17/10/2024
Iโve got a little secret to share... My kids are total money disasters! It stings even more since I put in so much effort to teach them, yet they spend their allowance as soon as they get it.
Yet, I continue to give them weekly allowance and every-time they spend it on complete trash, I try and convince myself, they will eventually learn ๐ Because, letโs face it, understanding money isnโt a one-day deal! I remind my kids (and my husband!) of this all the time! ๐
I really want them to invest, but wow, thatโs a tough sell! Kids donโt exactly have the patience for waiting to see their money grow. Instant rewards are way more their style!๐
When I catch them spending on things Iโd never buy, I have to hold back my frustration (no swearing, I promise!). Instead, I try to turn those moments into lessonsโfor them and for me!
Positive language works wonders. I want them to feel trusted and confident in their choices. Even if I have to say โNO,โ I make sure to explain why.
๐ Hereโs a phrase we use to help them pause before buying:
โWhy not add this to your birthday list for next year?โ This teaches them to wait and plan for something bigger.
Or, Iโll ask, โCan you find this somewhere else? Is there a cheaper option?โ This gets them thinking about the bigger picture, like comparing prices before deciding.
If this helped you out, let me know! I really want to hear from you. And donโt forget to FOLLOW for more tips and inspiration!