One of the hardest things for me to do as a parent is to deliberately allow my kids to fail. It’s so hard that sometimes I need to walk out of the room so I don’t end up intervening and bailing them out. Of course, I would never, ever allow my kids to fail if it puts them in any sort of danger. That’s just a no-brainer. But making mistakes is a part of life and, if viewed from the perspective…
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?…
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…