As a parent of a teenager, teaching your children the value of money is an important lesson for them - but how you go about it can be controversial depending on who you ask.
One dad on Reddit has split opinion after discussing the possibility of charging his own son interest on a "loan" he was planning to give him, as while some agreed it was a good lesson for his future, others thought that as a parent, profiting off of his son was improper.
The dad explained in his post that his 19-year-old son wanted to buy a car but needed some financial help, and rather than get a loan from the bank, his dad agreed to lend him some cash.
But the catch? His son would still have to pay interest on the loan, although it would be at a much lower percentage than the bank would offer him.
Get the news you want straight to your inbox. Sign up for a Mirror newsletter here.
The dad said: "My son is wanting to purchase a car, so I've offered him a loan to help him out. I offered him a sum of money plus 3 per cent interest; a much lower rate than the 15 per cent he'd receive from a bank. Plus, we wouldn't require a credit check.
"He countered with zero interest, where he'd just pay me back even, and be done.
"We had a spirited debate but I refused to budge. I think he's being a little self-entitled about this. Am I the a**hole for asking for interest on the loan?"
The man's post sparked fierce debate, with some saying there was "nothing wrong" in asking his son for interest, especially as it would teach him how loans work in the "real world".
One person said: "Nothing wrong with some interest, the money won't be worth the same when they pay it back."
While another added: "It's important kids understand the way the world works. If you don’t actually need the money, may I suggest you hold firm, charge the interest and once the loan is paid off, surprise him by putting the interest towards his insurance or some repairs."
But others were infuriated with his suggestion, claiming that he would be "creating resentment" in his son if he charged him interest.
Someone noted: "I don't understand why you want to charge your own child interest. Is that supposed to teach him anything or do you literally wanna profit off your child? Because that leaves a bad taste in my mouth."
As someone else wrote: "There's a difference between learning the value of money and creating resentment. It's a loan so you're not giving him the money. Assuming you have the money and aren't taking out a loan yourself for it, it just seems kind of mean spirited."
Do you have a story to sell? Get in touch with us at yourmirror@trinitymirror.com .
