For years, we all the time used money envelopes for many of our purchases. It labored nicely to assist us follow our funds, however we slowly moved over to simply utilizing our debit playing cards and monitoring every little thing by way of YouNeedABudget.
It has labored nicely, till the opposite day once I realized it wasn’t working in addition to I had thought.
Let me inform you about it…
You see, we’ve been educating Kierstyn (our 4-year-old) about cash. We’ve been speaking about how the way in which to pay for issues is to earn cash. We’ve been giving her alternatives to do further chores so as to earn cash for issues she desires to purchase.
Nicely, there was one thing she wished to purchase and he or she didn’t manage to pay for for it. I instructed her she might do some extra chores to earn the cash and he or she replied, “Or you may simply use your card to purchase it.”
I noticed that she has no idea that my debit card is linked to our checking account which has the precise money in it. I attempted to elucidate this to her, however I might inform it wasn’t making lots of sense.
She simply thinks that swiping a plastic card means you don’t have to make use of cash to pay for one thing. And {that a} plastic card is entry to limitless potential to purchase issues.
I’m pondering possibly it’s time to return to money envelopes for awhile so my youthful children see me utilizing actual money like my older children did? Or not less than be certain I’m pulling out money to make use of frequently and having these conversations with the youthful children about how money, banks, debit playing cards, and cash works.
This story of Kierstyn is why it’s so vital that we’ve got conversations with our children about cash as early as potential. It’s additionally an excellent reminder that the way in which we work together with cash impacts our children and the way they’ll view and handle cash sooner or later.
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