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.


One thought on “Teach Your Children About Money

  1. Pingback: Teach Your Children About Money | dragonalleyjournals

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