Whenever I read or post an article that suggests that someone cut down spending on their kids, I’m always amused (and amazed) by the outraged comments. If you dare to suggest to someone that is struggling that they cut down on the sports or extra curricular activities, take the kids out of private school, cancel a vacation to an expensive destination,...
At our house I live by “they don’t miss what they never had”!! My kids are happy and well adjusted, they don’t “expect” much from us and work for what they do want. I see spoiled brats all around us that think they “deserve” all the newest stuff, these kids will just turn into adults that think they can’t live without a houseful of crap!
Wise words in this article. I know firsthand how hard it is to say no to kids (mine are 13, 10, and 9), but I so want them to understand the pitfalls of living beyond your means and accruing debt – as well as the deep, intrinsic joy that comes from living a simple life, filled with simple (affordable) pleasures. It’s so important to lead by example because they are watching everything we do – and the relationship they come to have with money will follow them all the days of their lives.
It’s important to remember that love and security go a lot longer way than any present you buy. I think we all forget that far too often.
My 2yo son was hanging out with his grandfather today and he made my son pay the cashier the required amount at the store. My son then waited for the change and told him to count it. He has a quarter, dime, and 2 pennies. My son said 1 2 3 4. We have four grandpa.
I’m sure that was the cutest thing ever!
I had a dire childhood and I know that the most important things you can give children are:
Love and security in that love.
Support and encouragement.
Appart from the obvious necessities of life, everything else is useless without an abundance of these two things.
Sorry about the ‘appart’ instead of apart. My emotions run high when I think about these things!
I would trade EVERY gift, toy, lesson, or trip I EVER received to give my parents money during their retirement. Now, with 2 young kids of my own, I am giving my parents $10,000 a year (plus $60,000 downpayment on their house) to help them live.
Stop being selfish (those gifts and toys are just your way of bribing them for not having time together) and REALLY put them first!
I agree 100%, the most important things you can give a child is your time and your love. Things like private schools and expensive toys are nice, but if money is an issue, you have to make sure they get food on the table
Thanks for the great reply. I am close to retirement and have been struggling between fully funding my retirement versus paying for youngest kid’s grad school. Your comments really snapped me back into reality. He’ll be paying for it himself – and not at the expense of our retirement.