Thanks for stopping by! I was once a kid in a family that would not discuss finances. While I have difficulty blaming my parents for my poor financial management earlier in life, there is no doubt in my mind; if they had involved me more, I probably could have avoided many of my mistakes.

As a result of my experience and my desire to see my kids manage their financial lives better we’ve been educating them about financial management since they could walk and talk. Both learned by 4 that the #1 rule is always save 20%. While they have lots of wants they temper their requests and discuss the feasibility of purchases instead of whine and cry and beg for everything they see and want.

My 13 year old doesn’t question the 20% but burns through the rest of his money. My 9 year old has figured out on her own, if 20% is good 30-40% is better.

Every kid is different, but yours might surprise you!

And always keep in mind that being a partner does not mean you have an open checkbook. Everyone must still be held accountable, even the boss!

However, I have to disagree with your thoughts on number 2: My kids would have me in bankruptcy within a year if I took leaned on them for help in making my financial decisions! LOL

Seriously, there is a germ of truth to what I said, and that is why I would never consider my kids “partners” when it comes to helping me manage my personal finances.

Best,

Len
Len Penzo dot Com
Len Penzo´s last blog ..10 Financial Lessons We Can Learn From Baseball