When did you become a “financial grown-up?” There are lots of potential markers (opening a retirement account…buying a house…negotiating a raise…) but most of us want to raise kids who can become financial grown-ups in a reasonable time frame.
To help with that, in this week’s episode of Best of Both Worlds, I talked with Bobbi Rebell, author of the book Launching Financial Grown-ups. Bobbi shares ways to help kids learn about money from an early age, and her advice on encouraging independence over time.
In the Q&A, Sarah and I address a listener question of how we keep track of our calendars without using a digital system (yes, it is possible!). Please give the episode a listen, and as always we welcome ratings and reviews.
The Best of Both Worlds Patreon community is gathering today, at noon eastern, to discuss “Career conundrums.” There’s still time to join! Membership is $9/month (the session will be recorded for people who join after). We have a lot of fun discussing issues of work and life, and know you will too!
I‘m evaluating whether or not to reach out to Ms. Bobbi Rebell Kaufman this year.
Our kids are 19 and 21 but in the high school years we gave our kids an allowance for all their clothes*, shoes, their phone plan and some fun for the Year! And it was theirs to use as they saw fit. One spent a lot on clothes and one did not! He spent it on other things. As they went thru high school we gave them less money — they needed to get a job to keep paying for some things. Added benefit – no arguing about if they could buy an expensive pair of shorts! I did not care – they were spending their clothes money as they wished!
*not “sunday” clothes or winter outerwear or winter boots.
@shelley – thanks for sharing your experience. My husband has been quite opposed to an allowance so we haven’t done that. So far the kids have not been particularly acquisitive so we haven’t had too many arguments about expensive things. We shall see…