Capitate Your Kids
Give Your Kids a Financial Head Start
Based on the "capitation" method used in the health-care field, Dr. John Whitcomb's six-step program begins by giving kids control of the money parents would normally spend on them. Families design and sign a contract detailing their mutual responsibilities, and parents agree not to interfere with their children's fiscal choices. Teenagers need to know about money management, yet these skills are not taught in schools, but through real life experience-and here is a proven method to put your kids' financial heads on!
Humorous and realistic, this step-by-step plan explains:
* How to calculate the first budget
* When to start teaching children about money
* How many times to expect a child to lose his ATM card in the first year (three)
* And other invaluable lessons
Chapter One: What Ideas Are We Working With Here?
Chapter Two: What Is the Right Age to Start and with How Much?
Chapter Three: How Do you Calculate the First Budget
Chapter Four: The First Clothing Contract: Getting "The Card"
Chapter Five: My ATM Card is Broken
Chapter Six: Stepping Up to the Next Level: A Global Budget
Chapter Seven: Going to the Prom for a Buck
Chapter Eight: Lunch Money
Chapter Nine: Will You Cut My Hair, Dad?
Chapter Ten: the Real Cost of a Trip to Walgreens
Chapter Eleven: What Do I Need a Checkbook for?
Chapter Twelve: Is There Any Extra Work Around Here?
Chapter Thirteen: Be Kind
Chapter Fourteen: Charity, Savings, IRAs, and College
Chapter Fifteen: Insurance: Medical, Auto, Home, Life
Chapter Sixteen: You Gotta Talk the Talk and Walk the Walk
Chapter Seventeen: What's the Least I can Do to Get the Most Effect?
Lesson Plan One: Creating a Clothing Budget
Lesson Plan Two: Using a Clothing Budget and Developing a Larger Budget
Lesson Plan Three: Using a Larger Budget with an ATM Card
Lesson Plan Four: Getting Ready for a Checkbook and a Car
Lesson Plan Five: Paying for Expenses with a Checkbook. Getting a Credit Card. Establishing the Expenses of Driving and Insurance.
Lesson Plan Six: Learning the Details. Planning for the Future. Saving for College, Retirement, and IRAs. Health Insurance. Starting a Family.
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