Comments on: Teach Your Child to Be a Saver, Not a Spender http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/ Bridging the gap between saving money and investing Mon, 06 Oct 2008 21:14:16 +0000 http://wordpress.org/?v=2.6.1 By: mab http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/#comment-156143 mab Mon, 19 Nov 2007 18:10:59 +0000 http://www.savingadvice.com/blog/2007/11/09/101869_teach-your-child-to-be-a-saver-not-a-spender.html#comment-156143 Zook is absolutely right about starting young! In fact, I had a totally spontaneous (and touching) conversation with my daughter, 3, this morning. She asked me, "Why do you work daddy?" Instead of telling her I *had* to work, I told her that I enjoy what I do and my boss gives me money for doing it. And we use that money to buy things we need and want like groceries, the house we live in and toys we play with. She sat silently thinking for a minute and finally said, "And apples! Mmmmm....." Got to love kids. Zook is absolutely right about starting young!

In fact, I had a totally spontaneous (and touching) conversation with my daughter, 3, this morning. She asked me, “Why do you work daddy?”

Instead of telling her I *had* to work, I told her that I enjoy what I do and my boss gives me money for doing it. And we use that money to buy things we need and want like groceries, the house we live in and toys we play with.

She sat silently thinking for a minute and finally said, “And apples! Mmmmm…..”

Got to love kids.

]]> By: Anwar http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/#comment-143038 Anwar Sat, 10 Nov 2007 04:52:55 +0000 http://www.savingadvice.com/blog/2007/11/09/101869_teach-your-child-to-be-a-saver-not-a-spender.html#comment-143038 Oh, yes, I agree. We have 5 children, from ages 22 - 7 years. My wife and I, are concerned about ensuring our children do not get used to just putting out their hands and expect money to be there. We have a fixed allowance plan in place for the 2 elder kids and will be starting the next 2 children on an allowance next month. (Actually, we even have a "pledge" signed by the 2 elder girls that they will save 10% of the allowance. Sigh.....it is not happening yet.) Oh, yes, I agree. We have 5 children, from ages 22 - 7 years. My wife and I, are concerned about ensuring our children do not get used to just putting out their hands and expect money to be there.

We have a fixed allowance plan in place for the 2 elder kids and will be starting the next 2 children on an allowance next month.

(Actually, we even have a “pledge” signed by the 2 elder girls that they will save 10% of the allowance. Sigh…..it is not happening yet.)

]]> By: Zook http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/#comment-143021 Zook Sat, 10 Nov 2007 04:39:14 +0000 http://www.savingadvice.com/blog/2007/11/09/101869_teach-your-child-to-be-a-saver-not-a-spender.html#comment-143021 Sadly Christina, with the kids folks are having these days, 6-years old is probably not early enough to have them learn saving. Kids should be taught the importance of saving and finances right from pre-school. Just beginning to talk about money and how much the toy cost and food cost and what happens with mom and dad's paychecks. It is VERY important and not enough youngsters are getting the clue. The cycle isn't being broken and it is a shame, it is getting worse in my estimation. Sadly Christina, with the kids folks are having these days, 6-years old is probably not early enough to have them learn saving.

Kids should be taught the importance of saving and finances right from pre-school. Just beginning to talk about money and how much the toy cost and food cost and what happens with mom and dad’s paychecks. It is VERY important and not enough youngsters are getting the clue. The cycle isn’t being broken and it is a shame, it is getting worse in my estimation.

]]> By: Christina http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/#comment-142688 Christina Fri, 09 Nov 2007 20:58:07 +0000 http://www.savingadvice.com/blog/2007/11/09/101869_teach-your-child-to-be-a-saver-not-a-spender.html#comment-142688 Is there such a thing as "overdoing" including children in financial discussions? Because my six-year-old told a supermarket employee he was saving to pay for our house... Is there such a thing as “overdoing” including children in financial discussions? Because my six-year-old told a supermarket employee he was saving to pay for our house…

]]> By: Karsten http://www.pfadvice.com/2007/11/09/teach-your-child-to-be-a-saver-not-a-spender/#comment-142641 Karsten Fri, 09 Nov 2007 20:01:08 +0000 http://www.savingadvice.com/blog/2007/11/09/101869_teach-your-child-to-be-a-saver-not-a-spender.html#comment-142641 This is SO important. Not only in regard to saving money, but also in regard to creating a future environment that is worth living in. At the moment too many kids are learning from their parents that consuming, wasting, polluting, having fun without thinking far, etc. is OK and turn into future wasters and polluters. However, if the kids learn that they will need to do this differently and find recognition for their frugal actions maybe, just maybe, they and their kids will have ENOUGH energy, food, and water to live a good life. Sooner or later we all have to choose between right and easy. In my opinion, it is better to teach kids what is "right" now rather then let them experience later the results of choosing "easy". Karsten http://polluteless.com This is SO important. Not only in regard to saving money, but also in regard to creating a future environment that is worth living in.

At the moment too many kids are learning from their parents that consuming, wasting, polluting, having fun without thinking far, etc. is OK and turn into future wasters and polluters.

However, if the kids learn that they will need to do this differently and find recognition for their frugal actions maybe, just maybe, they and their kids will have ENOUGH energy, food, and water to live a good life.

Sooner or later we all have to choose between right and easy. In my opinion, it is better to teach kids what is “right” now rather then let them experience later the results of choosing “easy”.

Karsten
http://polluteless.com

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