"Have them take the very first paycheck and... blow it... Here's why I suggest having them spend it: They get to experience the benefits of hard work and have some fun. After the first paycheck, here's how to handle every other paycheck, for the rest of their lives. I call this the 10 by 4 solution. With each and every paycheck, take 10 percent and put it in four different places."Have them save, give away, pay off debt, and save for something specific with 10 percent of every paycheck. The remaining 60 percent can be used to pay off bills, spend going out with friends or going shopping for the latest fashion trends. Read more at ParentingIdeas.org.
Labels: working, responsibility, money
Posted By: Aspen Education Group