Should parents have a say in kids spending their own money they have earned

Watch Video: Should parents have a say in kids spending their own money they have earned by Gregg Murset, CFP, ...
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Should parents have a say in kids spending their own money they have earned

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So, a kid does jobs, earns money, do parents have any input on what that kid gets to spend the money on? Absolutely. But, you've gotta also be able to let that kid make some decisions for himself. And if they want to go out and buy something that you necessarily - you don't necessarily think they should, let them do it anyways, let them make their own mistakes cuz sometimes, that's the best way for a kid to learn, it's to make a mistake. If they really, really want that really important thing they think, and they save and save and save and they buy that gadget and then two weeks later, they think, 'Really wasn't worth it,' and they have that buyer's remorse that we have all kind of experienced, that's okay because that's how they learn. When you have that buyer's remorse kind of process, that teaches you something. And kids need to be able to have that same kind of experience themselves.

Watch Video: Should parents have a say in kids spending their own money they have earned by Gregg Murset, CFP, ...

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Gregg Murset, CFP

Founder & CEO, MyJobChart.com

Gregg Murset, CFP, is the father of six children, a Certified Financial Planner and the Founder and CEO of the fastest growing website, MyJobChart.com, which teaches kids about work and money.

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