Fair and better to make mistakes at that age then huge costly ones when he is out on his own these are times of learning. I would also recommend showing the importance of sticking money away form each paycheck that is never touched till you retire. Trust me when he can retire at the age of 45 or 40 instead of 62 hes going to be much happier then some new car speakers in his new car lol just my two cents :D
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He is onto that already... Every paycheck he gets, he allocates different % into 3 categories: Investing, saving and spending.
That is awesome! he is going to thank you for that when he is older trust me I wish my parents would have beat it into me instead of me finding out later :D
Me too. LOL