Elise Nacion is a mom from Bellevue.
My video application:
A bit about me:
I am homeschooling mom in Bellevue, Washington. I have lived in Washington for 6 years.I have 3 teenagers, a sixteen year old, and boy/girl twin age thirteen. I have been married to Bruce for 23 years.
My blog post:
Kids and money
Something I am very passionate about is training my children how to handle money. Our children are in their teen years. They have an allowance or paycheck, as I like to call it, because they have to work to earn the money we give them. The money they earn is not a straight out payment. There are three deductions from their earnings. These consist of 1) a tithe which is given at church, 2) a deposit into their savings, and, 3) a deposit into their Christmas fund.
Giving our children paychecks allows them the freedom to make choices with their money. They need to decide whether to spend or save for something. It also gives them the chance to be generous. My younger son is saving for an airsoft gun and will NOT spend any money on anything. There are times when I give my kids the chance to spend money and tell them, " OK, you can spend your money and get a slurpie today." My younger son refuses to buy one. He has definitely learned that sometimes you have to sacrifice to get what you want. Very admirable. My older son or his twin sister sometimes will give him a sip of theirs or on other occasions they have each bought him one out of their own money. It warmed heart to see my children practice giving to one another. My younger son reciprocates when he finally makes his intended purchase as well.
There are also lessons that are not so easy to observe. Last week I watched my daughter spend her entire paycheck after deductions on a lunch date she had with her friend. Afterward, she was quite dismayed at how much a meal costs at McDonalds and said she would go to Jamba Juice next time as it was healthier and less costly.
The pay period prior to this my daughter bought something and had to borrow a dollar from her brother. I remember hearing her say how much she hated being in debt. I was very grateful to hear that knowing that I had to learn that in my twenties.
On the other hand, my older son. who has a job in addition to receiving a paycheck from his parents, now has to use a notebook or ledger to weekly record his purchases to combat a liberal buying spree that Mom happily apprehended.
I am thankful that we are giving our children money and time now to practice good and bad spending and saving habits. I would rather them work out all the kinks with their "paychecks" now during adolescence that when they are 25 or 30 or older and playing with big responsibilities. Even if they blow it now they don't have to worry about car payments, mortgages, and credit ratings. I am hopeful that the foundation we are giving them will encourage them to learn more on how manage their money and make it work for them.