"'I’ll never have to work again,' Sivert remembers thinking to himself. He quickly started fantasizing about one day using the funds to purchase a car."

"'I thought it was super cool. I had no concept of what $1,800 gets you.' His mother could sense his financial naivete: 'I think he thought it was going to set him up for life,' Lorna said.... And, as he got older and wiser, $1,800 started to seem like a smaller and smaller amount. While working at a local Dairy Queen, 'my first paycheck was just under that [amount], and I was like "Oh,"' Sivert said with a laugh...."

From "His mother offered him $1,800 to stay off social media for six years. He just cashed the check" (WaPo).

What did the boy learn? Check the most important lesson.

You can get along without social media.

Instead of making rules, parents can/should incentivize kids' behavior with money.

Making a deal, go ahead and take advantage of the other person's naiveté.

Get a job, earn your own money, and make your own choices.

 

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