Friday, July 25, 2014
Good money habits for kids
So I read a piece in the WSJ by Anne Marie Chaker (July 10, 2014) with interest and some remorse.
In the story, the parents give their two kids 14 and 11 ten bucks a month allowance. In exchange they did chores.
But this--as radically organized as it was--was not enough. So now the kids get $20 bucks at the end of the month and have more chores and must save ten bucks. They also must save half of the money they earn around the neighborhood. They walk pets, babysit, mow lawns.
Mow lawns--you can't find a kid out here in AZ to mow a lawn if you paid a hundred bucks.
Well, the little capitalists have amassed tidy little nest eggs--the girl is saving for a trip to Switzerland.
Maybe she can open a secret account, if they still have those. Her mom has enrolled her in financial boot camp, after all.
I am not saying this is bad. It is just so creepily atypical.
When I was a kid we got 25 cents a week and bought candy. Yummm, rootbeer barrels.