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Re: Checks
Board: Money and Investing
Reply to: #924075 by Crazyolis
Apr 11, 2016 7:54am
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I write checks (piano lessons, skating coach, Scholastic book orders) all the time, but I'm not sure a sixteen year old would need to. And checks are so expensive to order!

Your teaching him to be financially responsible is far more important than whether it's checks, credit card, or gas card. He'll learn from your example, and maybe mess up a few times as he finds his way. Better when the stakes are low.
Re: Checks
Board: Money and Investing
Reply to: #924124 by Green Tortuga
Apr 11, 2016 1:01pm
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Haha. If her teenage son is still around writing checks by the time the next century rolls over, then more power to that old man!
Re: Checks
Board: Money and Investing
Reply to: #924075 by Crazyolis
Apr 12, 2016 10:23pm
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Teach him responsible financial behavior. I would definitely start my kids with using plain simple green cash. Let them feel and see the cash. No cards, no checks, no speed pass! All cash. It seems that young kids don't fully grasp where the cash is coming from and they believe it is endless. Teach him how to earn that green stuff, how to save it in his personal account, how to create and stick to a budget, and how to withdraw the money when he needs it. Teach him the benefits of compound interest and the downfall of getting into debt. Being able to get in debt to "build credit" can come later. Good Luck!