I received a fantastic email from Sharon, a great mom (wow, upside down, right?) that managed to get her 18-year old son to start budgeting. Notice how she didn’t demand the world of him…just let the budget show him what could happen…
Our 18 year old son has a full-time job. I told him he needed to learn to budget his money so he could start saving to purchase a home. He wanted noting to do with budgeting. I think the word “budget” scared him. He told me I could be his personal money manager. I was using YNAB to budet his money for him. Well one payday I was not home and he wanted his money budgeted right then and there. I talked him through YNAB over the telephone and since then he has been doing YNAB on his own. He learned how easy it was to give every dollar a job.
Before we had him start using YNAB his checkbook balance would always be around $10. Now that he uses YNAB, his balance is always over $700. I am glad I found YNAB, thank you for such a great program.
Updated: Sharon has her own business up and running, which you may want to check out as well.
I start my teenagers on it when they get their first job. It is easy for me to talk them into not spending that first month check (since they haven’t had any money coming in before), and then they start living off of the previous months income. They have failed at budgeting at times but that is part of growing up and learning responsibility. But they do see the benefits and they work hard and keeping it going. Hopefully they can learn at 16 what I waited and learned at 45.
Y-NAB helps in managing our budget and helps in saving our time and money. Its really nice to find such a product!
This is encouraging to me. My new goal is to get my 3 kids to try ynab.