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« Money Christmas Present Suggestions from Free Money Finance | Main | Money Christmas Present Suggestions from Free Money Finance »

November 26, 2005

Comments: How to Make Sure Your Kids Will Live Better than You, Part 6; Loan Shark

Here's a comment a reader who responded to my post on How to Make Sure Your Kids Will Live Better than You, Part 6:

Personally, Re: #4, I don't have kids yet, but when the time comes, I definitely plan to give my kids an advance before pay-day, but charge commensurate outlandish interest. Hopefully this will teach them the value of saving and paying with money you have, instead of borrowing to pay with money (and interest) that you don't.

I'm interested in seeing if this works. Anyone out there have practical experience with this idea?

Free Money Finance recommends Emigrant Direct because of its 4.0% yield.

Posted in Comments, Kids and Money |

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