My oldest DD is 16 and got a part time job which will also be her summer job. My husband and I will have to drive her back and forth but it is less than 5 miles from home so it is not too big of an inconvenience. I am glad because it will give her money of her own to spend, save, budget etc. I have already spoken to her about opening a retirement account and funding it with $500 to $1000 this year. Her first reaction was to roll her eyes as if I was just being crazy again. When I showed her charts demonstrating the power of compounded interest over time and how much she would have when she was my age, just by making a small sacrifice now when she does not really need the money, her tune changed. I told her she could do this for 5 years and still outperform someone who invested a lot more but didn't start til they were older. Her response was, "well then, why would I stop adding to it after 5 years. Couldn't I keep putting money in?" Words to make a frugal mother cry tears of joy! I have save the best perk for last - free water ice for immediate family members! (Okay, maybe not the most important perk but I do have my priorities). She is working for Rita's Water Ice and immediate family members get free water ice when she is working. I am already telling my 13 yo DD that she will HAVE to work there in a few years so I don't lose my water ice connection!
Perks of my DD's Job
May 1st, 2007 at 12:40 pm