Daily Excerpt: Clean Your Plate! (Bayardelle) - Chapter 1: Need any money?, Part 3
/ Excerpt from Clean Your Plate! (Bayardelle) - Chapter 1 Do You Need Any Money? (continued from November 22, 2024) The Need for Need We’ve discussed the “supply” end of your kid’s finances, but the “demand” side should also get a little bit of attention. The point of having a financial system is to teach your kids how to manage their money as an adult, but they don’t have those pesky expenses we have as adults. We grown-up folk go to work every day because without our salary we can’t afford things like food or rent. This is a pretty significant motivator. Unfortunately, there’s no driving force quite so urgent in your child’s financial ecosystem. No matter what chores they do (or don’t do), you’re going to pay for their food, housing, school, and other necessary expenses, so why bother taking the garbage out? This is when the art of creating valid needs comes in. You never want to deprive your child of the necessities, b...