School was out! I hopped on the bus headed for home.
Today’s story is from Katie McDevitt.
A young lady of 10, a 10-year-old, I was anxious to play outside with my friends.
Jim Reid, Katie’s dad
As we rounded the corner, there was my house. My face squished tight to the glass. What did I see? In the front lawn, my little red bike. Why was I distressed?
Stop for a moment. Pretend you are me. What do you see?
A “For Sale” sign tied to the bars of my bike. “For Sale?” I thought. My red bike was my life.
What had I done? Really! I was just a a 10-year-old. Want to relate? Imagine someone towed off your car! I jumped off the bus. Ran ‘cross the yard. Flew into the house.
I zipped past my dad (with him, I was mad), and went straight to my mom. ‘He’s selling my bike!” I fitfully sobbed.
“Well, why would he do that?” Mom serenely asked. I shrugged. (With my best 10-year-old innocent look.)
Uh oh, I suddenly thought. A squeak of the floor? I knew who it was. Dad walked into the room.
“Katie, four weeks ago you borrowed $20.
Katie’s red bicycle
You wanted to buy extra snacks. I told you lenders expect interest and payback. We agreed to 16%. You understood, right?”
Yes, I nodded. This was not good. And, I explained about liens. Your bike would pay off the loan if you did not. Did you understand?” I nodded my head.
“It’s been four weeks. I’m here to collect.” I remembered that day. I wanted the $20 “now”. Four weeks was so far down the road.
Crazy, I thought, it’s amazing how fast later is now. I needed a plan. My bike was at stake. Odd jobs? A loan from my mom? I was thinking hard and real fast. I briefly looked up. What was this? An ear to ear grin on his face? Dad gave me a playful nudge, a kiss on the head, and a father’s advice,
“Katie, here are 4 lessons schools don’t teach:
• Don’t make deals you can’t keep.
• Don’t take out loans for frivolous things.
• Interest is your enemy.
• And, it’s amazing how fast later is now.
Now go out and have fun on your bike.”
Your Savvy Today?
Have fun on your bike, but remember: It’s amazing how fast later is now.
Jim really didn’t take away his 10-year-old’s little red bike.
Katie
Katie McDevitt, the 10-year-old in our story is Jim’s loving daughter. To this day she strives to follow her father’s advice.Jim Reid passed away in March 2006 from kidney failure at age 45. Even though Katie wasn’t ready to live life without her dad, he had done an incredible job preparing her for lifelong success.
Jim’s favorite quote was, “My education began where my schooling ended,” by Winston Churchill. Jim devoted much of his life to teaching his children, Katie and Ryan, all about life.