For years, we at all times used money envelopes for many of our purchases. It labored effectively to assist us keep on with our finances, however we slowly moved over to simply utilizing our debit playing cards and monitoring all the pieces by way of YouNeedABudget.
It has labored effectively, till the opposite day after 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 further chores so as to earn cash for issues she desires to purchase.
Properly, there was one thing she wished to purchase and she or he didn’t manage to pay for for it. I instructed her she might do some extra chores to earn the cash and she or he replied, “Or you can 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 might inform it wasn’t making a whole lot 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 ensure that I’m pulling out money to make use of usually 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 conversations with our youngsters about cash as early as attainable. It’s additionally a great reminder that the way in which 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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