If I Had A Billion Dollars.....

At the beginning of the semester, one class had us do an activity where we chose a paper with a random question we had to answer. It was so we could "get to know each other", even though we've been together almost two years.

My question was : If you had a billion dollars, would you continue to work/go to school? I answered yes. Of course everyone thought I was insane. Why do all that when you have so much money to take care of everything??

I try to stay optimistic, but I also know how the real world works. Did you know that to retire

comfortably you need to save almost $1 million?? Well, now you do.

So if I had a billion dollars, yes you might see me driving around in that lifted F-150 I dream about every night, I'd have all my bills paid, we've live in a nice house with a big yard, and my son would have college already paid for.
Howeverrrrrrr, why would I drop out of college now when I'm soooo close to graduating! Plus, I know myself enough to say that I'd be bored. I'd miss my co-workers (even though they sometimes drive me up the wall), and seeing my favorite customers every day. Getting a boat-load of money won't stop me from wanting to accomplish all my goals.
I guess part of that is the fact that I'm almost done with school and my management training. Why let all that hard work go to waste?

Kids and Banking

A few days ago I posted this article on Facebook and Twitter to see what other moms thought. Well, they weren't too thrilled. Basically, this article talks about letting kids earn an allowance, then putting it into a bank account, giving them a debit card, then letting them use it to purchase things they want.

There's good and bad to this idea.

First, let's talk about the positive! Children are still learning the value of a dollar early on. My son for example loves helping out to earn money to put in his piggy bank. Once he has a good amount saved, we take it to the credit union (this is an important step). My son has a savings account that is for kids; every time he makes a deposit, he gets a stamp on his card, and when he gets 10 stamps, the bank puts $5 into his account. Pretty cool, right?

Now, a lot of moms had worries about their kids losing a debit card, it could get stolen, and the biggest one-- Having a card makes you feel limitless. My view is that the same things can happen with cash. Whether it's cash or card, I would feel safer holding onto it myself. Your child can still get the same satisfaction from saving money then spending it on what they've saved for, that's not going to change.

So... where's the negative? I already mentioned that with lost/stolen cards. Again, if you as the parent hold onto the money, these won't be issues.

Other parent's commented that their children don't get allowances or earn money from chores. This all depends on you, your child, and your finances. If you can't afford to give them money, there's nothing wrong with that. If anything, I'd suggest a savings account for college or the future. However, as kids get older, it's important to teach them about earning, saving, and spending.

When I got my first job at 16, I spent my paycheck pretty fast. I had to contribute to my part of the cell phone bill, but beyond that, I could spend it however I wanted. I couldn't even tell you what I spent it on other than the normal clothes, jewelry, and food. I never saved anything and I never knew how to pay bills myself. Imagine the finance shock I had when I became pregnant! I practically had to teach myself these things.

My point is, I'm sure some of us have had those experiences and thought "I'll make sure my child knows how to do this." First it's coins in a piggy bank, then they'll be buying a car, next college! Showing our kids the importance of these things now will instill these practices into them to use in the future when they are out on their own.

Until next time!