Adam Caroll's Ted Talk on kids and money

[jakubdudek]

I thought this was too good not to share... it's a year old, maybe it's made the rounds already but i just discovered it

https://www.youtube.com/watch?v=_VB39Jo8mAQ

[Metric Mouse]

Love it.

[BuffaloStache]

This was awesome! Great share

[meerkat]

Nice! I like the idea of taking your kids to the grocery store or for back to school shopping, handing them cash, and letting them do the shopping. Has anyone here tried that? I'm curious how it would go. I definitely want to do it with my kid one day, right now he's at the stage where he'd just try to eat the money so it's probably too early yet.

[jakubdudek]

right now he's at the stage where he'd just try to eat the money so it's probably too early yet.

LOL... good one!

[jakubdudek]

... and let them keep the surplus if they have one.

that's a great idea... adding it to my list of "experiments"

[KCM5]

Thanks for sharing.  Good speaker and good message.  I really like the idea of giving your kids a set amount of money for their clothing and see what happens.  I think I will do this very soon and I will show them that they can buy on CL, at a thrift store or at any store but put a requirement on what they need to buy (i.e. 1 pair of shoes, 2 pants etc.) and let them keep the surplus if they have one.

My parents started doing this when I was in about middle school. Worked well - we made one trip to the mall two hours away (I was from a rural area) and were given the money to spend as we wish. I think it was about $100 for the beginning of the school year in the late 1990s. We did do a bit of talking through about what clothes we currently had and what we should need for the school year.

Granted, I was never given the option of a thrift store (that would have been awesome and I totally would have taken advantage of that!). But I always had clothes and was perfectly aware of what my choices got me.

[Metric Mouse]

I definitely want to do it with my kid one day, right now he's at the stage where he'd just try to eat the money so it's probably too early yet.

Maybe he's making a comment on the intrinsic uselessness of fixating on banknotes.

[JustTrying]

My parents did gave me $20/month for clothes and shoes when I was in high school. I loved it. I went to thrift stores and learned how to get the most bang for my buck!

[BuffaloStache]

My parents did gave me $20/month for clothes and shoes when I was in high school. I loved it. I went to thrift stores and learned how to get the most bang for my buck!

My parents gave me a similar allowance, but only if I finished my chores. There definitely were weeks where I didn't get it. They stuck to their guns.