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…
Nathan and Ryan received their back-to-school budget. But first they had to submit a list of the things they were planning on buying. Their budget, $325 each, is meant for all their clothing needs for the new school year. Shoes included. Ryan received his money in cash. He was so excited to have that much money in cash, he took a picture of it with his phone. Wait til he sees how much $325 really buys. Nathan got his money…
Imogen got a $3 raise in her allowance. Allison needs to prove that she can feed the cat and clean her room without being reminded and then she, too, will get a raise in her allowance. Matthew got an allowance for the first time. I couldn’t be giddier. Getting money into the hands of kids on a regular basis is the best way to teach them how to manage their money. An allowance, because it’s consistent, does this. And when…