Sunday, June 07, 2009

The apple fell far from the tree

Managing money is not my forte... I'm pretty happy spending whatever I have. As a parent, however, I want my kids to be more adept in this (as well as all areas). I think that I'm okay with 8-year-old Floyd.

Recently I borrowed $10 from him, to be paid back the next day. When he gave it to me, however, he said that I had to pay him for it. (He meant interest, but I don't know if anyone has told him about interest). I said sure, how about 50 cents--5% for an overnight loan. No, this little loanshark said $1 or nothing. While feigning outrage, I was pleased that he's thinking about money.

1 comment:

Ben Byerly said...

I love it.

Our girls have jointly decided that they want to save up for a DS by Christmas. They are offering to do a lot more errands for pay, and trying to think of any other way get extra money. They no longer use their change to get candy. So far they've saved about 70 shillings--almost a dollar. ;-).