I'm sure most of you would agree with me when I say that there's something to be said about consistency, especially when it comes to children and money. However, when our children share homes with other parental units, the flow of consistency tends to get diverted, if not downright disrupted. You might share your children only once a week. Others may share children a month at a time. Others lose their children for whole school terms. How do we keep up the financial education when the kids are away?

There are various methods to maintain our children's interest in the stock markets, and I believe I've tried them all. After many trials and efforts, I've finally come up with a successful method of financial maintenance with Cora. The added bonus is that her "other" parents have become involved, and it's all due to one of the services at BUYandHOLD.

The trick is in the Stock Tracker. Before Cora leaves for the first part of her school year, we set up a watch list of stocks she's considering for diversification in her portfolio. Since she can access her e-mail from just about any computer, she would have access to the emails sent from the Stock Tracker. However, since she's a minor, I set up this account in my name and forward the e-mail alerts generated by this tool on to her as they arrive.

This e-mail notice reminds her that there are more important things than boys and clothes (at least in my opinion). Plus, forwarding forces me to remember which day it is, so it acts as a warning bell to remind me to contact my daughter when she expects to hear from me. It's easy for children to forget the day and time of promised contact, and it's also easy for parents to forget promises when we get wrapped in work and other problems. But, parents are people too, even though we're the ones designated to teach the value of responsibility to our children. That's why I like reminders like the Stock Tracker. It makes my life easier and I actually seem organized.

You might wonder, "How do I set up a watchlist, and where do I find the stocks for the portfolio?" Both answers are a snap. You must register, if you haven't already done so. Don't worry - there's no obligation and it's free to sign up for the perks at BUYandHOLD. Once you register, go to the pull down menu at the Stock Tracker, and take yourself to the "Create A New Portfolio-Watchlist." Here, you can create a portfolio, a watchlist, receive e-mail alerts, and create a news watchlist alert program.

Before you create your list online, make a list on paper of the stocks you want to watch together while you're away from each other. We picked five stocks (any more than this might be an overload on an already stressed-out child). Our list contains a few companies that create or sell products or services we use every day (or would like to use every day!), and a few companies that are mysteries. The latter stocks can be chosen from the state map at BUYandHOLD, or you can do an Internet search by plugging in a word and picking whatever company rises to the top. This last option is fun, and the results might even contribute to a geography or social studies report down the road. Shoot, the results might even merit a permanent place in your long-term real-time portfolio.

Even though the alerts will be sent to the adult's e-mail, name the portfolio, watchlist, or newslist in your child's name, because this gives them the feeling of propriety and all that comes with pride in ownership. The nice thing about the Stock Tracker is that you can create numerous portfolio-watchlists. So you can create one for each child, and you can create as many as you want for yourself. Each list can be manipulated for the frequency of alerts, so your children's portfolio watches can be set to arrive once a week, and you can receive yours twice a day if you wish.

Notice that when you input your stocks into the Stock Tracker, news items regarding each company you pick will generate under your portfolio picks. Is this convenient or what? We could - and have in the past - spend hours finding news articles about various companies, so this little tool is a time-saver. You can also set the alerts for the portfolio and the news alerts for different levels. You can receive news hourly, or set it so you don't receive any news alerts at all. However, this tool is so convenient I suggest receiving news alerts at least once a week for all portfolios, because this teaches your child to make the connection between news and stock fluctuations. Of course, if your child is younger or new to the stock market, you may have to help them make that connection.

The level of sophistication is flexible with the Stock Tracker, and that's the best part about this tool. If your children are younger, this is a great way to introduce them to financial workings. If your children are older or in high school this tool is even more appropriate, because they can carry it with them into college and beyond. Plus, as I mentioned before, the consistency of alert arrivals can help us all stay on top of keeping in touch with our loved ones on a regular basis.

Consistency, money and children. What could be better?

Until Next Week,
Linda Goin