Topic: Money
Following are the questions our readers asked on this topic. To view our expert's answer to a question, just click on it.
- My daughter works a part-time job to help out with her college tuition. She's applying next year. But realistically, what would she have to earn to make a significant contribution? Is it worth the time she spends away from family and volunteer activities?
- My 14-year-old son recently racked up $200 in cell phone charges for browsing and downloading games, music, and video to his phone. We have since put a block on his cell so that he can no longer do this, but what would you consider to be reasonable punishment? It seems that we always resort to "grounding", which means that I have to listen to him whine and waste my time at work to make sure he's doing what he's supposed to. Frankly, it's not working. And he doesn't seem at all sorry for what he has done. Instead he spends his punishment time complaining, not doing his chores, and saying everything is stupid. This isn't the first instance of his running up charges. About six months ago he ran up $250 in cell charges for text messaging. His excuse: he wasn't aware that it wasn't covered on our plan since all of his friends had free text messaging (and about $200 of the charge was from text messages he was getting rather than those he was sending). We grounded him for two days, gave him the benefit of the doubt, and made him give up the phone until we added text messaging to our plan. He also ran up $200 in iTunes charges on his iPod last summer, and in that case we sold his iPod to pay for the bill. He has since saved enough money to purchase another iPod. He is obviously not learning from the punishments we have enacted and I'm not sure where to go from here. Any advice?
- I am considering giving my 14 year old son a clothing allowance to help him learn how to budget, delay gratification, and to not spend money he doesn't have. My fear is that he will spend his entire budget on a few expensive things he really wants and then when his pants don't fit anymore he won't be able to afford new ones and I will have to buy them (he has to have pants). Is this a good or bad idea? Also, should I make essentials like socks and underwear his responsibility?
- I am a single mother and have had financial loses from a business failed venture I was forced to liquidate my 401k and the boys 529 funds 4 years ago in fear of a bankruptcy pending. I did not file but sold the business for a loss and then have lost 2 jobs since >I now am in school full time. My ex husband took me to court twice over this matter and a social security benefits issue. He is disabled and receives social security and so do the minor children. I had a bad out come from both court dates and we share joint custody but somehow I had the choice of either paying him child support or give the social security benefits to him. I am currently in a foreclosure and bankruptcy pending because the judge ordered me to pay back the funds which at this time I can not. My oldest son now 19 has moved out of my home and is attending college. He was offered a full scholarship to play football but turned it down and choice a different college to attend. In essence I was sued by my son for the repayment. I blame him and his father for my new added losses. what should I do as a parent now with this older son? He hasn't talked to me much since the court thing and now realizes he won't get anything and I now have to move out to low rent income.I told him he was selfish to put us through more stress I have a boyfriend who loves me and had been paying my house payment for me.my ex and son thought he should pay back the money especially if we chose to get married after I graduate from college in 2 more years.Should I reach out to this son or let him figure out the toughness of life and difficulty many are facing now.
- My 17 year old has recently started applying for jobs at various stores in our mall and area. On each application they ask for her social security number. Many times, these applications are then handed in to whomever is working at the counter....which most often is a teen....and not necessarily the manager of the business. My question is this.....in this age of identity theft, is it ok to leave the ss# blank and provide that information if and when she gets the job? Time and again she is handing out paperwork which states her name, address, ss# and school information to complete strangers with no guarantee that the forms will get to the appropriate parties or be handled in a confidential manner. Of course my daughter doesn't agree with me and feels that leaving blank spaces on an application is a poor reflection on her.