he brought home $101 for his first check!!! He was soooo stinking excited! Not bad for 12 hours of work on a weekend.
I brought him to the bank yesterday to set up his own savings with an ATM card....I wanted him to have something he could access and that is separate from the savings I hold for him......we discussed that he will be splitting his check in half.....one half he keeps, the other half he has to put 1/2 of that half into his personal savings that he has access to, and the other 1/2 has to go into his savings that he does not have access to.
I figure this is a great way for him to begin to learn budgeting and saving, while not being too risky and still being able to enjoy some of the money he's made from his hard work.
I'm so happy for him...just had to share.
But how did others go about helping their young adult/ older teenager learn budgeting and saving? 1|1|Excellent ! You have him off to a great start.|Arizona|vbj48@cox.net|11:42:40|03/31/2012|
Well done! 2|1|Same thing for our boys, Kelly...they had to save half of their check for college/after they graduate, and the other half they can do what they want with it....BUT they have to pay for their own gas in the vehicles, part of their own car insurance, their line fees on the cell phone ($9.99 a month)....so after that they can spend how ever they like. They hated it that I made them save half, but now that they are facing graduation and college in the face, they are glad I did :)|saint6811|waylan@comcast.net|12:56:08|03/31/2012|
" You'll get what's coming to you ... Unless it was mailed."