Finance
The Disappearing of the Green
By Mary Fagan
Sep 10, 2006, 12:57

Sometimes during the process of teaching our children about money and personal finance, parents tend to learn even more than the children. This hypothesis can be proved very easily by asking yourself, "Can you account for all the money you had in hand yesterday?" I thought not.

There are subtle ways this erosion of your wallet takes place, taking it from pleasantly plump to Twiggy-like. You must be aware of the techniques and learn to counter them. I will provide a few of the keys to keeping your cash in hand.

Watch for the offer of teenagers to run to the store for you. This is a ruse. They will take your $20, buy your milk and bread, and before it's in the fridge they are off again with the rest of your change for their convenience.

The second trick of their trade is the "rounding down" that can really add up. Watch for items thrown in your shopping cart (Get suspicisous when they offer to go shopping with you) that cost $2.50 plus tax, and you are thrown one bill and a lot of pennies along with a question like, "When is the best time to lose your viginity." Don't fall for it. You have gone over that topic enough times and they are banking on your parental concern. After four or five years of this technique, I  put a stop to it - immediately!

Lastly, keep a sharp eye and a sharp pencil out for the "keep a tab" routine. This is when they use creative math to fudge some funny figuring at your expense. Look for the same skills honed to alter report card grades and parent signatures to show up on your debit and credit lines. And the more transactions recorded, the harder it is to keep them straight, which is what they are counting on.

If you are aware of this financial funny business and make note of these techniques as a teaching tools, you are sure to keep a robust wallet and your kids on their toes. If not, a part-time job is a good way to keep the cash coming. I mean them, not you!