We are now trying to make up for lost time - saving for retirement, saving for another adoption, saving for a new car (we avoid paying for our life on credit), saving for future college expenses for our future kids, saving for a trip to Spain that we'd like to take in two years for our tenth anniversary. That means A LOT of not-spending right now.
While we've managed to avoid being foolish with our money, we definitely have not been proactive about finances until the last few years. If we can, we'd like to impart our little bit of wisdom in this area to our children. So here's how we've begun...
Little P now has a piggy bank. Actually, his is a decoupaged Zoo News bank made out of an Ovaltine can. But whatever. We gave him some change found in the junk drawers and laundry cabinet. The Papa even donated a real paper dollar to the cause. He can now save for the lovely items he looks at in the Lakeshore catalog.
Yes. He loves to read through the Lakeshore catalog. He asks questions about the colorful objects that are found therein.
He can also learn the value of money. Here's a little conversation he had with The Papa tonight:
LP: picking up a dime to put in the bank
Papa: Benjamin, that's a dime.
LP: Nooooooo.
Papa: Yes, that's a dime. It's the same as ten pennies.
LP: No, Papa. It's a circle!
Little P was SUPER excited to put coins into the can. I mean, we are going to have to keep an eye on all the dumping of money that is likely to occur just so he can reinsert the coins. After the initial explanation and plunking of coins, I ran across a nickel in my pocket and called Little P to come get it. He came running, shouting with glee even, to take the nickel and go put it in his bank.
And on THAT note, we'll leave you with some photos.
Parents, how are you teaching your kids about money management? Do share!
