ZARI BANKS
  • Home
  • About
  • Schedule a Call
  • Wisdom
  • Shop

Teaching Teens About Debt

7/7/2016

Comments

 
Picture
What you see above is a record of debt owed to me and payments made by my son. Earlier this year he wanted to make a large purchase that was outside of his current financial ability, and he approached me for credit.

We discussed it and I agreed that it was a worthwhile investment for him because the product relates to his income source and one of his dreams (future goals), and because it was a lesson on debt that I want him to internalize ASAP. You know, it's one thing for me to repeatedly say don't get into debt, and another, more powerful thing for him to experience it.

This isn't the first time he's experienced being indebted to me for a purchase, of course, and obviously owing me hasn't hit him hard enough just yet so I'm thankful the opportunity presented itself again while he's still under my charge. I was inspired to write this post today (6.29.2016) because he came to me and asked for money, and I happily replied, "I will not loan you anything else until your current debt is cleared." And let me tell ya ... he put in an hour's work to get back on track settling this debt because he doesn't want his bank to remain closed.

Folks have asked me about giving allowances and how I determine how much to pay him, and I'll share that with you in a future post later this month.

My most-popular mentoring session is The Financial Breakthrough. If you're in need of a money turnaround. Don't wait another minute. Schedule with me today to prepare for increase in your future.
Picture
Comments

    Zari Banks, M.Ed

    Life-Hack Strategist

    Picture
    Picture
    Picture

    Archives

    March 2020
    February 2020
    January 2020
    March 2018
    January 2018
    December 2017
    October 2017
    September 2017
    August 2017
    July 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014

    Categories

    All
    Attitude
    Authentic Self
    Breakthrough Toolbox
    Business
    Change
    Coaching
    Communication
    Confidence
    Conflict
    Convergence
    Courage
    Creative Power
    Decision Making
    Deliverance
    Desperate
    Destiny
    Discipline
    Dreams
    Emotional Intelligence
    Entrepreneur
    Failure
    Faith
    Fear
    Finances
    Focus
    Future
    Goals
    Honor
    Inspiration
    Intentional
    Investment
    Mentees
    Mentor
    Mentoring
    Mindset
    Money
    Motivation
    Networking
    Parenting
    Passion
    Planning
    Purpose
    Questions
    Quotes
    Relationship
    Running
    Self Control
    Serving
    Success
    Teaching
    Testimonials
    Training
    Volunteer Work
    Wisdom
    Word Power

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • About
  • Schedule a Call
  • Wisdom
  • Shop