Personal Finance Homeschool Style
Now that the boy is 13 we've opened a teen checking account for him. Before this he had a prepaid card and I just put his scant allowance on it each month and pressed forward. The problem was, he still wasn't figuring out what to do with his money. Since we are getting our house in financial order I figured it was a great time to teach him too. We don't have a curriculum. For things like this all you need is perseverance, patience, and something else that starts with a 'P'! I kid - just some common sense helps. He has a savings account already, so when he was old enough we made our way to the bank to get that checking account started. When we got home I made a separate budget for him in our budgeting program, taught him how to make categories for things he wants/needs (ok just wants at this point - we take care of the needs, he is still a kid after all), and how to check how much money he had before he spent it. When the statement came we reconciled. We opened the ...