Kids need to know and learn that money is earned and should be spent wisely. Having a roof over your head and food in your stomach is more important than buying the latest and greatest thing. Teaching them this will give them the sense of value and importance of saving.
- Saving money is the utmost importance! Why? Savings is a security blanket that will help when you need it most – medical, school, housing, and unexpected emergencies.
Now ask them to think about what items we use on a daily basis, BUT are most likely taken for granted. For example, our water, our gas, electric, cable. To live our daily lives, we use all these utilities. Show how it is good to save money so they can live a decent life and pay for the utilities and mortgage as well.
- A great way to demonstrate this is to show them some bills like electric, gas, water, cable, etc. You get it, yes!
Now, utility bills are NOT the only issue of living on a daily basis. Kids need to know that a budget includes pretty much everything – food, gasoline, car, cell phones, TV, movies outside of the home, vacations, clothes on their back, books for school, etc.
- Budget, Budget, Budget. Kids need to realize that you MUST budget expenses in order to pay your bills.
Let’s STOP trying to keep up with the Joneses EVERYONE! Did anyone ever think that the Joneses most likely lived BEYOND their means?
Let’s STOP letting society put so much pressure on us. Yes, everything, everyday, all the latest and greatest is in our face saying you must have this. “Buy me NOW!”
But if we show our kids that it’s more important to have an education, food, and a roof over our heads, they will gain confidence and learn the importance of spending wisely. They need to learn and save and avoid society’s eye candy gadgets.
FYI: This goes for you parents too. Show your kids that you are participating and can work towards something big – THE FUTURE!
