How much money do kids have these days that they can spend on anything they desire? When I was growing up I wasn't given money to spend on crap. I had to scrimp and save for things that I wanted. Maybe that's why I am like I am today (money-wise.) And that's a good thing.
I hope I'm teaching my kids good money values that they can have for the rest of their lives. Just the other day I showed my oldest son (13) how compound intrest works and he was amazed. In DR's book it shows how an eighteen y.o. can invest $2000.00/yr for five years and have over one million at retirement (at 10%). WOW!
To make extra money my son buys things and sells them for a profit at school. (and he doesn't do half bad.) When he reaches a certain dollar amt. he is going to deposit it in savings. Yea! He already has an acct for a car when he turns 16, and plans to buy it with cold hard cash! Maybe, just maybe, something is sinking in.
Sorry for the babbeling...
kids and money
November 18th, 2008 at 03:30 pm
November 18th, 2008 at 04:38 pm 1227026285
November 18th, 2008 at 05:34 pm 1227029699
November 18th, 2008 at 06:28 pm 1227032922
Ale has 1,000,000 ideas about things to sell at school, but, unfortunately, this is forbidden by school rules!
I do take her to the flea market or encourage her to sell things among the neighborhood children, so that those skills don't go to waste! LOL!
November 18th, 2008 at 09:20 pm 1227043245
i bought my first car with cash, it took me six months to save up $2200 the year after i finished school, and that was earning around $300 a week and paying for my own groceries and $25 p/w board.