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The Water Cooler
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Teaching your kids financial responsibility
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<blockquote data-quote="whiskeysnoot" data-source="post: 2774597" data-attributes="member: 4542"><p>In my personal experience, Dad had me mowing yards when I was 9 y.o. He always said that he would provide necessities but if I wanted the fancy Nike shoes, the stereo, the cool bike, that I could pay the difference. When I was 15 he cosigned for my first car loan with the condition that if he ever made a payment it would become his. He said that a person most likely cannot save enough to pay cash for what they needed but with good credit can do anything. I started working in public sweeping floors at 15. Worked 30-40 hours a week during high school while keeping 3.5-3.8 GPA. At the end of school I had paid off 3 vehicle loans. At 19 bought my first house with no cosignor. I'm 45 now and only payment I have ever been late on was oversight, just plain forgot. Bottom line, he taught me very early work ethic and financial responsibility. Of all the great things Dad did for me that one there has made my life much easier.</p></blockquote><p></p>
[QUOTE="whiskeysnoot, post: 2774597, member: 4542"] In my personal experience, Dad had me mowing yards when I was 9 y.o. He always said that he would provide necessities but if I wanted the fancy Nike shoes, the stereo, the cool bike, that I could pay the difference. When I was 15 he cosigned for my first car loan with the condition that if he ever made a payment it would become his. He said that a person most likely cannot save enough to pay cash for what they needed but with good credit can do anything. I started working in public sweeping floors at 15. Worked 30-40 hours a week during high school while keeping 3.5-3.8 GPA. At the end of school I had paid off 3 vehicle loans. At 19 bought my first house with no cosignor. I'm 45 now and only payment I have ever been late on was oversight, just plain forgot. Bottom line, he taught me very early work ethic and financial responsibility. Of all the great things Dad did for me that one there has made my life much easier. [/QUOTE]
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