Comments on: Let Your Children Handle Their Own Finances http://moneyning.com/money-tips/let-your-children-handle-your-own-finances/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Thu, 24 May 2012 23:54:08 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: FYI http://moneyning.com/money-tips/let-your-children-handle-your-own-finances/comment-page-1/#comment-69588 FYI Thu, 12 Jan 2012 21:55:05 +0000 http://moneyning.com/?p=1805#comment-69588 "Errand charges". Errant? “Errand charges”. Errant?

]]> By: Andy @ Retire at 40 http://moneyning.com/money-tips/let-your-children-handle-your-own-finances/comment-page-1/#comment-12500 Andy @ Retire at 40 Tue, 16 Dec 2008 19:32:28 +0000 http://moneyning.com/?p=1805#comment-12500 This post has been featured on the 89th Carnival of Money Stories at Retire at 40. Great idea to let your kids take care of (what is essentially) their own problems. We can only learn by doing, not by listening. This post has been featured on the 89th Carnival of Money Stories at Retire at 40.

Great idea to let your kids take care of (what is essentially) their own problems. We can only learn by doing, not by listening.

]]> By: Simon Z http://moneyning.com/money-tips/let-your-children-handle-your-own-finances/comment-page-1/#comment-12369 Simon Z Wed, 10 Dec 2008 04:15:57 +0000 http://moneyning.com/?p=1805#comment-12369 I totally agree. My parents opened a joint savings account for me since I was old enough to count and know that money could buy stuff. After many Chinese New Years, I'd give her about all but $10 from the money collected through red envelopes. Up until high school, I accumulated about $500 and I just gave all of it to my mom because I know it is actually their money (since envelopes are exchanged, my parents gave money away also). My parents trusted me and my sister to know what to do with our money and we grew up to be quite cautious about how we spend it. I totally agree. My parents opened a joint savings account for me since I was old enough to count and know that money could buy stuff. After many Chinese New Years, I’d give her about all but $10 from the money collected through red envelopes. Up until high school, I accumulated about $500 and I just gave all of it to my mom because I know it is actually their money (since envelopes are exchanged, my parents gave money away also).

My parents trusted me and my sister to know what to do with our money and we grew up to be quite cautious about how we spend it.

]]> By: Joe http://moneyning.com/money-tips/let-your-children-handle-your-own-finances/comment-page-1/#comment-12366 Joe Tue, 09 Dec 2008 20:40:15 +0000 http://moneyning.com/?p=1805#comment-12366 I would also like to point out that parents don't have to wait until their kids are teens to teach them. Case in point: my wife and I recently took our kids to buy apples from a local orchard. Our oldest daughter (4) asked why we had to pay money for the apples- "why can't we just pick them from the trees and take them home?" I explained to her that we pay the people who own the orchard money in exchange for the apples because they did all the work growing the apples, and it wouldn't be right to just take them. I also explained that the money we give them helps them to buy things their family needs. My wife and I aren't the type to constantly prep our kids with flash cards or anything, but we believe in using these teachable moments as provided by our children. I would also like to point out that parents don’t have to wait until their kids are teens to teach them. Case in point: my wife and I recently took our kids to buy apples from a local orchard. Our oldest daughter (4) asked why we had to pay money for the apples- “why can’t we just pick them from the trees and take them home?”

I explained to her that we pay the people who own the orchard money in exchange for the apples because they did all the work growing the apples, and it wouldn’t be right to just take them. I also explained that the money we give them helps them to buy things their family needs.

My wife and I aren’t the type to constantly prep our kids with flash cards or anything, but we believe in using these teachable moments as provided by our children.

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