Loading ...One thing my Father never did was confiscate my money ! He knew I earned it and didn’t want to do anything to discourage that.BUTTTT there were times when he needed money .When I was 14 he was entering a business partnership and was in need of money.He found out I had $3000 in the Bank and was relentless in trying to persuade me to loan it to him. I did because I knew if push came to shove I was still a minor….So I lent him the $3000 …but I asked him to sign a promissory note and he did. .
I knew previous business partnerships didnt end so good and I needed some documentation in case everything went wrong !
He barely was able to pay me back ,but he did with interest (that I didnt ask for) I was pretty good at ascertaining his ability to pay me back ….
I learned a lot from the experience and never took or confiscated any of my 4 childrens earnings even when they worked for me . THey learned how to manage money because THEY had EARNED it …It wasent an allowence or a stipend or anything that wasent earned. When they turned College age they even volunteered to pay as best they could their own way in college .I certainly assisted as did my Father on one occasion. They worked while in College and still got top Grades…what they really learned was they were capable of a lot more than they themselves thought. ….They knew when they spend their hard earned money its a lot different than spending someone elses money !..Maybe Oblabla shoulda had to earn some of his own …..Instead of getting Grants and free- bees…. He ‘d be spending it differently ,taxing less….