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Teaching kids about personal finance is important, but making your kids pay for large expenses isn't a good thing. I've seen so many kids start out life having
by skittles 13y ago
Teaching kids about personal finance is important, but making your kids pay for large expenses isn't a good thing. I've seen so many kids start out life having to pay for their own car, insurance, and college. Most of them drop out of school before graduating (no degree and student loans). There's nothing wrong with helping your children get started in life by paying for the things that will financially cripple them.
- mratzloff 13y agoWell, if we're trading anecdotes, several kids I know whose parents paid for their car, paid for college, etc. did not value these contributions and drove recklessly and wrecked their car, did poorly in school and dropped out, etc. Not being able to pay when faced with a large expense is one thing; most parents would help out if their child was in that situation. Not valuing the expense is definitely another, and it's a difficult lesson to learn later in life.