Status Updates From Make Your Kid A Money Geniu...

Very interesting ideas

How does anyone have time to do adulting?

So that’s what those investment abbreviations mean

Is it a want or a need?

Uhhh the median 1st house price is $170k, what utopian place is this?

Enjoying the concept of the book so far.
I like to recommendation to keep house chores and allowance separate. Chores are not work, they should be seem as helping each other.

Later on, not doing a chore may be worth $5 to the child!!

حتى هنا و ينتهى الكتاب فعليا ..الباقى شكر و عرفان ...و اسم كتب اخرى للاستزادة ...

My thought, introduce budgeting increasingly over time, when young, weekly or just talk to them, college month lump sum and that’s it

Don’t pay for your kid’s grades

Always pay an independent mechanic to inspect a new car purchase

No credit cards until junior year of college, you don’t need to start building up your credit when you start college

Don’t pay for the car for your kids, college expenses should be first, you could match but don’t co-sign a loan

Take your kid to purchase big ticket items and explain how you pay for it

Show kids what it costs when something is put on credit and invites interest

Good to give kids cash, better to learn
And teach them about net worth

Don’t give your kid your credit card number, ever (certainly when they are younger)

Your kid should never give out personal information online, ever

Have your kid fund a Roth IRA if at all possible

Can pay for jobs outside of normal tasks but not chores, especially if they are helping offset costs or doing something to generate money

Let kids help set the consequences for not doing chores

Example “in this family, we do what we have to do before we do what we want to do”

Let your kid move back home if she saves

Don’t buy until they have money for them, not credit!

Help make kids savings automatic

It’s good to have your kid help pay for things that are extra, even if you can afford it

Good to let your kid know early (HS) that they will be chipping in for college (and it’s recommended that they do chip in some, even if you can pay for it)

Consider NOT using an online bank in middle school, physical bank interactions are important to understand the process

No Chores linked to money!!

Use cash not other things, especially before college (certainly before HS)

Consider a matching plan