Teaching my kid to save money
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Have you ever sat down with one of those financial calculators or a website which provides a small application, where you put in the percentage of interest you can earn, base amount to start; the money you will save each month, and the number of years you will save. I am guessing you have. Did you notice the more years you save the more money you will have at the end. Don't you wish you started at age two?
It is our responsibility as parents to teach our children the value of money. When my daughter was 2 years old, I took on the task of giving her an allowance. Every week I gave her, her age in dollars. So at 2 years old, I gave her $2 every week. When she turned 3, I gave her 3 dollars every week. Well you get the point.
My daughter started working in high school and today I have to report that she is very good with her money and knows the value of money. So far so good...
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