Nathan got his first checking account complete with checks and debit card. It’s time for him to move on to the next level of money management. At 16, he needs experience depositing, cashing, and writing checks. He also needs to learn to use “plastic” money in the form of a debit card. I like debit cards. They’re convenient, practical, and as close to using cash as you can get. That’s because the money is pulled directly from his checking account…
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…
Ryan’s been bugging me for years if he could sell stuff on eBay. I’ve always given him permission but he needs my help to get him started and we never got around to doing it. So last week, when he asked me yet again, I decided it was time I put down whatever I was doing and help him out. He’s made $61 in the past week selling two items. Subtract the shipping and listing costs and he’s still up…
Ryan and two of his friends were hanging out the other night. Earlier in the day before either friend came over, Ryan had been MySpacing one of them about buying baseball cards on ebay. His friend had bought a Willie Mays card several months ago as an investment. According to him, it has already increased in value. That’s when Ryan’s little ears perked up. Ryan is all about investments. He knows he has time on his side and he’s willing…
“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…