For years, we all the time used money envelopes for many of our purchases. It labored effectively to assist us persist with our funds, however we slowly moved over to only 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 inform you about it…
You see, we’ve been educating Kierstyn (our 4-year-old) about cash. We’ve been speaking about how the best way to pay for issues is to earn cash. We’ve been giving her alternatives to do additional chores as a way to earn cash for issues she desires to purchase.
Effectively, there was one thing she needed to purchase and he or she didn’t come up with the money for for it. I instructed her she may do some extra chores to earn the cash and he or she replied, “Or you could possibly 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 elucidate this to her, however I may inform it wasn’t making a variety 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 capacity to purchase issues.
I’m pondering perhaps 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 make sure that 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 now we have conversations with our youngsters about cash as early as doable. It’s additionally a superb reminder that the best way we work together with cash impacts our youngsters and the way they are going to view and handle cash sooner or later.
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