Will Smith's Kids Pay for Treats with Their Own Money
Categories: Money & work, Celeb kids, Celeb parenting
Wow. Will Smith and Jada Pinkett Smith run a tight ship in their family! Apparently they make their kids pay for things with their own money. Shocking--I know--but it's true! Both Willow Smith and Jaden Smith make money from their own acting gigs, and mama and daddy see no reason why they can't pay for treats and things they want with their own cash. I just hope they're teaching those kids about making interest on their earnings!
According to Jada, she wants to teach Willow, eight, and Jaden, who is ten, about the value of money. Sounds like a smart woman to me. It's never too early to give kids some direction and guidance when it comes to money matters. Whether you're endlessly rich like the Smiths or regular folks like us, having a budget and being responsible for your money is something invaluable you can teach your kids.
The Smith parents treat their kids' earnings like they would their own, putting the cash into a "bank." When the kids want something they have to write it on a slip of paper and make a withdrawal. One assumes there is enough money in there for whatever the desired item is! this way the kids get what they want and they get to make decisions themselves without the parents having to do everything for them. And that's how we learn about things, right, by doing? Way to go, Jada and Will!
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