Yesterday I talked a little bit to my older kids about money.One of my teenage daughters especially thinks that money grows on trees. Wait, that's not quite right. She believes that money should just be handed to her because she "deserves it." Deserves it for what?!?
She gets a weekly allowance, but she thinks she should go shopping ... a LOT.
She has no idea what all her make up and clothing adds up to. All she knows is that "everyone else" seems to be able to afford everything they have, so why can't she have everything she wants? I keep trying to explain to her that people can LOOK like they can afford everything, but under the surface, they may just be treading water. They could be in risk of losing their house, and their house might be big and fancy, but we finally own our little house 100%.
I explained that to give your kids a secure foundation instead of fancy stuff on a rickety financial foundation is what real love is.
I would love nothing better to buy her everything she wants, and in fact, it would make life a lot easier for me if I just bought her everything, because it would shut up her whining. But the easy way out is not necessarily the right way.
I explained that putting off desires is important, that we can't just buy everything we see that we like. I pointed out (and had CNN on) so the kids could see the reports about Ed McMahon and Evander Holyfield losing their homes. I had to explain who they were, of course. LOL....but used that as an illustration that they had tons of money...more money than I will ever see, and yet they are losing their homes.
Anyone can live beyond their means. I explained about keeping your expenses no more than 80% of what you bring in. Give away 10 percent (tithe to church or other charitable donation), save 10 percent, and live on the other 80%.
Did it sink in? I really doubt it. I'll let you know if I see any impact from all this explaining. I think it will be time to take them each aside the next time I sit down to pay bills. Let them figure it out with me, and they'll see how fast it all goes.
Need to save money, cut back on expenses?
I have several pages with ideas and tips - LINK
No comments:
Post a Comment
Thanks for leaving a comment on My Snellville Blog. If you liked reading this post, please consider leaving a comment or subscribing to My Snellville Blog to get future posts delivered to your feed reader or inbox.
Comments appear after being checked by me for identity and spam. Please note that comments with HTML or website links will not be published. If you want to share a link with me, please send it to me through the Contact Form. Click the following link if you are interested in Advertising In My Snellville Blog. Thanks!