A Humans of New York post about a New York father teaching his children ways they can invest money has been widely circulated on social media.
The picture (which can be viewed at the end of the story) shows father Steven I. Weiss and his two sons Ethan and Alex. It has received more than 700,000 likes and has been shared as many as 82,000 times.
“Every week I get one dollar for allowance. Then I get to choose the section where I put my dollar. There are four sections: spend, save, donate, and invest,” one of the sons said.
“If I put a dollar in the ‘invest section,’ my parents give me two extra pennies at the end of every month. I’ve only used my ‘spend section’ twice! I have way over $10 in my ‘invest section.’ I used to have more but I took some money out and put it in my ‘donate section.’ We used to it to buy food for people who don’t have much money in their ‘spend section.'”
Weiss is praised for teaching his children about investing their money by people all over the world. One of the comments on the Facebook post said, “This is the perfect way to teach children compassion and understanding that not everyone is as fortunate as they are, while also helping them to grow up financially responsible! You’re doing a great job as a father.”
In addition to lauding Weiss, people also shared their experiences regarding how kids can be taught to save money, according to WOKV.
According to a CNN Money/E*Trade survey of investors, 36 percent people said their principal way of learning about investment came from a family member or a friend. The most popular way of learning about investment, people said, was through websites.
Weiss thanked those who appreciated his efforts and Brandon Stanton, creator of the blog, for featuring his children in the Humans of New York post. He said his wife Rachel Feinerman is “equally responsible for everything lovely about our children.”
“It’s a great Father’s Day present,” he said of the post.
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