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…
“What else are you supposed to do with it?” was the answer I got when I asked one of the kids in my math camp why he spent all his money. Matthew earns a weekly allowance for doing his chores. He loves video games and spends most of his money on those. He’s not a big saver. In fact, he’s not a saver at all. Apparently he didn’t even know he could save his money. Matthew is 9 years…
I was working with a small group of kids today and I wanted to see if they could resist temptation. I explained that a study had been done over 30 years ago where kids were given a marshmallow and told if they resisted eating it right away they would get another marshmallow at the end of the “lesson”. Some kids resisted. Some didn’t. Here’s the interesting part…these marshmallow kids were followed for over 30 years. According to the study, those…
Nathan got his driver’s license two weeks ago. He thinks he’s a free man but what he doesn’t realize it that it’s me who’s really free. Not free from the worry when he’s out there on the road. Just from the many trips back and forth from all his many activities. But it made me think about his first set of wheels. Nathan had all the little trikes kids usually get as they’re learning the ways of the road….
I was in Michael’s yesterday buying key charms for my money management lesson on the keys to compounding. With my 40% off coupon, of course. I was behind a mom who I felt increasingly sympathetic for. But not really because she allowed herself to be in the position she was in. The mom was there with her two daughters. They looked to be about 8- and 9-years old. The older one asked her mom if she could buy one of…