Giving Kids Money

Yesterday I was sitting in my car with my 8 year old son, Kyson, and he asked me,

“Dad, can I have this pile of change?”

‘Sure son, you can.’

Then I thought for a moment.

When he grows up, he’s going to be responsible for providing for himself and his family and I want to do the best job I can in helping him get prepared for that.

It hit me that giving him money might not be the best way to do that.

So I said, “Kyson, how about we do this instead.

Remember that day a few weeks ago when you raked up all those leaves in the front yard?”

“Yes,” he replied.

“How about I give you this money in return for the service you provided for me that day.”

A big smile spreads across his face and his eyes light up as he nods his head in excitement.

What’s that old saying?

“Give a man a fish and and feed him for a day, teach a man to fish and feed him for a lifetime.”

Napoleon Hill said, “remember that your real wealth can not be measured by what you have, but by what you are.”

When you give a kid a dollar, you may have increased his bank account but what have you done for the account that’s kept inside?

And maybe this is why, just giving kids money, might not be the best way to actually help them prepare for a prosperous future.