Nathan got his driver’s license two weeks ago. \u00a0He 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. \u00a0Just from the many trips back and forth from all his many activities.<\/p>\n
But it made me think about his first set of wheels. \u00a0 Nathan had all the little trikes kids usually get as they’re learning the ways of the road. \u00a0But his first real bike was a sleek silver and black two-wheeler fully equipped with a horn and training wheels. \u00a0And he paid for it himself. \u00a0He was four years old.<\/p>\n
Nathan was always a saver. \u00a0Not that he didn’t buy anything; he simply waited until he found something he liked and then bought it. \u00a0The idea of KidsSave never occurred to us with Nathan. \u00a0KidsSave had to wait for Ryan.<\/p>\n
So, knowing Nathan’s personality, I used the new bike as an opportunity to teach him how to set his first personal financial goal. \u00a0Being four, it was important that the goal be achieved in a relatively short period of time. Even kids like Nathan can’t wait forever. \u00a0I also knew that I would need to help him become successful if I ever wanted him to set another goal.<\/p>\n
The bike cost $60. \u00a0I decided not to bring up the notion of tax. \u00a0That lesson could wait. \u00a0Using the $60 price tag we set up a goal (we didn’t have KidsSave then so this was all done on a piece of lined paper). Nathan had already saved some money and was willing to put some of that towards the bike. \u00a0That left us about $40 shy. \u00a0That’s a lot of money for a four-year old.<\/p>\n
That’s when I decided on starting an allowance. \u00a0Since I knew that starting an allowance would shift all those extras that I’d been paying for into his little hands, I started him with $5 a week. \u00a0John thought that was way too much but conceded after realizing all the things I planned on having Nathan do with the money. \u00a0Like buy his first bike.<\/p>\n
And buy it he did. \u00a0Within a month, using some of his saved money, his allowance, and money from doing extra stuff, he was the proud owner of his first two-wheeler. \u00a0There is absolutely nothing like the feeling of achieving something you set out to do. \u00a0And there’s absolutely nothing like the feeling of watching your child’s eyes light up as he zips away on the bike he earned through patience and hard work.<\/p>\n
And now Nathan has come full circle. \u00a0He wants a new set of wheels. \u00a0He’s already saved the money, it’s just a matter of fitting the car-hunting escapades into his busy schedule. \u00a0I’m in no hurry. \u00a0Seeing the excitement in his eyes as he zipped off on a spiffy new bike with training wheels was one thing. \u00a0Seeing the excitement in his eyes as he zips off in a swanky “new” car is entirely different.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nathan got his driver’s license two weeks ago. \u00a0He 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. \u00a0Just from the many trips back and forth from all his many activities. But it made me think about his first set of wheels. \u00a0 Nathan had all the little trikes kids usually get as they’re learning the ways of the road….<\/p>\n