I’m having second thoughts about the way that I’m raising my kids.
Let me provide some background on my kids first, just to give you a point of reference.
- Both kids get straight A’s in school, and do sports and other activities.
- Both kids have good money management skills, thanks to the fact that the both have an allowance.
- Both are respectful and well-mannered.
- People are always telling us how great our kids are.
So what’s my problems? Why am I writing this rant? Am I insane? maybe…
While I pat both my wife and I on our backs about the kids, I have to wonder if I can make it better, especially with respect to finances and entrepreneurship.
Initially, instead of teaching them to work for money, I wanted to teach them first to manage money, then eventually to make money work for them. This is in stark contrast to the way I was raised. I did a lot of chores, and got paid for certain chores. While my kids have to make their beds and occasionally pick up their room, they don’t really get paid for doing chores, per say. And this is my problem. How do they learn to earn money if they aren’t earning money?
I’ll come home and see my kids either watching cartoons or other shows, or creating something (usually drawing or writing a short story), or playing minecraft… To me this is wasted time and energy (although I have to admit, I do like my daughter’s short stories and drawings). How do I encourage their business savvy without making it a chore? I’m starting to wonder if I should require them to work for their allowance like I had to do as kid… In hopes that such an allowance model would make them more money-wise.
My oldest is only 12, so perhaps I’m being to critical. After all, in comparison, I can’t hold a candle to either of them.
I’m the parent, so it’s really up to me to show them the other paths than just watching TV and doodling.
Time to refocus and think.