The best financial lesson for kids…let them hear the word NO

We all want our children to become independent and financially literate.  Teaching them the value of a dollar can be quite difficult.  I have discovered that one of the best lessons I have taught my kids is by saying “No” more often.  But it isn’t just the “No” that they need.  They also need to know the why, and be given the opportunity to make their own decisions on need versus want.

 

I have two children, aged 10 and 11. They are both good kids, and I feel like we have done a really good job raising them to be polite and considerate.  That is why when they would ask for a special treat here and there, I was always happy to buy it for them within reason.  I didn’t realize that these little rewards, were teaching my kids a bad lesson.  They really never understood the cost of anything.

 

We have made budgeting a family affair and within a few months, I have seen a major change in my children especially.  Trust me, it was hard at first.  I wasn’t used to saying “No” quite that often.  And the mom guilt was in full swing on more than one occasion.  But I would always explain that it wasn’t in the budget.

When we did have some entertainment built into the budget, the kids would have to help make that decision and alter it if they wanted something different.  For example, one month we had a trip to the arcade built in for entertainment.  But then a movie came to the theaters that they felt they just had to go see.  Well,  my two kids debated the pros and cons to both. In the end, they decided to go to the movie because they got more hours of entertainment for the actual cost.  It was definitely a proud mommy moment!

Since we have been talking as a family, my kids have started using the phrases such as, “We should put that in the budget next month,” “Well, this really isn’t worth the money when we can get something better,” “Do I really want this?  Nope, I can live without it.”

There are still a few things that they feel they need, but I would still consider a want.  But, they are thinking about their choices.  This is a great first step into making better financial decisions as an adult.  They are taking ownership in some of the decisions that are being made, which then alleviates any of the mommy guilt.

Another lesson my children have learned is that of delayed gratification.  When they want something, they now have to think about the value of that item.  This may slow down their purchases.  In fact, we have had to build a few items into the budget which then makes the children wait a month before receiving the item.  And if they wait that long for something,, they truly do want it.

 

As adults, we need to slow down in our purchases.  We need to think of the actual value of the item we want to purchase and to weigh the pros and cons.  Sometimes we don’t get what we want right away, and that is OK.  It makes us appreciate it more in the end and feel good about our decision making process.  We need to tell ourselves “No” sometimes, because it may be so worth it.

No Financial Lesson

66 comments

  1. I’m extremely inspired with your writing skills and also with the layout to your blog.
    Is this a paid subject matter or did you modify it your self?

    Either way stay up the nice high quality writing,
    it’s uncommon to peer a nice blog like this one today..
    would g recently posted…would gMy Profile

  2. My brother recommended I might like this web site. He was
    entirely right. This post truly made my day. You cann’t imagine simply
    how much time I had spent for this info! Thanks!
    g could recently posted…g couldMy Profile

  3. Hi there, I discovered your site via Google even as searching for
    a similar subject, your site got here up, it seems to be great.
    I have bookmarked it in my google bookmarks.

    Hi there, simply turned into aware of your weblog
    thru Google, and found that it is really informative. I’m going to be careful
    for brussels. I will be grateful if you happen to proceed this in future.
    Many other folks shall be benefited from your writing.
    Cheers!
    because g recently posted…because gMy Profile

  4. Hello, i feel that i saw you visited my web site thus i
    got here to go back the prefer?.I’m trying to to find issues to
    improve my web site!I guess its adequate to use some of your ideas!!
    g on recently posted…g onMy Profile

  5. Having read this I believed it was extremely informative. I appreciate you finding the time
    and energy to put this article together. I once again find myself personally spending way too much time both
    reading and leaving comments. But so what, it was still worth it!
    g I recently posted…g IMy Profile

  6. With havin so much content and articles do you ever run into any issues of plagorism or copyright
    violation? My blog has a lot of exclusive content I’ve either created myself or outsourced but it seems a lot
    of it is popping it up all over the web without my authorization. Do you know any ways to help
    prevent content from being stolen? I’d really appreciate it.
    g https://tinyurl.com/rsacwgxy recently posted…g https://tinyurl.com/rsacwgxyMy Profile

  7. I absolutely love your blog and find many of your post’s to
    be precisely what I’m looking for. Would you offer guest writers to write content to suit your needs?
    I wouldn’t mind producing a post or elaborating on a lot of the
    subjects you write regarding here. Again, awesome web site!
    tinyurl.com recently posted…tinyurl.comMy Profile

  8. Hey! I know this is kind of off topic but I was wondering
    which blog platform are you using for this site?
    I’m getting tired of WordPress because I’ve had problems with hackers and I’m
    looking at options for another platform. I would be
    fantastic if you could point me in the direction of a good platform.
    tinyurl.com recently posted…tinyurl.comMy Profile

  9. Good day! I know this is kind of off topic but I
    was wondering if you knew where I could get a captcha plugin for
    my comment form? I’m using the same blog platform as yours and I’m
    having problems finding one? Thanks a lot!
    web hosting sites recently posted…web hosting sitesMy Profile

  10. Excellent post. I was checking constantly this blog and I’m impressed!

    Very useful info specifically the last part 🙂 I care for such info much.

