3 Money Rules your kids must know before leaving for college

April 15, 2017

Sending our kids off to college is a monumental step, for both parent and child. Freedom, independence and discovering who they are, are all part of the college experience. With this huge step comes added responsibility, with the hopes that we have equipped them with the life skills necessary to succeed.

One of the most important life skills we need to teach our kids is how to be smart with money. I’m not suggesting that money buys happiness, but I am saying that not having money can create heartache and stress, neither of which we want our children to experience.

So, how do we set up our kids for financial success? First, get comfortable yourself with money.

There are many topics to cover around money, all of which are important. Here are three you must share with your kids before they head off to college. In the interest of keeping within my allotted word count, I’ll keep the details short, but this will get you headed in the right direction.

Rule 1: How to properly use a credit card: Credit card debt can wreak havoc on their life, so it’s imperative they understand how to use one properly. Using a credit card can help build credit, which will improve one’s FICO score, so I do suggest they use it. BUT, and here’s the huge but, they must pay off that card in full every single month. I suggest they buy gas or groceries with the credit card, then pay in full. Show them what happens when they don’t pay the balance off and they incur interest charges. There are many online calculators that you can use to show them how much an item actually costs if they pay only the minimum balance. Now is the time they create the money habits that will make, or break, their credit history, so teach them as soon as they get a credit card. They should never purchase anything on credit they won’t be able to pay in full when the bill arrives. The only exception would be an emergency, such as replacing a flat tire or putting food on the table…and I’m not talking beer and pizza.

Rule 2: The Power of Savings: This is where the wealth begins- understanding how to save and the discipline to do it consistently. Just as the interest on a credit card can compound and create a downward spiral, the compounding interest on an investment/savings account can spiral sky high. When I show examples of how compounding interest works, I always, and I mean always, get a look of shock and amazement. Then I’m asked, “where do I start?” Again, check out the online calculators for “compounding interest.” Make the savings automatic, every month. They are blessed with the gift of time- start them saving early and watch their wealth grow!

Rules 3: Find a cause greater than yourself and give back: Being wealthy for the sake of being wealthy is a shallow existence. There are countless millionaires who are miserable. Be an example to your kids and find a cause and donate. Giving is, by far, a greater reward for the giver than the recipient. Teach them to open their wallets, which in turn will open their hearts.

Listen in for money tips!

February 10, 2017

Tori is live with Patti Handy discussing her new book "Money R…

Tori is live with Patti Handy discussing her new book "Money Rules 101" – KHTS AM 1220

Posted by KHTS AM 1220 on Wednesday, February 8, 2017

Money Rules 101 Book Launch!

January 29, 2017

Kids and Entrepreneurship!

January 22, 2017

Do your kids show an interest in entrepreneurship? Are they creative in their thoughts when it comes to making money or serving the world? Let’s feed this and inspire them!

If our kids realize the endless opportunities that are available to them, I’m convinced they will do greater in life. Not just financially, but emotionally. Limiting beliefs are part of our everyday life, regardless of age. The sooner they/we release these beliefs and understand they can dream big, the better!

So, how do we as parents inspire them?

Begin by opening their minds to the endless opportunities and discuss how our limiting beliefs hold us back. Give them permission to think and dream big, without judgment.

Let them know that big dreams require perseverance, the right mindset, skills, and the ability to ignore the negative noise around them. Encourage them to read, read and read. It’s a proven fact that reading has a direct correlation to financial wealth! (Did you know that Warren Buffet spends 80% of his day reading and when he started his investing career, he would read 1000 pages a day!?)

Start by brainstorming with your kids, regardless of age. Don’t judge, just let them think and speak out loud. Have them write down their current skills and talents. What do they enjoy? Let the creative juices flow.

How can they utilize those skills and talents to generate income?

Feed this process with conversations, preferably on a regular basis. Let them know you support them and you are proud of their boldness. Equally important, let them know that failure is just one step closer to success. Failure is a good thing! There isn’t one millionaire on this planet that hasn’t failed…many times!!

Enjoy the process with them.

I have an entire chapter on Entrepreneurship in my new book, Money Rules 101- Master Your Money Before it Master You. It will be released in February, but you can pre-order now! Learn more about the book and all the topics I cover here.



Teens and Dating!

November 11, 2015

First of many blabs!

October 3, 2015


What’s the difference between enabling and guiding?

September 1, 2015

Last week I reached out to my readers, asking for questions they would love to have answered by experts in my upcoming book. Thank you to those who responded! I greatly appreciate it. (By the way, it’s not too late to send me your questions!)

There was one question I would love to tackle myself, although I did send it to another expert as well.

She wrote in, “How do we as parents know the difference between what is enabling compared to guiding/helping?”

