Creative Mother, Entrepreneur Creates Unique Financial Literacy Lessons for Her Children

Parents who introduce financial literacy lessons to their children help nurture a mindset of making money, not just spending it freely.

Elisha Michelle Alford, a licensed cosmetologist, celebrity wig colorist and stylist, is included in a growing list of parents who want their young children to grasp financial literacy concepts at a young age while teaching them at home. 

“Teaching financial literacy at home is important to me because they will not be kids forever and I wasn’t taught that growing up, so it’s important that I teach them early so it’s not hard for them to be successful,” said Alford.

The founder of Crowned Barbie began her entrepreneurial endeavor in 2018. Her online-based company ships wigs within the U.S. 

“I was inspired to start my entrepreneurial journey by listening to daily motivation and watching other successful entrepreneurs around me,” said Alford. “My wigs are unique because of the creativity I use when making them—never seen before, never done before. I custom make them using my creative ideas from hair props I have bought.”

The trendsetter added, “I was inspired to design from watching music videos and from foods we eat. Most of my wigs are inspired designs from old 90s music videos or chip brands, such as Cheeto.”

Alford stated that she has worked with celebrity clients.

“I have worked with Cardi B; Lovely Mimi; Justina Valentine; Natalie Nunn; and many more influencers.”

The mother of four has not limited her entrepreneurial journey to herself. She makes time to integrate her business pursuits into her household by sparking the curiosity of young minds. All her children engage in entrepreneurial activities, but 10-year-old Zaliyah and 12-year-old Kamari enjoy appearing in online videos demonstrating what they learn, including financial literacy lessons.  

Alford created a way for her children to learn life skills, such as the responsibility of simulating “paying rent” on the first of the month through a model she crafted four months ago.

 One dollar rent is used from their allowances to add funds into a Roth IRA (Individual Retirement Account) savings account from their allowances.

“I invest the money for them in a Roth IRA.  They will be able to get the money once they turn 18,” said Alford.

Zaliyah earns her money by getting good grades and through her allowance. Her brother, Kamari earns his money by getting good grades and performing household duties. Alford shared that they are both good students who keep their grades up. Alford further explained that additional household duties include keeping their rooms clean; helping around the house; taking out the trash; or washing dishes. 

“I have learned that money management is so important and having an emergency savings account is very important. You never know how life can go,” Alford explained.

Financial literacy lessons have helped her children to become more responsible. 

Additionally, Alford’s two young entrepreneurs are given other tasks, such as helping their mother with her wig business as a part of their allowance.

“I enjoy learning early how to work for myself and do the things I love,” said Zaliyah.

Kamari added, “I love learning to work for myself. I don’t plan to work for others.”

Alford wrote a money management book called “Content 2 Coins” for her children to teach them to write down where their money is going; manage their money; and track their spending. The eBook was created before Thanksgiving. She also offers the book to others to teach them how to create content and make money.

Parents do not have to wait for children to learn life skills in school or learn to make money when they are hired for their first job. Even young children can learn basic lessons and skills if they are too young to work traditional jobs. Parents can serve as unofficial mentors. When they implement creative, engaging lessons, children can model good habits as they get older. 

Parents like Alford give future leaders like Zaliyah and Kamari a starting point to think beyond today and invest in tomorrow.  

“My favorite thing about my mom is how she loves us and teaches us new things,” said Zaliyah.

Visit https://stan.store/michelle45/p/content-2-coins-teach-you-how-to-make-money-  to learn more about “Content 2 Coins;” Alford’s business via www.crownedBarbie.com; and https://www.facebook.com/CrownedBarbie.