MInTheGap

Standing in the Gap in a Society that's Warring with God.

How Do You Teach Your Children about Money?

April 1st, 2015 Viewed 1176 times
School children at Mitchells Plain school. The...

School children at Mitchells Plain school. They draw learners from Khayelitsha and Philippi as well. (Photo credit: Wikipedia)

I was reading Educating Your Children about Money and it had an interesting timeline to follow where it show different ages at which children can process different monetary concepts.  To me, this is a great idea to get them involved as early as possible since I did not really have that kind of education as I was growing up.

One of the things that I have tried to do over the years is to give each of my children an allowance that amounts to how many years that they have been alive.  This echoes the idea of getting a salary instead of paying for chores.  I find that paying for chores doesn’t really work for us, because not only can they opt not to do the chores (which is not conducive to family harmony!), but the book work can be harder to manage.  The way I’m currently doing it, they get paid when I get paid.

Christmas: Not the Time To Go Into Debt

December 18th, 2011 Viewed 2131 times

Christmas Card

My life with debt has seen its ups and downs.  When I got out of college, one of my first big purchases was a used car.  It cost me $6,000, for which I took out my first auto-loan.  Of course, with little expenses1 and a full time job, I was able to repay the loan in six months.

From there, it was just playing with investing and saving money.  Sure, I had a credit card, but I never carried a balance.  If you were to ask me then, “What is a Good Credit Score?” I could assure you I had one.

  1. Living at home until I was married []

MInTheGap

Standing in the Gap in a Society that's Warring with God.