Sunday, January 11, 2009

Money matters

Today's lesson with my kids was on the importance of saving money. Since I have a combined $236.33 in my savings and checking accounts until the end of the month, I may not be the best role model for my kids.

This definitely qualifies as one of those "Do as I say, not as I do" moments. There are a lot those in my household.

But, nevertheless, it was my duty to get my kids on the right track when money is involved. It is going to be a challenging task to say the least.

Over the weekend, my second-grader has been finding change all over the place. In two days of looking, she has amassed just over $5 in quarters, dimes, nickles and pennies. After spending over an hour counting and recounting her loot, she was ready to go shopping...

"Dad, can we please go to the dollar store? I can buy five things. Five, Daddy!!"

"Baby, why don't you save your money so you can buy something better a little later?"

"What's better than five things from the dollar store? I can get a pencil, crayons, a notebook and two bags of M&M's!"

She certainly had already mapped out a shopping list. However, I tried to use reasoning to get her back on my side.

"Listen... Why don't I let you look on the internet and you can see if there is anything on the Toys R Us page you would want. Ok?"

She agreed to take a look and I left her to do some window shopping, so to speak. Two hours later, she had an impressive list. Nothing on the list was close to costing $5. A sample of what she had found:

1) Carnival Games for Nintendo Wii
Price: $39.99

2)Baby Alive Potty Training
Price: $34.98

3)Barbie & The Diamond Castle Playset Doll and Pet
Price: $92.99

4)18" Girl's Disney Fairies Bicycle - Huffy
Price: $99.99

5)Nintendo DS Lite Onyx
Price: $129.99

She was really excited about the list until I explained to her how much more money she would need to get each item. Disappointment was written all over her face.

"Do you know how much longer I am going to have save to get them? It's going to take me for ever! But, I'll do it... I guess."

As she walked away from me with her money and headed upstairs, I told her I was proud of her and the decision she made. She turned around to me and I thought she was going to say thank you. I was wrong.

"You are just glad you don't have to take me to the dollar store. Now, you can keep watching football."

Wow... she is smarter than I thought.


  1. This post really made me laugh!
    I remember our kids saving for things they wanted. Usually, they would get to a certain point, then rethink their needs to something they had enough money to buy! Not really 'saving'.

  2. Hello, and thank you for visiting my blog. I am curious how you got over to my place. This was a great post and I like the blog design. Welcome to the blog world, you will find if facinating. A few other blogs you might want to checkout, you can reach them from my blog list. Lance at The Jungle of Life, Chris at Life or a Facsimile thereof, Caroline at The Zen In You, Octamom, and Middle Age Ramblings. Wordful Wednesday is fun at Seven Clown Circus and Photo Friday is also great at Our Chaos Our Bliss. Happy Blogging!

  3. Hi! Glad you liked the movie review. I thought your post on saving money was funny. still have to teach her about tax. That means she could REALLY only buy 4 things. :)

    Welcome to blog world!

  4. At least you got to watch football.

    AND you don't have the Baby Alive in your house/ Those things are scary.

  5. Thanks for popping by my blog! I enjoyed reading your blog! Your posts are touching!

    I also learned what not to do ~ I'm not going to tell my kids about Toys R Us websites! Let them find it on their own! LOL!

    Good luck with the financial teachings! I'll be approaching that topic soon with my kids too!

  6. I'm so glad you stopped by. Her list looks a lot like my 3rd graders would. And she would have said to me, "how about if I put in $5 and you pay the rest?"

  7. I am still laughing at her football comment. Just when you think your kids really get it, they make a point of letting you know they don't appreciate anything about you. Nice post, I look forward to return visits.

  8. I have been told by seasoned professionals that it takes 2,000 times of hearing something for it to sink in. Yikes! You are down to 1,999! Hang in there.

    Thanks for stopping by my site. I have enjoyed reading yours too!

  9. I see you have been to my friends MJ and AVTCoach's sites. Interesting how people's lives (blogs) cross. Thanks for stopping by mine. I enjoyed reading about your daughter's straight shooting demeanor. She sounds like my son.

    Keep on Blogging.

  10. Thanks for visiting me and for the comment.
    Tomorrow with the wind it will feel like -25C here...does that make you feel warmer?
    Good luck teaching your girls to save.
    My eldest granddaughter likes to go to the bank each week, and put all her allowance into her growing savings account. Still she usually comes back with a treat.
    She informed me her money is for saving, if she wants to buy something, she spends Daddy's money.

  11. Beware of the children's intelligence--they will take over!
    Welcome to the blogosphere, look forward to reading more soon.

    BTW, thanks for the comment. Just for record this is NOT a thank you card. LOL

  12. Ha! Ha! What a great story. I don't blame her. Five things from the dollar store sound good to me too.

  13. You're new to blogging and you're already getting 12 comments? That's amazing, how'd you manage that?

    Money is such a hard concept to teach children. When my daughter turns 4 in March, I plan on taking her to the bank to open an account. I'm hoping this will give her some incentive to save a bit as she is very much like your daughter.