Banking

B. and I headed to the bank today to open his first checking account. It was a long, drawn out process - his savings account (which we've had since he was a baby) had to be closed and a new one opened when we realized that the account had somehow been included in the family trust - which is not right. So that piece took a bit longer. We finally were successful. He will get his own ATM card, his own checkbook and (eventually) set up his paychecks to go in via Direct Deposit. Because we linked the account to our accounts, he received an upgraded account with no fees. I'm not sure he was 'happy' to have me on the account with him (not on the checks - just on the account) but when I told him that it would be much easier for us to transfer money to him if I was on the account with him, he said he understood. So that's what we did. Guess the thought of getting cash from your family outweighs the desire for independence.

The account opening was certainly a milestone. He will turn 18 in January - the first among his friends to reach that milestone. I have thought of a couple MAJOR ways to celebrate - but since we are limiting expenditures, it's hard to know what to do. We will host a party of some kind - though his winter birthday is always a challenge. We may take him and some of his closest friends snowboarding for a weekend. We'll see.

Now comes the hard part - teaching him to balance his checkbook; enter his expenditures in the register. His questions made it pretty clear that he has no clue how to manage his money. I guess I didn't expect him to - and yet, the differences between boys and girls is so evident. I had my own checking account when I was 16 - and my mom never had to help me with it. Never. But boys are different....so different. The attention to detail is just not as natural for them as it is for girls, I think.

His first check written will be to pay for his monthly gym membership. And possibly his phone bill - we're negotiating that, still.

Wow. My baby's going to be an adult soon.