After posting that it’s important to teach your children about finances, I thought I would write an article about how to go about it – and since I don’t have kids of my own, I went to visit a friend who has a teenage boy who is excellent in this area. I figured that he must have spent hours coming up with a plan to have him understand so much about saving and personal finances at such a young age.
“So, can you give me an outline of how you went about teaching him?” I asked.
He laughed. “I never did a thing,” he said.
“Then where did he learn so much?” I asked.
“On his own,” he said and then told me the following story: