If this were your teenager, what would you do? A Wall Street Journal reporter and his son had a dispute over who should pay for the kid's new guitar strings? The dad thought the kid should; the kid thought the dad should. After all, the high school senior argued, the family has enough money. Why should he have to spend his own?
The two write about their disagreement in the first of series of columns about money matters with kids. The father writes his perspective, the son, his.
While the teens are still a handful of years away for my oldest, I'm already unsure about money matters involving her: allowance, how much, what she should be expected to save, what she shoud buy herself, etc. On the one hand -- it's great having the power of saying "yes" and "no" right now. Only because I get to pretend I'm instilling my values in her. (Yes, you more thoughtful readers realize pushing kids around is no lesson at all.)
So what do you plan to do to teach your kids about money? Considering today's news about more banks melting down -- and then on-going story of way over-extended families -- what's the lesson? And how do you teach it?
Because I'm inclined to agree with the father's first response, which was the budding Jimi Hendrix could pick up his own strings. The father caves at the end, since the son pointed out that Dad doesn't hesistate to pay for the piano to be retuned and that he was likely being a musical instrument bigot. Still. Won't the kid take the guitar with him to college? It's his guitar! It's likely the family's piano.
Photo: rd.com