Money and kids

Money isn’t everything, but it sure helps you keep in touch with your children.
J.Paul Getty

My son got his driver’s license earlier this year. Seismic ripples are still shaking our house. I’ve decided that it is not the direct effect of him being behind the wheel that is responsible for the change in the landscape; it is the rapid expansion of independence.

My son has quickly grasped that autonomy of movement is worth little without a measure of financial independence. We require our kids to go through the exercise of calculating how much it costs to be them. We try to get them to pay attention to not just how much they spend, but how they spend it. The tug of war over who pays for what might seem academic, since we are the source of virtually all funds. Such a notion overlooks that what comes out of their bucket is valued differently than what comes out of our bucket.

In truth, we sharpen their creativity in hiding their expenditures in parentally pleasing categories. "My, but you have allocated a lot of your monthly resources to books!"

We decided to adjourn round one of budget negotiations when my very successful wife declared she wanted my son’s job.