Frugal Lessons Every Parent Should Teach Their Children
As I look at my grown children I can see where I scored victories in their frugality. I can also see where I totally missed the boat. I believe that no matter what your income is or your level in life it is your obligation to teach your children certain things about life and how to be independent. How to survive when times are lean, such as in college or moving away from home for the first time. These lessons should be taught from an early age, but it's never too late.
Teach your children the meaning of the word "NO."
We live in an age that believes that if you tell your child "no" that they will be mentally harmed. They will grow up suppressed or with feelings of inadequacies. Let me tell you, telling your children "no" is NOT child abuse! When it comes to children and all their "I wants," then they need to know this word. Teach it to them. Let them understand it. Let them learn from it. I'm not saying that you tell them "no" to everything, just for the things that would not be in their or your best interest.
If you can not afford to pay the light bill this month or put food on the table, it is not a good time to put a new video game on the credit card because little Johnny wants one. Tell him "no." If you need to buy your child clothes and she wants to go to the movies with her friends, say "no". Please explain in a basic way the reason why and don't make it sound like you are apologizing. Later in life they will be trying to figure out whether they should pay their mortgage or buy that new tech gadget then this lesson will come in handy.
As I look at my grown children I can see where I scored victories in their frugality. I can also see where I totally missed the boat. I believe that no matter what your income is or your level in life it is your obligation to teach your children certain things about life and how to be independent. How to survive when times are lean, such as in college or moving away from home for the first time. These lessons should be taught from an early age, but it's never too late.
Teach your children the meaning of the word "NO."
We live in an age that believes that if you tell your child "no" that they will be mentally harmed. They will grow up suppressed or with feelings of inadequacies. Let me tell you, telling your children "no" is NOT child abuse! When it comes to children and all their "I wants," then they need to know this word. Teach it to them. Let them understand it. Let them learn from it. I'm not saying that you tell them "no" to everything, just for the things that would not be in their or your best interest.
If you can not afford to pay the light bill this month or put food on the table, it is not a good time to put a new video game on the credit card because little Johnny wants one. Tell him "no." If you need to buy your child clothes and she wants to go to the movies with her friends, say "no". Please explain in a basic way the reason why and don't make it sound like you are apologizing. Later in life they will be trying to figure out whether they should pay their mortgage or buy that new tech gadget then this lesson will come in handy.
Teach your children to amuse themselves.
I had a rule in my house, some of you may think is cruel, but my children were not allowed to have toys that required batteries. If they were given toys like that, then they only had them until the batteries died. Batteries were not on my list of things to buy each week at the store, we could not afford them. By not having toys that did everything for them, they were put in a place to think outside the box. To become creative. To make things for themselves. They made race cars, doll houses and castles out of boxes. Building blocks out of empty food boxes. They got exercise outdoors playing jump rope, hopscotch, riding bikes, skateboarding, hacky sak, roller skating, frisbee. They would make stilts our of empty cans and some rope. They had friends over and played "school". We made make believe forts with sheets and chairs. They even made up their own grocery store with empty cans, boxes and cartons.
This was a great lesson because two of my children are now athletes. One is in Roller Derby and the other is a pro Disc Golfer. My youngest is a teacher.
I had a rule in my house, some of you may think is cruel, but my children were not allowed to have toys that required batteries. If they were given toys like that, then they only had them until the batteries died. Batteries were not on my list of things to buy each week at the store, we could not afford them. By not having toys that did everything for them, they were put in a place to think outside the box. To become creative. To make things for themselves. They made race cars, doll houses and castles out of boxes. Building blocks out of empty food boxes. They got exercise outdoors playing jump rope, hopscotch, riding bikes, skateboarding, hacky sak, roller skating, frisbee. They would make stilts our of empty cans and some rope. They had friends over and played "school". We made make believe forts with sheets and chairs. They even made up their own grocery store with empty cans, boxes and cartons.
This was a great lesson because two of my children are now athletes. One is in Roller Derby and the other is a pro Disc Golfer. My youngest is a teacher.
Teach them that time is money.
I equate everything into how long do I have to work to pay for that item. It has come in handy because I will actually talk myself out of something because the item does not justify the time. You can do this by telling your child how much longer it will take you to work to pay for those expensive sneakers he wants instead of the lesser price ones. The better way to teach them is when they start earning their own money. When they want to spend it on something they want you can tell them that it will take them 12 weeks of work around the house to buy that item. Do you still want it?
I equate everything into how long do I have to work to pay for that item. It has come in handy because I will actually talk myself out of something because the item does not justify the time. You can do this by telling your child how much longer it will take you to work to pay for those expensive sneakers he wants instead of the lesser price ones. The better way to teach them is when they start earning their own money. When they want to spend it on something they want you can tell them that it will take them 12 weeks of work around the house to buy that item. Do you still want it?
Teach them that they "deserve" nothing.
One of the greatest things a child can learn is that they are entitled to squat. They have to earn it. This goes for the job they want. It goes for respect. It goes for friendship and loyalty. It goes for the things they want! Teach them that work equals money and when they spend that money it is gone. Teach them if they work for it, earn it, and save it, the sky is the limit. Teaching them a sense of entitlement is not a gift, it's a punishment.
One of the greatest things a child can learn is that they are entitled to squat. They have to earn it. This goes for the job they want. It goes for respect. It goes for friendship and loyalty. It goes for the things they want! Teach them that work equals money and when they spend that money it is gone. Teach them if they work for it, earn it, and save it, the sky is the limit. Teaching them a sense of entitlement is not a gift, it's a punishment.
