Home Uncategorized • My kids had a paper route when they were 12 and have had accounts and debit cards since that time

My kids had a paper route when they were 12 and have had accounts and debit cards since that time

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Generally we teach them to donate 10% and then split the balance of their cheque 20-80. 20% is blow money and 80% is for education – or home down payment – or wedding (big life items).
My eldest has put herself through University (currently in 3rd year) and has the money in the bank for her 4th year already.
Our middle child just bounced her first cheque at 18 and was a mess for days. She had the money, just moved too much into savings not realizing that cheques do no come in and out in a week necessarily. Ahhh life lessons. Our youngest is very frugal and only had a paper route and babysitting jobs to date. Her Dad is taking her out today to apply at KFC, McD’s and a few other places. She is 16 but looks like she is 8 years old so I think it will be a challenge for her to get a job since she can barely see over the counters of most places. I have no idea how she is going to manage driving but she has been great with a chequing and debit card.

Author:AMA