Keeping gas in the tank is painful for a teen when it’s their money that’s being sucked dry. But it’s also a very important life lesson. Teens need to learn how to manage money before we send them out into the world. So Nathan was thrilled when he came home yesterday with yet another opportunity to drive one of Ryan’s friends to school every day. Besides Ryan, this is his fourth passenger. Paying passenger. I told Nathan I would pay him the…
I was trying to figure out this whole LinkedIn networking thing when I got a phone call from Nathan. So it was a nice break because when it comes to doing new things, that learning curve can get frustrating. This was Nathan’s first time depositing checks into his new checking account. We opened the account because, at 16, it’s important for him to learn how to use a debit card and write checks. Yes I know. Who writes checks anymore?…
I am always impressed by how frugal kids become when it’s their money they’re spending. Nathan and Ryan received their clothing budget and have started shopping. Neither one has spent all their money yet. But that’s okay, it’s theirs to use until spring when they get a smaller budget for summer clothes. Here’s what I love. Both boys have been shopping sales and using coupons. In fact, they don’t want to spend any money at all unless there’s some sort…
Nathan finally did it. He bought his first shares of a public company. Not the company he was orignially looking at. That was Pacsun and those shares have tripled in value in the few months he waited. No, instead, he bought several shares of Walmart. He likes how environmentally conscious they are and believes that they can have a big impact in this area. I like that he’s given serious thought to his investment. And I like that it is in concert with his value…
Along with a car comes responsibility. At 16, Nathan was fully aware of this in theory but in the few weeks he’s owned his own car he’s experienced the hands-on side. First came the need to keep the gas tank full. If he wants to go anywhere. Although he researched a car with decent gas mileage, his gets an average of 22 mpg, when the money is coming from his wallet, the desire to drive all over town was no…