Don’t Just "Tell" Your Kid the Way to Financial Freedom

Don’t Just "Tell" Your Kid the Way to Financial Freedom

Among the discussions of Legos, parkour and throwing the football, I do my best to slip in discussions with our 10-year-old about ‘needs and wants’. 

He’ll say something like, “I need that Nerf gun auto-repeater with the doomsday grenade launcher,” after seeing an advertisement on YouTube.  Commercials are still effective in the age of content-on-demand.

“Do you need it or do you want it?” I’ll ask.

He’ll think for a minute before saying, “I want it.  Then he'll grin and add, "But I really want it,” making his sales pitch dependent on a big smile and some funny antics.

“Enough to spend your own money on it?”

The smile fades quickly as he shakes his head.  “I don’t want it that much.”

He’s a good kid who, because of the age difference with his sister, sometimes gets spoiled like an only child.  However, when he’s forced to consider spending his own money, earned and saved through various chores and birthday gifts, he rarely gives into his own boyish greed.

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