Thursday, January 26, 2017

Kids and Money Talk

In mid-December I brought home paperwork that described the details about my salary and benefits. I decided to take a few minutes to show and explain the data to our kids and let them gain knowledge, understanding, and a degree of economic insight. I described the features: cash salary, housing allowance, expense reimbursement, pension - defined benefit and defined contribution, insurance - health, death and disability.

As I explained the data to Kyrie, my 8 year old daughter, Anna, my wife, remarked that it was probably over her head. Kyrie piped up, "it is not, I am interested in this." It wouldn't be long before we knew how interested! 

A couple of nights later we were having a family discussion. Kyrie was being very funny and I began to imitate her. After I mimicked her one too many times she scampered across the room, stood upon my knees and declared: "if you copy me one more time, I'm going to put you on disability." 

She was more than interested, she caught the concepts and applied them.

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