Teach Your Children About Money

Parents, teach your children about Money!  How to budget, save, plan ahead.  Did I mention SAVE.  Teach them the difference between what is a need, what is a want and what is nice to have.

I was never taught about money as a child.  Money as a deep dark secret and I didn’t need to know where it came from and how my parents used money to get food and keep us in a nice warm house.  Consequently when I started out on my own I got myself into trouble with credit cards.  If it was pretty I bought it.  If it struck my fancy or my friends owned one, I bought it.  I never asked myself if I needed it or if I would use/wear it.  The damage I did at this point in my life took me years to repair.

I no longer look at the sale ads when they come out.  Sure if I really need something I check the ads or go on line to find out where it is the cheapest, BEFORE I go out and buy it.

I keep two lists all year long, a NEED list and a WANT list.  At the end of the year I am surprised how most of my want items are still there because they were really not needed after all!

Teach your child to save.  My brother-in-law told me once “Pay yourself first”.  With every paycheck I have a certain amount automatically deposited into my savings.  I find that if it is not in my checking account I don’t spend it.  You will be astonished how fast that savings account, “rainy day fund” increases!

Get your child a Piggy Bank and have them start saving for that “rainy day” or an item they need.  You and they will be glad you did.

Piggy%20Bank%20Clip%20Art

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One thought on “Teach Your Children About Money

  1. Pingback: Teach Your Children About Money | dragonalleyjournals

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