Here is a GREAT comment/story I received in response to my post titled How to Educate Kids on Money Matters, Nine Tips for Teaching Teens, Tweens about Fiscal Responsibility:
Thank heavens, it is never too late, and you don't have to have much money, to teach them a great lesson.
When my son was 20 he and his girlfriend moved back "home" to my house. They had not been successful at finding jobs, and "... well, lets just move in with my folks..." he said.
After watching them sleep-in til noon and read the classifieds for a week, while I worked my three menial jobs, I said I would hire each of them at $50 a week for an 8-hour day, 5-day week.
Their JOB was to get a real job. We planned their days so they could see how to get a job and enjoy it at the same time.
They each had a job within two weeks. Then we each put 5% of our pre-tax income into a regular savings account to be split three ways when they moved out. We had $500 each, a year later. Too bad I didn't know about other investment opportunities then.
Now I am hiring my granddaughter, and starting earlier.
Thanks for your encouraging words.
Great, great, great story!!!!!! Thanks for sharing it!!
That's a good story. It's nice to hear some parents are teaching their kids to be responsible!
Posted by: Tim MMF | April 06, 2006 at 04:17 PM