If we live long enough, we may witness some bizarre behaviors generated by our children, and we may still have enough time left on our hands to wonder how these little darlings turned out the way they did. Take the following example:

The kid loves water and words. By age 11 or so, he invents a pair of swim fins - for his hands. While he's flapping around in the bay, he thinks about poetry and Plutarch and writes about his thoughts (after he takes the fins off). One day, he announces he's a vegan. This decision is not made for health reasons, because he simply wants to save money. When your other son is jailed for contempt, the swim fin son takes over his business and then decides to run away. After backpacking around the northeast U.S., he comes home and asks you for money to start a business. You, of course, turn him down.

By the time this child turns twenty, he's stranded in London, hanging out at coffeehouses, and printing dissident pamphlets. When he returns home (on borrowed money), he has an illegitimate child. In another two years, he takes a common-law wife (not the mother of his first child). But, he becomes so well-known with his (legal) currency-cutting skills that he can argue with his boss, get fired, and then get rehired. Obviously, this boy/man has become even further skilled at the craft of argument and money-making.

Your son never ceases his precocious and quarrelsome behavior. People continue to stand by him despite his actions, mostly because he has a stunning sense of humor and because he innately understands which political horse to ride. He commits to seemingly endless business failures, but his successes become so memorable that they are in danger of becoming clich?. For instance, when someone tells you to "go fly a kite," you can't help but think of this kid. As a parent, you might find it in your heart to forgive him for many things. His sister-in-law, however, will never forgive him for sending 500 copies of his first book to sell for money after her husband dies.

Today, if you have a $100 bill handy you can stare right into the face of this man. Yep, it's Ben Franklin, a man more well-known for his frugality, leadership skills, inventions and ambition than for his swim-fins or anti-social behaviors. And, that first book of his - Poor Richard's Almanac* - is filled with some pithy statements that continue to inspire people today. Let's take a look at a few financial ditties to examine them for their current appropriateness:

"A Child thinks 20 Shillings and 20 Years can scarce be spent." Most of us can heartily agree with this statement as we watch our children learn how to comprehend combinations of money and time. If you don't have children, just think about your own wallet and the number of candles on your last birthday cake. The wallet seems slimmer and the candles seem to expand as time slips by rapidly. One way to teach our children (and ourselves) how to save for the future follows?

"For Age and Want save while you may; No morning Sun lasts a whole Day." Nice little ditty, no? While our children may not comprehend how quickly we can age and how much money they might need to return from London, we can offer tips on how to avoid impulse purchases now so they have enough money to invent something later.

"Patience in Market, is worth Pounds in a year." This statement is a little tricky, as Franklin never experienced the stock market as it exists today. The famous "Buttonwood Agreement" that marked the beginning of the New York Stock Exchange was devised a full two years after Franklin died in 1790. However, securities did exist and investments were common during his lifetime. Despite seemingly irrational behaviors in other areas of his life, swim-fin man believed in a BUYandHOLD mentality.

"A light purse is a heavy curse." We can decipher this statement at least two different ways these days. On one hand, if our portfolios are slim, our returns will be slim, also. In this case, his statement works. However, if our wallets are weighed down with credit cards, this is more of a "curse" than a light purse. Franklin had to rely on his skills and wits to work his way through his problems because he didn't have access to credit cards. If he did, we may have another face on that $100 bill other than his.

How did Franklin's face end up on that large bill? Why did his image seem more important than George Washington ($1), Abraham Lincoln ($5), Alexander Hamilton ($10), Andrew Jackson ($20), and Ulysses S. Grant ($50)? The U.S. Department of Treasury states that these images were chosen in 1928, and while the Secretary of the Treasury obeyed the law that demands that a person must be deceased before they are placed on currency, "records do not suggest why certain Presidents and statesmen were chosen for specific denominations."

While a conversation about values involved with currency images is for another place and time, be aware that your children might ask you about these issues. One way to deal with this problem is to ask them who they would use to replace current images. While they're occupied with this game, you might also wonder how a person who bribed postal workers at age 28 and who flew a kite during a thunderstorm at age 46 ended up on the largest bill. Possibly because Franklin was as deeply engaged in philanthropic, political, and civic activities as he was in his personal pursuits. Additionally, he made a huge mark on how Americans view money and personal industry today. And, he knew how to save money.

Until Next Week,
Linda Goin

* Before you decide that Franklin's little ditties are appropriate for the kids, read the Almanac thoroughly before you hand the book over to them. Otherwise, you may need to explain his word choices, some violent aspects, and negative images about women contained in this book.