News & Views of Phillips Since 1976
Monday February 2nd 2026
Five Smart Money Habits to Teach Kids Now
By AMANDA THEISEN, Communications Manager for Sunrise Banks
Summer is almost over, and kids will be heading back to school in a few short weeks. As they dive back into reading, writing, math, science and other subjects, this is also a good time to give them a hands-on lesson in managing money.
A University of Cambridge study found that children typically form habits around money and spending by age seven. Additional research shows that parents, not friends, are a child’s biggest influence on their attitudes and behavior with finances.
Here are five sustainable money habits you can teach the young people in your life now, so they’re set up for financial success later in life.
1. Save a Portion of All Money Received
Age-Appropriate Starting Point: Age 5+
Encourage kids to set aside a percentage of all money they receive—whether from allowances, gifts, or part-time jobs. A simple breakdown could be the 50/30/20 rule: put 50% towards spending, 30% into savings, and 20% for giving or donating. You can alter these percentages based on your child’s age or amount of money received.
Money Lesson Learned: It builds a lifelong mindset of saving before spending.
2. Set and Track Financial Goals
Age-Appropriate Starting Point: Age 8+
Teach kids to set both short-term and long-term goals.… Read the rest “Five Smart Money Habits to Teach Kids Now”
Behind the Decisions: What the Board of Estimate and Taxation (BET) Does for Minneapolis
by LEAGUE OF WOMEN VOTERS
This is the fourth article in the League of Women Voters Minneapolis 2025 Democracy Series. All articles will be available at lwvmpls.org/democracy-series/
In the November election, you will have the opportunity to select members of the Board of Estimate and Taxation (BET). What responsibilities do these board members have? How might decisions made by these boards affect you? How can you make an informed decision on who to vote for so your choice of candidate aligns with your values and concerns?
Responsibilities of the Board of Estimate and Taxation (BET)
BET may not be on your radar every day, but the decisions it makes affect you greatly.
This board decides the maximum cap on the total property tax dollars our city government can collect. This is called a levy. Before setting the levy, the board holds public hearings to listen to Minneapolis residents’ opinions. For 2025, the city’s overall property tax levy is approximately $511,000,000.
BET sets the maximum tax levies for several funds that come out of the overall tax levy. For example, the Minneapolis Park and Recreation Board (MPRB) requests its funding from BET. Representatives from MPRB present their budget requests to BET, which includes their strategic plans for using the funds.… Read the rest “Behind the Decisions: What the Board of Estimate and Taxation (BET) Does for Minneapolis”
Keep citizen journalism alive!
Awards Neglect Community Newspaper Excellence
It is a disservice to the public that the Page One Awards (recently taking place) don’t acknowledge community newspaper excellence. As an alley contributor who has written for a handful of community papers over three decades, this publication is an oasis. To be sure, while its activist bent is clearly leftist, editorial integrity avoids the pitfall of being de facto propaganda. Rather than forward a publisher’s vested agenda, the alley holds the community’s well being first and foremost, informing and acting on behalf of the same. It does readers immense good to remain in existence all these years.
Dwight Hobbes
Editors’ Note:
Page One Awards contest is an annual event put together by the Minnesota Society of Professional Journalists. The awards contest recognizes and celebrates outstanding journalism in Minnesota. Learn more about the event and the worthy winners at https://www.mnspj.org/2025/06/26/mnspj-2025-page-one-awards-winners/.
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