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Money Advice From Kids
By JLP | May 21, 2006
Steve Rosen’s column today in the Kansas City Star is about money tips he received from kids who entered an essay contest. It is nice to know that not all kids are in the dark when it comes to personal finance. My favorite piece of advice:
Joshua Ames’ essay focused on the importance of learning to manage money while you are young. At 14, he already shows an understanding of the relationship between practicing good money management skills while young and being more financially comfortable later in life. He suggests that parents help their children open a savings account, and put half of everything they earn into the account. “The decisions we make now,” Joshua wrote, “will shape our lives in the long run.”
And the funniest:
Phillip Morris learned a valuable lesson after his father borrowed $135 from him to buy a snow blower. Although dad repaid the debt, the experience seasoned the fourth-grader. “Never loan your parents money,” Phillip wrote. “Once they find out you have money, it’s all over!”
Kids! Ya gotta love ‘em!
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