Ever wonder how to raise your kids if you have money? Here’s tomorrow’s WSJ personal-finance article–and a question for you.
The goal: to get your kids to make tough financial decisions. If they are always asking you for money or they are merrily racking up charges on the credit card you gave them, their desires will be limitless and spending will seem painless, because they aren’t paying — you are. What to do? You have to set up a system where, instead of you saying “no,” your kids have to say “no” to themselves.
Read the entire article here: Giving Five-Year-Olds a Toy Allowance:
How to Teach Your Kids About Money
That’s why when I’m rich, I’m going to make my kids wear god damn paper towel for shoes. I WANT THEM HUNGRY FOR SUCCESS!!!
Seriously though, what do you think about his idea about paying for his kids’ college? I have my own views (which may surprise you) but I’m interested to hear what you’ll do for your kids’ education. Thoughts?