What a great question! I think many parents struggle with this, myself included.

Here’s my personal take, short and sweet…

When we ‘enable’ our kids, regardless of age, we are ‘rescuing’ them. When we ‘guide and/or help’ them, we are ‘protecting’ them.  Big difference, but very hard to differentiate,  especially in the heat of the moment.

What parent feels comfortable watching their child fall/fail/stumble/struggle? I’m thinking none of us!

But, sometimes, this has to happen in order for our kids to grow and learn. (Big side note here…I’m addressing this more for the parents of teens, not little ones.)

Full disclosure, I’m personally experiencing some backlash from enabling my son. It sucks. It’s exhausting. It’s frustrating.

Trying to unwind this isn’t easy, but I’m working hard at it. As a parent, I’m constantly learning too!

Keeping our kids safe from harm and danger is one of our fundamental duties, not to mention what’s in our heart. Guiding them with knowledge, wisdom and our life experiences is absolutely necessary and encouraged. I have always told my son that I am like the guardrails on the big bridge he is crossing in life. I will keep him from falling off the edge, but he will navigate the road.

But, it’s not in his best interest, nor mine, to constantly rescue him from mistakes. He won’t learn anything this way. In fact, I’m doing a disservice to him! We as parents want our kids to grow up to be strong, independent and compassionate adults, and constantly rescuing them gives them the message that we don’t believe they can handle it.

In the end, we should always protect our babies, regardless of age. That’s a given. What we shouldn’t do is constantly rescue them from messes they get themselves into. It will kick us in the teeth later.

Believe me, I’m looking for a few new front teeth myself.

P.S. I made the recent decision to slash the price of book, How to Ditch Your Allowance and Be Richer Than Your Parents to $9.99! My hope is to reach one million families! I’ve also made the book on Kindle for only $3.99! Both are available on Amazon!

4 Great Ways to Make Money over Summer!

June 6, 2015

Summer is the perfect time for kids and teens to get out and work! They can’t, after all, learn how to manage money if they don’t have it, right?!

Getting a J-O-B may or may not happen immediately. There are lots of kids looking for summer jobs, with just a limited amount of opportunities out there. This is where you, the parent, get to introduce them to the world of entrepreneurship!

Finding a way to make their own money, doing what they enjoy, is very rewarding for them. And, the probability of them making more than minimum wage is pretty darn good!!

So, what to do, you ask? Here are a few samples of what teens that have taken my workshop have done…

  • Given guitar lessons! If your teen plays any instrument, have them give lessons to younger kids!
  • Walk dogs. My son did this and made a lot of money! There are many older folks, and very busy, working folks, that just can’t get out and walk their dogs.
  • Teach a senior citizen how to navigate the internet. Seriously, this is huge. Many older people just don’t get how to email, join Facebook or just surf the net. Kids these days can do this in their sleep!
  • Start a T-shirt business. One young man in my workshop loved graphic design and he took that creativity and started making T-shirts that he sold online.

I could go on and on with ideas. Bottom line, have your child/teen determine what they like to do, that fills a need for someone else. Create fliers, make business cards and start sharing! Social media is a great way to let others know what they are doing.

Have fun with this and don’t forget to teach them how to manage the money once they earn it!

Let me know how it goes!

P.S. My online money school not only teaches youth about money, there are many videos that teach about entrepreneurship and how to build a business! I’m offering 30% off for one week only. Enter “summersale” as coupon code at checkout.

My interview with Natalie Ledwell of Mind Movies

March 14, 2015

Recently I was interviewed by Natalie Ledwell of “Mind Movies”, who hosts “The Inspiration Show.” If you haven’t heard of her, check her out! She is doing amazing things in this world and I would love for your kids to watch her too!

This episode covers how parents can help their teens and college bounds kids become money savvy. I share a bit of my story, as she does as well.

Watch it here and let me know some takeaways you experienced.

As always, feel free to email me with any questions. I’m always here to help you and your family with money questions!

Check out the show here.

Cool activities to check out!

March 7, 2015

Hope you’re having a wonderful weekend! We are hitting 80 degrees here in California! Crazy beautiful!!

I’m always looking for fun educational products to share with you. (I love my online Money School, but hey, I gotta share, right?!)

I found this cool resource at Playmeo. Playmeo is the world’s biggest online database of group games and activities, specifically designed to equip teachers, corporate trainers, camp leaders, youth workers, outdoor educators with the skills and strategies they need to create remarkably fun programs!

Their library features 250+ activities, such as awesome ice-breakers to strengthen new (and old) relationships, simple energizers to wake up a class of sleepy students, innovative problem-solving and teamwork exercises, and fun large group activities.

Check it out here and let me know how you like it!

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