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June
Raising Financially Fit Kids: What Would You Do?
Best Practices From Parents
Last month's question:
We give our 15 year old son an allowance of
$25/week to cover school expenses and some extras
(food, a movie, etc.) We have two other kids and
this represents a significant part of our monthly
expenditures. He also has does chores for a next
door neighbor a couple of times a week and between
the two sources of income, he makes an average
$40-$50 week. My wife and I think this is adequate
money for a 15 year old to manage at this point,
but we are in a constant battle as he says it isn't
enough to cover the cost of the dates he goes on
each week.
What is a reasonable amount for a 15 year old to
spend on a date and what happened to equality?
Don't girls ever help pay the cost of a night
out?
June Brown offered our favorite response (and
the gift certificate winner!)
"Who says YOU have to pay for his dates? I
suggest that when he runs out of money, he doesn't
go on any more dates. Do not ever give him money
for his dates. Otherwise you'll have a college
student asking for money for his dates... Suggest
he needs to space his dates to conserve his funds
and find lower cost dates (picnic, hiking, free
outdoor event such as a sidewalk art show. Explain
to him about coupons and free/ reduced events at
the zoos, movies etc. that can be found by looking
on the web or in the local newspapers. Mention
early bird specials for cheaper eats.
For his next birthday you might buy him an
entertainment coupon book. Independent Means
suggests you check out www.StudentAdvantage.com/buyandsave.
And of course the girl could pay her way as well.
Imagine he explained that he would LOVE to spend
more time with her but doesn't have a lot of money
so he would really appreciate it if she would think
up some fun low cost/free things for them to
do.
Remember - his dates are his problem."
Note from Joline:
I just returned from Mexico City where I had a
chance to meet with 100 teenagers, boys and girls.
This topic came up under the heading: learning to
talk openly with your friends about money. It was
clear in this very traditional culture that this
was a worry much on young men's minds - even though
they wanted to show manhood by being able to
"support" their young girl friends, they were
anxious about the how to manage it. The girls were
quite mixed. Many clung to the notion that paying
for dates was "his job." Others saw the fairness of
sharing the costs of dates and time together. This
topic is talked about less openly among young
people, across culture and class, than sex and
drugs. Parents can help by raising the topic often
and helping their kids to find ways to discuss
money with their friends in ways that transcend
what brands they like and are going to buy.
© 2007, Independent
Means
* * *
Some people think they are worth a lot of money
just because they have it. - Fannie Hurst
Independent
Means, Inc. sets the standard for innovative
resources for Raising Financially Fit Kids. Your
kids are developing views on money through your
actions! This month, make a note to talk about
hidden costs - the price of that trip or the car or
club membership that DOESN'T show up on the price
tag. Source: www.independentmeans.com
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