Financial Teaching -- More from Jane
Jane is bringing us more insight into older child adoption this month. This was something I never had even thought about. Thanks, Jane. When we adopted N. at the age of 14, there were times when I felt panicked. All those life lessons that we spent 18 years teaching our biological children have to be condensed into 4 or 5 years. It feels overwhelming at best. So here's our experience with teaching the value and necessity for money in her new life. We began by giving our daughter an allowance and, to our relief, she isn't a shopper. Not into clothes or malls, she had no interest at all in spending. However, when she DID spend, she spent freely, not thinking about the cost or value of her purchases. For the first year or so, it was easy not to talk about saving or budgeting. However, since last summer, N. has had a part-time job at the local grocery store: her paycheck goes directly into her savings account. But then one day we realized that she had no concept at all about the va