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re: Kids being all in your money and life decision business
Posted on 4/18/15 at 11:36 am to chalupa
Posted on 4/18/15 at 11:36 am to chalupa
quote:
This was my first thought. I think she is too young to know the exact number. Just tell her a lot and that you had to borrow it from a bank. Explain in general terms why saving and managing money is important. Just be general and vague at that age.
I know a kid who thought his dad was going to sell his car for $150,000... $200,000 if they threw in the tape deck.
1
Posted on 4/18/15 at 11:37 am to chalupa
Or use it as a lesson that you should be discreet about money and that it isn't something to be bragged about.
some people just aren't taught the proper decorum when discussing money. that should be included, in my opinion.
some people just aren't taught the proper decorum when discussing money. that should be included, in my opinion.
Posted on 4/18/15 at 11:42 am to uway
I am definitely for teaching kids - at least some basics - at a young age. At 8, I'm sure she won't grasp the bigger concepts, but it could be both fun and educational to focus on her room being built - you could just use a rough percentage. I think it would be easier for her to truly understand and she would take a lot of pride in her room. Just a thought.
Posted on 4/18/15 at 11:44 am to LucasP
quote:
One, I wouldn't come here asking for parenting advice.
It's pretty easy to separate the wheat from the chaff.
Also, the OT is what we make of it.
This post was edited on 4/18/15 at 11:48 am
Posted on 4/18/15 at 11:45 am to Shexter
quote:
My parents were of the mindset that we shouldn't know how much money they made, etc. I'd be much more financially responsible if they'd taught me about money at an early age.
These two are not mutually exclusive.
Posted on 4/18/15 at 11:52 am to Sao
Xzbit pimped that ride out sweet!
Posted on 4/18/15 at 11:53 am to uway
I expose my son to my full business operations. I don't ask for opinions, but he is observant.
Posted on 4/18/15 at 11:57 am to sbr2
quote:
I'd let her know, my parents didn't let the kids know much about finances etc. I wish they had, would have been good information.
On one hand it might be good to start teaching the ideas and mechanics behind things like this even if she can't really understand. On the other hand kids that age can't really keep their mouths shut, so OP's business will probably get spread all over the place.She might not really know any better even if you explicitly tell her not to say anything.
I don't know what I would do. I do remember asking my dad how much money he had in his checking account when I was a little older than that, and I never told anybody, but I also remember saying all kinds of things to people that I shouldn't have when I was younger.
This post was edited on 4/18/15 at 11:58 am
Posted on 4/18/15 at 12:11 pm to uway
I think there's a huge difference between financially educating your kids and letting them in on the family's specific financial decisions, how much you make, etc.
For example, I don't agree with letting your kids in on planning your budget. I agree with giving them an allowance and teaching them how to responsibly use it.
If they ever ask me questions about it, I won't "hide" anything, but I think it's overboard to let say your 8 old actually help plan and/or make family monetary decisions.
For example, I don't agree with letting your kids in on planning your budget. I agree with giving them an allowance and teaching them how to responsibly use it.
If they ever ask me questions about it, I won't "hide" anything, but I think it's overboard to let say your 8 old actually help plan and/or make family monetary decisions.
This post was edited on 4/18/15 at 12:15 pm
Posted on 4/18/15 at 12:15 pm to uway
Children should be seen, not heard.
Posted on 4/18/15 at 12:15 pm to uway
You sound like a bitch.
Posted on 4/18/15 at 12:16 pm to reginaphilange
quote:
I am definitely for teaching kids - at least some basics - at a young age. At 8, I'm sure she won't grasp the bigger concepts, but it could be both fun and educational to focus on her room being built - you could just use a rough percentage. I think it would be easier for her to truly understand and she would take a lot of pride in her room. Just a thought.
This is a really good idea if she's that persistent.
Posted on 4/18/15 at 12:17 pm to Brettesaurus Rex
Never to early for them to start learning about money. My kids wanted iPads two years ago. Made a deal I would give them 2 bucks each a day for 150 days. 5 months later my 9 year old son got his new iPad, my 5 year old girl didn't, she chose to buy ear rings and other stuff durning the 150 days and was warned every time she spent she was goning to be short funds. Lots of crying that say but she now saves every dime of allowance she receives. We are doing a deal with them now that they will pay for half a trip to Disney in a year and we will go back. They are well on their way.
Posted on 4/18/15 at 12:19 pm to uway
quote:
Is it time to let her in on some information so she learns the value of money?
Yes. Especially if she's that interested in it. My Dad started talking to and teach me about the family business when I was boy.
Posted on 4/18/15 at 12:22 pm to uway
Parenting rule number one: anything you tell that little shite will be repeated.
Posted on 4/18/15 at 12:24 pm to constant cough
quote:
My Dad started talking to and teach me about the family business when I was boy.
Subtle brag about knowing your father.
awesome, we're all impressed.
Posted on 4/18/15 at 12:25 pm to uway
I remember learning all about my father's business when I was young. I think I was about 4th or 5th grade when I started writing business correspondence for them. By junior high I was learning numbers and such, but by then I had a pretty solid grasp of money where I didn't share any information with my friends that would hurt our family business. Throughout it all I enjoyed it until I decided I didn't want to go into the same business~ things got a bit rough but we're all good in forksup's family now 
Posted on 4/18/15 at 12:38 pm to LucasP
quote:
Subtle brag about knowing your father. awesome, we're all impressed.
Than my work here is done. And I owe it all to you Dad!
Posted on 4/18/15 at 1:07 pm to uway
You need to step in and tell your child to stay out of adult business.
When she gets her own house and stuff then she will realize.
When she gets her own house and stuff then she will realize.
Posted on 4/18/15 at 1:11 pm to uway
I tried to discuss moving money to pay down our HELOC move to a 2014 Roth for tax purposes with my son. He shite his pants. Probably because he's 2.
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