In a time when many are striving to break free from debt and curb excessive spending, a couple from California stands out for their unique approach. Real estate broker Lee Schwartz, aged 56, and stand-up comedian Linda Schwartz, aged 42, have not only restrained these habits in their own lives but have also been diligently teaching their 4-year-old son Huxley to make wise decisions when it comes to money.
For the Schwartz family, this journey has been a natural progression from one thing to another. When Huxley was just 6 months old, they started teaching him baby sign language.
“It took him a few weeks to pick it up, but we were teaching him basic signs every day,” Mrs. Schwartz told Epoch Times, “By the time he was one year old, he might know 80 signs, which really honed his patience.”
“Most children at this age don’t know how to express themselves.”
Mrs. Schwartz believes that the backgrounds of both parents have contributed to shaping their parenting approach.
“We want to instill some values in him that are not material-centric,” Mrs. Schwartz said, “My husband and I come from poor and bankrupt families. We have worked very hard to achieve the economic level we are at now. We could give him everything he wants, but that holds no value.”
“When I was 18, I started using credit cards and ended up in a lot of debt, took a long time to pay off all debts.”
For Schwartz, who grew up in poverty and learned how to be self-reliant, money rules became a “core value” he wanted to pass on to his son.
“You know, 30 years ago, my plan was to give my child very little pocket money, some call it meager pocket money, but to show him what real life is like,” he said.
Learning new skills and completing chores have been essential elements in the value system the Schwartz family has been teaching Huxley. However, in the Schwartz household, they don’t call it chores, but rather “legal obligations”. Each family member has their own “legal obligation”.
For Huxley, this includes picking up his toys, tidying his room, organizing his clothes, and cleaning up any crumbs on the floor after meals.
“When his grandmother visits, sometimes they clean the bathroom together,” Mrs. Schwartz said.
In addition to completing chores, Huxley earns rewards through reading and practicing music. If he completes all these tasks, he receives a weekly allowance.
“On weekends, his earnings are between $70 and $80,” Schwartz said, “We give him his paycheck every Sunday night.”
He explained that certain expenses of the household are deducted from Huxley’s own earnings, helping him understand how finances work. These expenses include rent, taxes, charity, short-term savings, long-term savings, and utility bills.
In total, Huxley allocates around 90% of his income each week toward expenses and rent, within this 90%, 25% for taxes, 10% for charity, 10% for short-term savings, 10% for long-term savings, 10% for retirement savings.
Huxley’s other costs include $1 for food, $1 for gas and electricity, $1 for water, and $1 for transportation. After all expenses are paid, he is left with around $7, which he can freely use however he wants, which may include purchasing his own toys or books.
His parents started teaching him about money when Huxley was around 3 years old, and he quickly learned to buy a $144 bicycle with his own money.
Although Huxley uses his savings to buy toys and books, his parents mentioned that his favorite thing is to satisfy his “greedy appetite” for reading with his own money. He has bypassed toy stores and headed straight to bookstores in search of new books.
“His interest is more in purchasing books now rather than toys,” Schwartz said, “In the past nine months, he has read 640 books.”
In addition to teaching him how to spend and save money, the parents have focused on instilling strong values in Huxley. They also help him learn how to manage his time wisely.
“He has his choices,” Schwartz said, “For example, if we say, ‘Hey, do you want to play the piano or read?’ He will make his choice. We encourage him to be an independent thinker.”
They say his independent spirit can be seen when he plays with building blocks by himself, softly humming Mozart’s music. His ability to identify and express these “qualities of the soul” is crucial as they might be abstract and difficult to explain. Future “qualities of the soul” his parents plan to teach include compassion, empathy, and tolerance.
The Schwartz couple uses money and hard work as tools for his lifelong education, aiming to instill in Huxley a sense of responsibility.
“We often use the term ‘consequences’ here, there are good consequences, maybe some not-so-good ones, but they are just consequences,” Schwartz said.
Self-sufficiency is also a high priority.
“I hope he becomes a lifelong learner,” Schwartz said, “I hope he has the ability to solve problems, and if he can’t, he should know where to find resources and things to help him.”
Huxley’s home education curriculum is divided into “financial education” and “soul education,” where he also learns a lot about confidence.
“We give him what we call ‘superpowers’,” Schwartz said, “Most children know superheroes and superpowers, right? But he has never seen those. He doesn’t know what Superman or Spiderman is. His superpowers are what I call ‘character’. So the first superpower he has is courage, the second is patience, and his third superpower is a spirit of cooperation.”
Schwartz mentioned that if they are in a long line, Huxley would turn to him and say, “Dad, I’m using my superpowers.” When using these “qualities of the soul,” the ability to identify and articulate them is crucial, as they might be abstract and hard to explain. Parents plan to teach “superpowers” like empathy, compassion, and tolerance in the future.
Although their approach differs from the more common parenting methods, the Schwartz family believes their household is not exceptional.
“He is exposed to these things regularly in his environment,” Schwartz said, Huxley is not unique or extraordinary, but because of his “counting money every day, playing the piano every day, and reading every day, these experiences collectively are a great wealth.”
Since Huxley has not been exposed to cell phones or electronic screens, he is not influenced by advertisements, and therefore, he doesn’t ask for things.
“The only influence he has is what we expose him to in the real world,” Schwartz said.
They mentioned that faith also plays a significant role in their parenting approach.
“We do believe in a sacred, higher power and we are guided, everything happens in divine time,” Mrs. Schwartz said.
Looking ahead to Huxley’s future, Mr. Schwartz believes his son will establish a healthy relationship with money and not have a hoarder mentality.
“As he grows older, he will know that debt is the way normal people do things. Smart people do things differently,” Schwartz said, “Unless you have that money, do not buy that thing.”
For parents interested in trying their methods, the Schwartz couple suggests starting early and making learning fun for children.
“You need to instill in your child the ability to learn and love learning,” Mrs. Schwartz said, “When we started teaching him baby sign language at 6 months old, and he knew how to express turning off the lights, that was an exciting moment because he now knew he can communicate with us.”
Mr. Schwartz added that diet and limiting screen time have also played a significant role in their parenting process.
“I would tell other parents, ‘If you can give up junk food and screens, you may have eliminated 90% of emotional issues between healthy eating and a healthy mind for children.”
Finally, Mrs. Schwartz believes that their approach is not extreme.
“We just want to raise a well-rounded child. We do our best to give him the best education and see what sticks,” she said.
For Huxley, many of the “superpower” qualities his parents have taught him, he has upheld remarkably well.
(Provided by Linda Schwartz)