|Of course it doesn't grow on trees - it magically comes out of ATMs!!!!|
When's the last time you created a long-term action plan on teaching your children how to deal with money? Been awhile? Ever? Still trying to figure it out for yourself? This article in Forbes Magazine was quite informative and provided a lot of great ideas on how to teach your children well the value of the dollar!
Here's the link:
It is crucial to educate your children from toddler on up about how to manage money. There are soooooo many kids out there that have no bloody clue about how much it takes to earn a dollar, thanks to parents who have abdicated their role as parents and instead become friends who placate/reward/spoil rotten their kids with expensive toys, clothes, gifts and whatever instead of teaching them to save, or get off their sweet little dupahs and earn the money with chores, babysitting, a part-time job, etc. You are doing SUCH a disservice to your children - you are handicapping them for life! If they have everything handed to them, they will never feel the satisfaction/personal accomplishment of working hard for their paycheck. They will instead have a sense of entitlement to whatever tickles their fancy and all too often will expect you to provide it for them. Or they'll just charge it (either on Mommy or Daddy's card or their own) and not realize the consequences that can mount up over that bad choice!
I want this... I want that... Well guess what? We ALL want things, but we ALL have to learn to wait until we have the money for it - and not join the bandwagon of all those folks who are now in debt over their heads because they racked up horrific credit card debt for instant (and not long-lasting) gratification. Do you really want to teach THAT skill to your kids? I think not!
So read this article from Forbes, and put it into practice - you will help your child, yourself, and the economy over the long run! Raise financially responsible and frugal children - and be the first and foremost example to them as well!