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Author: mgjtaylor One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2674  
Subject: Re: need teenage advice Date: 2/17/1999 7:06 PM
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Hi Jill,

I have a 18 yr old and a 12 yr old. We always had a rule that monies earned they had to put 50% away into a savings acct and money gifted was 100% in the savings acct. It was not untouchable but had to be approved. Both boys have had mutual funds and the oldest used his saved money to buy his first car. The youngest has the benefit of Mom becoming a Fool and he is currently selecting three stocks to invest in. At our local high school the economics class teaches how to select stocks. The kids are given x dollars to invest and they are suppose to reach a certain dollar amount in a given time and that determines there grade. I think you could apply this game yourself. Whoever reaches a certain dollar amount earns x amt of start up money and set up a graduated earning list so none of the kids lose out. As far as what to read I'm giving my 18 yr old "You have more than you think" for his birthday next week and I was so impressed with the book I'm giving it as a graduation gift to some of our long time friends.

This last year has been an eye opener for the 18 yr old since he's broke most of the time. He was offered a cruise or cash for a graduation gift and he has opted for the cash to be invested. He said I don't want to be this broke when I get out of college. We must have done something right ( I'm just can't nail down what it was;-)

Goold luck,
just another Foolish mom
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