tag:blogger.com,1999:blog-2925765946042638459.post5543360713546285087..comments2024-03-18T02:22:56.392-04:00Comments on Disgusted Beyond Belief: Educating one's child on economicsDBBhttp://www.blogger.com/profile/17805375811782552873noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2925765946042638459.post-79879299674265303122007-06-18T04:19:00.000-04:002007-06-18T04:19:00.000-04:00I published my post about children and money today...I published my post about children and money today.Maya's Grannyhttps://www.blogger.com/profile/12183715043200608144noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-87259349069897521782007-06-17T20:52:00.000-04:002007-06-17T20:52:00.000-04:00You could Google Operation Hope and see if they ha...You could Google Operation Hope and see if they have a chapter in your area; I'm not sure they're everywhere. I feel about it pretty much the way you do - no experience, but a feeling that it's the right thing.<BR/><BR/>I have very mixed feelings about retirement. I can't wait to get enough sleep, get to the gym regularly, and not to have random 7 AM conference calls. I'll miss all the people very much. I couldn't possibly sit on my tokus and do nothing, I'd go nuts; I have a list of organizations I might like to volunteer at, Operation Hope is just one. The top of my list is actually the California Academy of Sciences; we'll see if that comes to anything.hederahttps://www.blogger.com/profile/01696592301686568456noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-87202118096568063372007-06-17T08:22:00.000-04:002007-06-17T08:22:00.000-04:00Hedera,That's very cool - I have never heard there...Hedera,<BR/><BR/>That's very cool - I have never heard there was such a thing. That's the sort of volunteer work I think I'd enjoy doing. I don't know if I'd be any good at it, but maybe enthusiasm counts for something.<BR/><BR/>And congrats on retiring - do you have mixed feelings about that? My parents are both semi-retired now, though both of them keep very busy still working part time and doing other things. I think they'd go crazy if they just had nothing to do.DBBhttps://www.blogger.com/profile/17805375811782552873noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-44772051303316897292007-06-17T01:31:00.000-04:002007-06-17T01:31:00.000-04:00I see I'm not the only one concerned about this is...I see I'm not the only one concerned about this issue. I have no kids of my own; but I was raised by people like your parents, who paid cash for everything. In fact, I can top you - we don't even go into debt for cars. Every month we put a set amount into "the car fund", and when we're ready to buy (at about 10 year intervals), there's the cash. <BR/><BR/>I absolutely agree with your plan for your daughter. My sister and I got an allowance, and independently had a certain list of chores we were expected to do; and then there were extra chores that Mom or Dad normally did, that we could take on for pay if we chose. <BR/><BR/>I'll be retiring soon - VERY soon, Friday in fact - and one of the top volunteer efforts I have in mind is to hook up with a group called Operation Hope, which teaches basic financial literacy in middle schools. I don't know if I can make a go of this but I feel it's something I want to try.hederahttps://www.blogger.com/profile/01696592301686568456noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-39380621910164179652007-06-14T14:34:00.000-04:002007-06-14T14:34:00.000-04:00Well, I had a step father who grew up very poor an...Well, I had a step father who grew up very poor and helped support his family from the age of five. He had given it a lot of thought, because he was raising us in a much more secure atmosphere and wanted us to learn the good things he had without having to suffer what he did. And then, I was a Montessori teacher, and we believe in allowing children to do for themselves what they can do for themselves. I am going to do a couple of posts for my blog on allowances and chores and will let you know when I do.<BR/><BR/>I didn't adjust for inflation, but as my children got older, they needed more money. A five year old doesn't need what a 15 year old does. <BR/><BR/>My kids got an allowance at six and knew from the beginning it would stop at 16. My daughter had a job at 14. My son leaned how to live on minimal money for a while. Both were good outcomes, and both handle money well now.Maya's Grannyhttps://www.blogger.com/profile/12183715043200608144noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-44639499745682773532007-06-13T15:03:00.000-04:002007-06-13T15:03:00.000-04:00You know, this reminds me of my previous post abou...You know, this reminds me of my previous post about the alleged monetary value of stay-at-home parents - in that I think the same logic of why you don't pay your children for doing chores covers why no one should expect to be paid to stay at home and take care of their own household. <BR/><BR/>And yes, her allowance will not be tied to anything (and I like the idea of giving it monthly) - though I wonder at what age it is appropriate to stop giving an allowance? I also am thinking that it should never be adjusted for inflation (or anything) - giving my daughter an incentive to find other sources of income as her desire for more expensive things grows (which I'm sure it will). <BR/><BR/>Glad to hear your daughter turned out to be an excellent money manager. Do you remember where you learned those skills?DBBhttps://www.blogger.com/profile/17805375811782552873noreply@blogger.comtag:blogger.com,1999:blog-2925765946042638459.post-42937089327253258142007-06-13T14:50:00.000-04:002007-06-13T14:50:00.000-04:00You have got a good start on it by recognizing tha...You have got a good start on it by recognizing that she shouldn't get paid for doing chores and why. It is important that she should not be punished for other things by losing her allowance -- how can you learn to manage money if you can't predict when it is going to come?<BR/><BR/>I gave my daughter a clothing allowance and she discovered all sorts of things about paying too much for something being "in" and trying to get too much by paying too little. She is now 41 and an excellent manager of money.Maya's Grannyhttps://www.blogger.com/profile/12183715043200608144noreply@blogger.com