    I was looking for this particular information for a very long time.
    Thank you and best of luck.
    website hosting recently posted…website hostingMy Profile

  11. When I initially commented I clicked the “Notify me when new comments are added” checkbox and now
    each time a comment is added I get three e-mails with the same comment.
    Is there any way you can remove people from that service?
    Many thanks!
    booking flights recently posted…booking flightsMy Profile

  12. Hi, Neat post. There is an issue with your site in internet explorer, would test this?
    IE still is the marketplace chief and a good element of other people will miss your magnificent writing because of this
    problem.
    webhosting recently posted…webhostingMy Profile

  13. Howdy! Quick question that’s completely off topic.
    Do you know how to make your site mobile friendly?
    My weblog looks weird when viewing from my iphone 4. I’m trying to find a theme
    or plugin that might be able to fix this problem.
    If you have any suggestions, please share. Thanks!
    website hosting services recently posted…website hosting servicesMy Profile

  14. Hi, I do think this is a great blog. I stumbledupon it 😉 I am going to come back yet
    again since I book marked it. Money and freedom is the greatest way to change, may you be rich and continue to help others.
    website hosting recently posted…website hostingMy Profile

  15. Good day I am so delighted I found your blog, I really found you by
    accident, while I was searching on Askjeeve for something
    else, Anyways I am here now and would just like to say many thanks for a remarkable post and a all round thrilling blog (I also love the theme/design),
    I don’t have time to read through it all at the moment but I have saved it and also added
    your RSS feeds, so when I have time I will be back to read
    a great deal more, Please do keep up the great job.
    website hosting services recently posted…website hosting servicesMy Profile

  16. It’s a pity you don’t have a donate button! I’d definitely
    donate to this fantastic blog! I guess for now i’ll settle for bookmarking and adding your RSS feed to my
    Google account. I look forward to brand new updates and
    will talk about this site with my Facebook group. Chat soon!
    web hosting company recently posted…web hosting companyMy Profile

  17. After going over a few of the blog articles on your web page, I seriously appreciate your technique of writing a blog.

    I saved it to my bookmark website list and will be checking back in the near
    future. Take a look at my web site as well and tell me what you think.
    web hosting services recently posted…web hosting servicesMy Profile

  18. Hey! I know this is kinda off topic but I was wondering if you knew where I
    could get a captcha plugin for my comment form? I’m using
    the same blog platform as yours and I’m having problems finding one?
    Thanks a lot!
    webhosting recently posted…webhostingMy Profile

  19. This design is steller! You certainly know how to keep a reader amused.
    Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Wonderful job.
    I really enjoyed what you had to say, and more than that, how you
    presented it. Too cool!
    web hosting company recently posted…web hosting companyMy Profile

  20. Hey there! I’ve been following your site for some time now
    and finally got the bravery to go ahead and give you a shout out
    from Austin Texas! Just wanted to tell you keep
    up the great job! cheap flights 34pIoq5
    cheap flights recently posted…cheap flightsMy Profile

  21. Hi are using WordPress for your blog platform? I’m new to the blog world but I’m trying to get started and create my own. Do you require any coding knowledge to make
    your own blog? Any help would be greatly appreciated! 3aN8IMa cheap flights
    cheap flights recently posted…cheap flightsMy Profile

  22. Thank you for any other magnificent article.
    The place else may anyone get that type of info in such an ideal approach of writing?
    I’ve a presentation subsequent week, and I’m at the look for such info.
    cheap flights y2yxvvfw
    cheap flights recently posted…cheap flightsMy Profile

  23. Howdy outstanding website! Does running a blog like this take
    a large amount of work? I’ve virtually no expertise in programming
    however I had been hoping to start my own blog in the near future.
    Anyways, if you have any ideas or tips for new
    blog owners please share. I know this is off topic but I simply had to
    ask. Thanks a lot!
    best website hosting recently posted…best website hostingMy Profile

  24. This design is wicked! You most certainly know how to keep a reader amused.

    Between your wit and your videos, I was almost moved to start
    my own blog (well, almost…HaHa!) Fantastic job. I really
    loved what you had to say, and more than that, how you presented it.
    Too cool!
    cheap flights recently posted…cheap flightsMy Profile

  25. Howdy! I could have sworn I’ve been to this website before but after browsing through some of
    the post I realized it’s new to me. Anyhow, I’m definitely
    delighted I found it and I’ll be book-marking and checking back often! 2CSYEon cheap flights
    cheap flights recently posted…cheap flightsMy Profile

  26. Thanks , I’ve just been searching for information about this subject for a long time
    and yours is the best I’ve found out so far. But, what in regards to the bottom line?
    Are you positive about the supply?
    cheap flights recently posted…cheap flightsMy Profile

  27. Hi there! Do you know if they make any plugins to help with
    Search Engine Optimization? I’m trying to get my blog to rank for some
    targeted keywords but I’m not seeing very good results.
    If you know of any please share. Thank you!
    cheap flights recently posted…cheap flightsMy Profile

  28. I just like the valuable info you provide to your articles.
    I will bookmark your blog and test once more here regularly.
    I am fairly sure I will learn plenty of new stuff proper here!
    Best of luck for the following!
    cheap flights recently posted…cheap flightsMy Profile

  29. Commenting on blogs is a good way of getting backlinks Although it may not be as effective as writing guest posts for blogs, it has helped me to a large extent in my blogging journey.

  30. Hello there! I know this is somewhat off topic but I was wondering which blog platform are you using for
    this website? I’m getting sick and tired of WordPress
    because I’ve had issues with hackers and I’m looking at options for another platform.

    I would be awesome if you could point me in the direction of a good
    platform.
    web hosting sites recently posted…web hosting sitesMy Profile

  31. You actually make it appear so easy together with your presentation but I find
    this matter to be actually something which I feel I’d
    never understand. It kind of feels too complicated and extremely extensive for me.
    I’m taking a look forward in your next post, I will try to get the cling of
    it!
    web hosting companies recently posted…web hosting companiesMy Profile

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge