Teaching Your Children the Value of Money
Here’s a family story for you:
When my dad was 16, he wanted his own car. His parents wanted to buy it for him, but they also wanted to teach him that, if you want something, you have to work for it. So, they purchased the vehicle for him and made him pay them back in monthly installments. After my father handed them the final amount he owed for the car, they handed him back everything he had given them. Thus, they were able to spoil them with a gift (just like they had wanted to), but they also were able to teach him a lesson about money.
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