Buried Beyond Belief!

[marlene09]

Originally Posted by Moonwalkr

My kindergartner doesn't even pay for his lunch with cash, money is actually deposited into an expense account and everything is deducted from that. From that moment on, they just don't really learn the value of cash. Oh don't worry, we take every opportunity we have to teach him financial responsibility. Things just don't run the same way as they used to.

That's why I mentioned ThreeJars - Money Wise, Caring Kids. It's the only place I've seen where kids have to make actual financial decisions (albeit with parent approval) and live with the consequences. My friend told me his son asked him for a few bucks for candy without thinking twice about it. He told his son "sure, I'll give it to you but let's be sure to note the withdrawal in your ThreeJars account". His son decided he didn't want the candy after all. It's funny how kids think nothing about spending their parent's money on candy and other junk, but when you tell them to spend their own money they start to think more about how and where they want to spend it. Kids learn by doing and they get to save, invest, spend and donate money on this site. It's a way to practice safely with small amounts as opposed to learning the difficult lessons that the OP had to learn with life changing amounts.

By the way, I just have to thank the OP again for putting this out there, knowing that he may get tough feedback, I think it provided a lot of insight to many and a great teaching opportunity as well.