My boy will be paying taxes!

[cqaigy2]

Congratulations!

 

[Sigarms]

Come summer at age 13 I went full time $50 a week of which $20 went to mom for room and board...

We debated about charging for room and board, but because of my boys history prior to us adpoting them locally, decided agasint to. For the most part, very proud of how far both have come. There is a part of me that wonders how much is "wired" into a child before they hit age 8, and their immediate environment during that time and how it can affect them. The one boy who can't keep ahold of his money seems to wired that the monetary gifts you give equates to how much you love someone (8 years later with us and he still seems to carry some of that philosophy). Always thought that was hogwash, but you have to be careful on how you address the subject.

My first "taxable" job was at 14 working in the local knitting mill after school. My parents charged me rent, but unbeknown to myself until I became an adult, my mother deposited all that money I paid them for rent for later on in my life. Something I didn't ask for nor did I expect, but it's one of the many things I remember about her.

Both boys would like to perhaps buy cars, so we figure after a year working and saving, they may be able to buy something by the start of their senior year (and we've been explaining insurance and gas LOL).

What I find amazing is both my wife have worked full time for the last 25-30 years, and think we don't do to bad for ourselves making ends meet and saving, with only our house and land mortgage being our only debt. Thing is, we live in a rural county, and I can't get over all the new and realy nice cars driven to school by school students. My one son's friend just had his grandfather buy him a pretty decent used truck (nicer than mine). I didn't have a car in high school, and when I finally went to college, I was able to afford a 72 oldsmobile from a friend of my fathers for like $500 (and that was a buttload of money back in the 80's for me).

 

[ultrarunner]

I have to confess... I was the only sibling to pay rent... and I did use it later when discussion came about with my siblings...

One brother got a job at 13 at a ranch in Nevada... the bunk house, horse wrangling and all... so he was not at home when working summers... moved out the day after High School Graduations and never spent another night in the family home.

The youngest flatly said he worked hard all year and summer time is his vacation time... and it worked for him.

Funny thing is the youngest is the most successful... he has a knack making deals and
for getting others to do things and which makes for a great manager!

My Dad was a born in 1927 and took a paper route and odd jobs turning all the money over to his folks in the depths of the Depression... so I kind of got the same line of thinking... which is OK because it made hard times real to a kid like me...

In college we all got the same offer... free room and board at home and books with good grades... I took the folks up on the offer the others really didn't want "Under our roof our rules"... so they paid their own way through college but the book offer was for all.

The youngest had friends that lost roommates and were desperate to keep the apartment... the youngest made a deal... lowest rent, best room and private bath..

Cars in high school... we were just glad to have wheels and most of the guys were always working on their rides... only two had new cars and both worked at gas stations... brand new Trans Am and the other a 4wd pickup... times sure have changed.

Almost universal for my co workers the daughters get brand new cars... mostly Civic or Corolla... the reason being the parents feel a new car is the safest and most reliable and warranty... most sons barter for an upgrade putting in their own money to make it work...

The old High School parking lots around here have no or very few old cars... and kids drive Tesla, BMW, Jeeps, etc...

 

[Sigarms]

My Dad was a born in 1927 and took a paper route and odd jobs turning all the money over to his folks in the depths of the Depression... so I kind of got the same line of thinking... which is OK because it made hard times real to a kid like me...

Funny, my father was born in 1931, and was the baby of the family with 10 siblings. Since my dad is now living with us, love to hear his stories. Dad's "pop" (my grandfather) was a coal miner in a coal mining town. If you ever have the chance to tour a coal mine, ask about the "bootlegging mines". Apparently my dads side had their own bootlegging mine for the family used for heating their home. Dad, being the runt of the family (being 5'2 fully grown) helped his pop in the "family mine" because he was so much smaller than his older brothers. Listening to his stories, don't think OSHA would approve of what a 7 year old would being doing working underground handling blasting caps LOL

Myself growing up, my dad spent 25 years in the military, worked another 15 years in the private sector, then worked another 10 years for the state in a liquor store. I always thought my parents never had money growing up. The only house my parents bought after my dad got out of the service was a modest 3 bedroom 1,200 sq ft house. I knew we didn't live in poverty, but we never had/owned anything really "nice" (NEVER a brand new car) and I never got really "cool expensive" christmas presents when we were with the family during the Christmas holidays (I was always in envy of some of the gifts my cousins got to be honest).

Thing is, when I see where some of those same cousins are at now in life not knowing how to handle money, I'm grateful for what my parents had done (there but for the grace of God go I).

Last night my wife and I were documenting videos we had converted electronically from old 8mm and other older digital video formats for my dad so he can watch them on TV. Thing I never realized growing up was that I always had what I needed, and when I moved out of the "home" back in the late 80's, the thing is my parents always took vacations every year (even when I was living with them as a kid that I took for granted) and the fact is my parents enjoyed their time together after I moved out and they never owed a dime to anyone for anything, including our family home.

My dad living with us will still re use his same tea bag for 2 or 3 days that sits on our kitchen counter :

Somehow we want to install that philosophy into my own boys. Thing is, both my wife and I have worked in our careers for over 25 years and do ok for ourselves (a lot better then all of our grandparents combined most likely), and still trying to figure that out. Don't spoil our kids by any means, but the issue is my father wanting to spoil the kids ironically.

When my wife and I got married in our mid 30's, we paid for the wedding in full. No loans. I see kids today with 150k plus student loans and wanting to spend an easy 20k on weddings after they graduate and owe money and scratch my head.

 

[ultrarunner]

Growing up we always had what we needed but eating out was once a year on your birthday instead of a party...

Dad was always working which is typical in sales.

Never had a soda until I was 17.

I remember only child across the street always on the go and working mom bringing home takeout...

When Dad bought something he often opted for quality... summer projects were the rule, roofing one summer, painting outside another, inside another...

Building skill sets...

Never a new car and mom drove the same $800 car for 20 years... and never a complaint.

 

[Sigarms]

Never a new car and mom drove the same $800 car for 20 years... and never a complaint.

Added the fact that in a combined driving exerience of over 60 years between my wife and I (added my wife only had one new car in her life, when she relocated to NC, and that car was totaled due to how new the car was with low milage) along with our own experiences with only buying used cars, feel no need to buy a brand new vehicle for either boy.

Still remember working in the bad section of DC where it seemed the "high end" cars cost more than the homes where the car was parked, which made no sense to me.

A car is a privilege not a right. For me, a vehicle is never an investment, it gets you from point A to point B, and it beats walking