Comments on: Kids and Money: Our Decision to Let Our Impulsive Spender Fail http://lenpenzo.com/blog/id641-kids-and-money-our-decision-to-let-our-impulsive-spender-fail.html The off-beat personal finance blog for responsible people Fri, 30 Jul 2010 18:27:26 +0000 http://wordpress.org/?v=2.8.4 hourly 1 By: J Roberts http://lenpenzo.com/blog/id641-kids-and-money-our-decision-to-let-our-impulsive-spender-fail.html/comment-page-1#comment-10320 J Roberts Fri, 23 Jul 2010 18:45:11 +0000 http://lenpenzo.com/blog/?p=641#comment-10320 Julie, Hi, even if you go a little 'off track' at least when you had the groundwork did you find you had some of the tools to get the ship righted again. Some of the kids today get into that situation and have no idea what happened and how to start to fix it. All we can really do for our kids is give them some tools, ethically, morally and hope they turn into hardworking honest adults. Julie, Hi, even if you go a little ‘off track’ at least when you had the groundwork did you find you had some of the tools to get the ship righted again. Some of the kids today get into that situation and have no idea what happened and how to start to fix it. All we can really do for our kids is give them some tools, ethically, morally and hope they turn into hardworking honest adults.

]]> By: Julie http://lenpenzo.com/blog/id641-kids-and-money-our-decision-to-let-our-impulsive-spender-fail.html/comment-page-1#comment-10313 Julie Fri, 23 Jul 2010 15:59:12 +0000 http://lenpenzo.com/blog/?p=641#comment-10313 I was a huge saver when I was a kid in the 70s; I just stuck birthday money in the bank. At one point, I had over $1000 in the bank, and it was more than my mother had at the time. However, once I left the house and started college, and started working (actually, I started working at age 15) and got a credit card, forget it. I got into debt. It was like a switch of "Why Wait?" got turned on in my head, and boom! I'm still recovering from that switch being turned on. It's not easy. My point is, even if you're a saver as a child, it's not always true that you'll stay a saver when conditions change when you're older. Or vice versa. I was a huge saver when I was a kid in the 70s; I just stuck birthday money in the bank. At one point, I had over $1000 in the bank, and it was more than my mother had at the time.

However, once I left the house and started college, and started working (actually, I started working at age 15) and got a credit card, forget it. I got into debt. It was like a switch of “Why Wait?” got turned on in my head, and boom!

I’m still recovering from that switch being turned on. It’s not easy. My point is, even if you’re a saver as a child, it’s not always true that you’ll stay a saver when conditions change when you’re older. Or vice versa.

]]> By: Len Penzo http://lenpenzo.com/blog/id641-kids-and-money-our-decision-to-let-our-impulsive-spender-fail.html/comment-page-1#comment-10295 Len Penzo Fri, 23 Jul 2010 00:36:36 +0000 http://lenpenzo.com/blog/?p=641#comment-10295 Thanks, J, for the vote of confidence. So far it looks like we are batting .500 too, although we've still got time to turn Matthew around. Thanks, J, for the vote of confidence. So far it looks like we are batting .500 too, although we’ve still got time to turn Matthew around.

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