For years, we at all times used money envelopes for many of our purchases. It labored effectively to assist us persist with our finances, however we slowly moved over to simply utilizing our debit playing cards and monitoring the whole lot by way of YouNeedABudget.
It has labored effectively, till the opposite day once I realized it wasn’t working in addition to I had thought.
Let me let you know 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 additional chores with a purpose to earn cash for issues she desires to purchase.
Nicely, there was one thing she needed to purchase and she or he didn’t have the funds for for it. I informed her she may do some extra chores to earn the cash and she or he replied, “Or you might simply use your card to purchase it.”
I spotted 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 clarify this to her, however I may inform it wasn’t making loads 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 means 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 at the least be sure I’m pulling out money to make use of often 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 now have conversations with our children about cash as early as potential. It’s additionally a superb reminder that the way in which we work together with cash impacts our children and the way they may view and handle cash sooner or later.
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