My daughter is in the AVID program, a thing I know very little about tbh, other than that they do an EXCELLENT job of Real Talk financial education, particularly when it comes to college. They recently did a project in class comparing the attendance cost for the top 5 colleges attended by graduates of her HS (just because I think it's interesting, they are University of North Texas, UT Dallas, Texas Tech, University of Arkansas, & University of Oklahoma).
As a single mom to an only child, I feel an extra urgency for my daughter to know as much as possible about my/our financial situation since if/when something happens to me, she will be neck deep in it whether she wants to be or not.
Still, from talking to her, I have my doubts that any kid bringing home a $150 paycheck from their $9/hr job can, as you said, even contemplate the difference between $25K and $50K...like those are both pretty much made up numbers to her? Still necessary, though! I do think breaking it down into monthly payments helps quite a bit, but again, they don't really think in terms of monthly income vs. monthly expenses yet.
I also think hiding finances from kids helps create the issue many people our age complain about when hiring young people, which is that they expect an unreasonable salary/standard of living right out of the gate. How are they supposed to know what to expect if there's no openness about how much someone with 20+ years of experience is making/able to save?
Anyway, great post! I am also not at ALL confident I could adequately explain scissoring to ANYONE, much less a 10-year-old; YOU ARE A HERO lol.
Thank you for telling us what the position was. I thought for sure it would be 69, because I was a jerk in college who would pretend to not know what it was until some poor fool (once my brother!) drew me a picture.
I also love that you are talking about money. We just bought our first house six months ago and are very open about how much it cost, what our mortgage is, with everyone. I have also been forthcoming about the taxes we unexpectedly owe this year, because there shouldn't be any shame.
THIS!!! I truly believe these conversations are life-saving and more important than many of the convos traditionally had. Money means choice and freedom. Not teaching kids how to navigate it robs them of both. -Signed, a kid who learned the hard way who is now a kid-less adult who wants to see this change!
My daughter is in the AVID program, a thing I know very little about tbh, other than that they do an EXCELLENT job of Real Talk financial education, particularly when it comes to college. They recently did a project in class comparing the attendance cost for the top 5 colleges attended by graduates of her HS (just because I think it's interesting, they are University of North Texas, UT Dallas, Texas Tech, University of Arkansas, & University of Oklahoma).
As a single mom to an only child, I feel an extra urgency for my daughter to know as much as possible about my/our financial situation since if/when something happens to me, she will be neck deep in it whether she wants to be or not.
Still, from talking to her, I have my doubts that any kid bringing home a $150 paycheck from their $9/hr job can, as you said, even contemplate the difference between $25K and $50K...like those are both pretty much made up numbers to her? Still necessary, though! I do think breaking it down into monthly payments helps quite a bit, but again, they don't really think in terms of monthly income vs. monthly expenses yet.
I also think hiding finances from kids helps create the issue many people our age complain about when hiring young people, which is that they expect an unreasonable salary/standard of living right out of the gate. How are they supposed to know what to expect if there's no openness about how much someone with 20+ years of experience is making/able to save?
Anyway, great post! I am also not at ALL confident I could adequately explain scissoring to ANYONE, much less a 10-year-old; YOU ARE A HERO lol.
Thank you for telling us what the position was. I thought for sure it would be 69, because I was a jerk in college who would pretend to not know what it was until some poor fool (once my brother!) drew me a picture.
I also love that you are talking about money. We just bought our first house six months ago and are very open about how much it cost, what our mortgage is, with everyone. I have also been forthcoming about the taxes we unexpectedly owe this year, because there shouldn't be any shame.
THIS!!! I truly believe these conversations are life-saving and more important than many of the convos traditionally had. Money means choice and freedom. Not teaching kids how to navigate it robs them of both. -Signed, a kid who learned the hard way who is now a kid-less adult who wants to see this change!