not only you but your children, grandchildren, nieces, nephews, etc.

I am here to help with just that.  Helping individuals, families, schools and organizations set up a financial plan with attainable goals that allows you to achieve your financial dreams and desires.

So sit back and enjoy the ride.  There is nothing more important than learning how to control your finances.

Robert J. Roy
Money Man

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