Am I Raising A Cheapskate???

My household has been rolling through some changes. As time moves forward, as I spend more time in the workforce, as we buy nicer cars, clothes and homes, I’ve truly come to realize the value of a dollar. I have never been and am not naturally frugal, and unfortunately probably wouldn’t even qualify as frugal today (although I’m trying!). However, my goals and concerns are changing. 

Everyone likes nice things, but I must say those nice things just aren’t as important to me anymore. As I grow and make realizations about money and budgeting, I try to share this cost-conscious mind-set with my children. 

My daughter is five and, for her, “money ain’t a thing.” (Hope you enjoy that Jay-Z reference…I’m a child of the 00’s 😏). She was excitedly talking about the next enormous, ridiculous thing she wanted…it’s hard to recall if it was a horse, helicopter, or mansion. She thinks big. What I do remember very vividly is my son looking at her skeptically and saying, “Do you know how much that costs?!”

 

That was a moment for me. Is it okay that my eight-year-old is thinking about the cost of something instead of dreaming of the biggest and best? I wasn’t sure if I should be proud or a little sad. There are times I wish we didn’t have to worry about budgets and discounts. Times I wish we were in a position to give our children everything they want.

 

But in that moment, and as I reflect now, I choose to be proud. I talk candidly with both my children about money, about spending money and saving money. They earn money for “work” they do. When they choose to spend, I make them put an equal amount of cash into their savings accounts. I’ve even had them begin to choose between big birthday parties or big birthday presents, we don’t do both. I want them to realize the value of not only the tangible things in life, but also the value of experiences. 

My kids don’t suffer for much. We’re extremely fortunate in the fact that they don’t always have what they want, but they do have what they need. I don’t take that lightly and am very grateful for that. I also talk with my kids about this fact. There are people, there are even children, who do not have what they need. We are fortunate to live the life we do.


Today, as I continue to learn about how to make the most of this life, financially and otherwise, I will continue to talk to my children in an honest and frank way about the important money choices we make. I’m interested to hear from my readers if this is something you work on with your kids. What have you found that works? Do you talk about money with your children? 

Also, let’s talk budgets and savings!!!  What works for your family? My family has recently gone sans-satellite and cable and switched to streaming tv only (saving $70 every month). We’ve read and studied Dave Ramsey and are fans of the cash envelope system.  Where else can we improve? I’d love to hear all of your money-saving tips and tricks!

I’m wishing everyone a wonderful Sunday!

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nolucknecessary

Christian first. Wife second. Mom third. Friend, colleague, runner, music lover, style enthusiast, lover of life. Excited in all things...believer that this life is a great adventure.

4 thoughts on “Am I Raising A Cheapskate???”

  1. Loved this post and the contrast between your two kids.. I do think people have a natural orientation. I do and always have talked money with our daughter. She has seen our budget and has her own spreadsheet. (12 years). She knows we are debt free and that our smallish home is what allows me to only work part time and be home in summer w her.
    We have talked about college savings and the process of deciding what you can afford.

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    1. That’s so great, Jen! I sometimes worry I talk to much reality with my kids. The “let them be little” mantra runs through my mind. But really, I know they are capable of so much more than we give them credit for. And honesty is always the best policy. My goal isn’t always to make them obliviously happy, but to grow them into healthy, happy adults. And being honest about money is a huge part of that. Thanks for taking the time to read and comment!! I appreciate it.

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