Pay up!!!!, What lesson are you teaching your kids if you don't!, Next time make sure you can pay up before you make any bets or deals with your kids. Life is full of disappointment, they will learn that on their own, they worked hard to reach a goal that you set!
Sara - 11 years ago
I think it's really sad that you only made the bet because you thought they couldn't do it. What they did is an amazing accomplishment, and you should be proud of them, not begrudging the money and belittling them on the radio. If this is the kind of support you give them, no wonder they aren't living up to their potential!
It was dumb on your part to make the bet for so much money, but that ship has already sailed.
That being said, it is a lot of money, and I think it would be fair to give them half now and half if they can maintain the grades to the end of the year. Or put it in a college savings account for them (though they should have at least a little to spend as a reward). Deducting the money your son owes you is fair, too, though only if you had already established that he was going to have to pay it back at some point - if it had been assumed that you were paying for it with no obligation on his part it's not fair to renege on that either.
As for college - better schools tend to have bigger endowments and thus more money for financial aid and scholarships.
julie d - 11 years ago
Hey guy, what are you teaching your kids if you DON'T pay up? Life is full of people who reneg on their deals and you don't have to follow through if you make a promise to someone...? Not a great life lesson. Next time, make sure you can make good on your promises BEFORE you put the plan in motion... kids never forget that stuff. Trust me.
Pay up!!!!, What lesson are you teaching your kids if you don't!, Next time make sure you can pay up before you make any bets or deals with your kids. Life is full of disappointment, they will learn that on their own, they worked hard to reach a goal that you set!
I think it's really sad that you only made the bet because you thought they couldn't do it. What they did is an amazing accomplishment, and you should be proud of them, not begrudging the money and belittling them on the radio. If this is the kind of support you give them, no wonder they aren't living up to their potential!
It was dumb on your part to make the bet for so much money, but that ship has already sailed.
That being said, it is a lot of money, and I think it would be fair to give them half now and half if they can maintain the grades to the end of the year. Or put it in a college savings account for them (though they should have at least a little to spend as a reward). Deducting the money your son owes you is fair, too, though only if you had already established that he was going to have to pay it back at some point - if it had been assumed that you were paying for it with no obligation on his part it's not fair to renege on that either.
As for college - better schools tend to have bigger endowments and thus more money for financial aid and scholarships.
Hey guy, what are you teaching your kids if you DON'T pay up? Life is full of people who reneg on their deals and you don't have to follow through if you make a promise to someone...? Not a great life lesson. Next time, make sure you can make good on your promises BEFORE you put the plan in motion... kids never forget that stuff. Trust me.