3 ms·
The money part is brave and will likely work out. However, its also a great opportunity to teach cash flow rather then balance sheet. My dad did something real
by xal 13y ago
The money part is brave and will likely work out. However, its also a great opportunity to teach cash flow rather then balance sheet.
My dad did something really great when I was young: He paid me my entire allowance in bulk once a year. Of course the first year it failed and I bought all sorts of crap and was out within weeks. That was the idea. The year afterwards I was too afraid to spend anything because it was so painful having nothing. The year afterwards he introduced me to bonds and some stocks to help build some income.
- ryen 13y agoThat's pretty interesting. What age did that start and, if you don't mind telling, how much was given? Willing to try that with my future kids.
- saraid216 13y agoHow old were you the first year, out of curiosity?
- xal 13y ago10. He gave me adjusted for inflation ( and converted from DM to EUR to USD ) it would be 200. Essentially age * 20.
- hkmurakami 13y agoYou know, some Asian cultures (including my own - Japan) inadvertently does this through the New Years' Money Gifts given to you from your older relatives (uncles, aunts, grandparents). The amount differs from family to family, but it's not rare at all to get a couple hundred bucks worth from one person. This can add up to ~$1k easily. So kids in these countries learn (well at least some of them) to ration this big annual pay day over the year, deciding whether they want to buy comics or that hot new game that came out, etc.
- saraid216 13y agoI once refused my grandma's money. This turned into a lesson on always accepting gifts. It was awkward.