Teach them "Waste not, want not".
This lesson is important on so many levels. It can help them make do with what they have. To find uses for things that can get them through for another day. To be green and help save the planet. To want less is to need less. My grandmother taught me to "use it up, wear it out, make it do or do without." Show them to look at something in different ways before tossing it. Wash those baggies and use them again. Let the hem out of that dress before it is ready to be donated. Melt those broken crayons down and make a "coloring cake" or use them to in homemade candles as gifts. Explain to them when you do this how it saved you money and helped keep things out of the landfill.
This lesson is important on so many levels. It can help them make do with what they have. To find uses for things that can get them through for another day. To be green and help save the planet. To want less is to need less. My grandmother taught me to "use it up, wear it out, make it do or do without." Show them to look at something in different ways before tossing it. Wash those baggies and use them again. Let the hem out of that dress before it is ready to be donated. Melt those broken crayons down and make a "coloring cake" or use them to in homemade candles as gifts. Explain to them when you do this how it saved you money and helped keep things out of the landfill.
Teach them to a good work ethic.
I work with many young people and this is where it all falls apart. So many of these kids come into the work force haveing no clue that you have to actually work for the money. That work isn't all about having a place to go like summer camp and get paid for it. They have no clue how to take orders or assignments. I have even heard young adults laugh at the boss when they are told they have to clean the toilets or mop the floors. They honestly think they get paid just for showing up. Do your children a favor and teach them how to work. This is your chance to teach them that time turns into money. Teach them to rely more on their own ability to work instead of leaning on someone else.
I work with many young people and this is where it all falls apart. So many of these kids come into the work force haveing no clue that you have to actually work for the money. That work isn't all about having a place to go like summer camp and get paid for it. They have no clue how to take orders or assignments. I have even heard young adults laugh at the boss when they are told they have to clean the toilets or mop the floors. They honestly think they get paid just for showing up. Do your children a favor and teach them how to work. This is your chance to teach them that time turns into money. Teach them to rely more on their own ability to work instead of leaning on someone else.
Teach them the value of saving.
When my children where very young I opened savings accounts for them. Our bank was offering Jr. savings accounts called Save-a-saurus accounts. We started with $5. in the account and then they had to save from that point on. I put them on a commission type work load at home. They were paid for doint certain chores around the house. From those chores they were taught to save and put at least a percentage every week into their accounts. They loved watching the balances go up so much so that they didn't want to withdraw the money. My youngest daughter saved enough to buy her first car, a 3 year old Volkswagen Passat in cash!! Some kids are natural savers and some are natural spenders. Teaching them to save can save them in the future. By having a savings when they are older, it could save them from the "bumps and hurdles" that may come up in life.
When my children where very young I opened savings accounts for them. Our bank was offering Jr. savings accounts called Save-a-saurus accounts. We started with $5. in the account and then they had to save from that point on. I put them on a commission type work load at home. They were paid for doint certain chores around the house. From those chores they were taught to save and put at least a percentage every week into their accounts. They loved watching the balances go up so much so that they didn't want to withdraw the money. My youngest daughter saved enough to buy her first car, a 3 year old Volkswagen Passat in cash!! Some kids are natural savers and some are natural spenders. Teaching them to save can save them in the future. By having a savings when they are older, it could save them from the "bumps and hurdles" that may come up in life.
Teach them to solve problems with no money at all or how to survive on little.
Teaching them how to think with no money is a gift that will give forever. When they are older they can learn to barter to get someone to fix that broken air conditioner. They can trade something for or Freelist to find a crib they may need. Teach them how to change the oil on the car and to maintain the air pressure in the tires. Teach them to shop and cook for themselves so they aren't constantly spending their money on going out. Show them how to make their own cleaning supplies.
Teaching them how to think with no money is a gift that will give forever. When they are older they can learn to barter to get someone to fix that broken air conditioner. They can trade something for or Freelist to find a crib they may need. Teach them how to change the oil on the car and to maintain the air pressure in the tires. Teach them to shop and cook for themselves so they aren't constantly spending their money on going out. Show them how to make their own cleaning supplies.
The Most Important Lesson of All.
Teach them to be independent. Before you cut your children loose on the world, they should already know how to stand on their own two feet. They should know how to make a budget and balance a checkbook. They should know how to shop with a list and use coupons and look up sales. They should know how to prepare food, pay bills, clothe themselves. It is a crime to set your children free and set them up to fail. The crime is punishable by having your children constantly come back to you to bail them out. To get them to the next paycheck. To drain you of your retirement and your happy future. Teach them the a frugal and simple life and it will lead to a life of happiness.
Check out the Being Frugal Sally blog and/or follow her on Facebook!
PREVIOUS "FRUGAL SALLY" ARTICLE IN MACARONI KID : NEPHILLY-EMC
Teach them to be independent. Before you cut your children loose on the world, they should already know how to stand on their own two feet. They should know how to make a budget and balance a checkbook. They should know how to shop with a list and use coupons and look up sales. They should know how to prepare food, pay bills, clothe themselves. It is a crime to set your children free and set them up to fail. The crime is punishable by having your children constantly come back to you to bail them out. To get them to the next paycheck. To drain you of your retirement and your happy future. Teach them the a frugal and simple life and it will lead to a life of happiness.
Check out the Being Frugal Sally blog and/or follow her on Facebook!
PREVIOUS "FRUGAL SALLY" ARTICLE IN MACARONI KID : NEPHILLY-EMC
- What Makes Me This Way -- Friday, May 11, 2012
