Hello, Wine Ebers. My name is Jesse Meekam, and this is podcast number 129 for you need a budget where we teach you four rules to help you stop living paycheck to paycheck, get out of debt and save more money.

Today though, how do you keep your kids from ever getting into the

paycheck to paycheck cycle, getting into debt, and not being able to save money? That

is a question that I've addressed often in the past. I wrote a fairly lengthy

blog post. It was probably a couple years ago explaining how we use WINAB with our kids and the kids are all basically one master category and then each

of them has three subcategories so we would have Porter-Dash Fun, Porter-Tithing

Porter-Dash savings and we would run all of his money through there

so when he earns money we can easily just split it up between those three

categories we try and teach him to save pretty aggressively and

save for long-term stuff like college and things like that. His fun money he

uses to save for anything else. The problem that I ran into, well not that I ran into but I was

talking with one of my good friends Nate Williams and we were I believe floating the Rogue River and he

disagreed with my approach he felt like the kids should be more in touch with

their money that they should have to control it themselves physically and be in

charge of keeping it safe and remembering it when they wanted to buy something and things like that

and it got my gears turning. I'd

also noticed that our kids weren't particularly ready or I don't know how I

should say this they weren't feeling it. So when you said, hey, you could earn a dollar, it was like, well, that dollar just goes in the budget and, you know, it just, there was no connection. The upside of having WINAB with your kids kind of interwoven in that is when you're at a store and the kids say,

hey can I have this, you just pull out your iPhone and you say, well, here's your fun money balance it's 17 cents so let's check the price

that was good but Nate countered by saying well you know if they forgot their

money then you can say, oh buddy, rats, you forgot your money, that's too bad.

Next time, bring your money and we'll make sure to get that.

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