There was much wailing and gnashing of teeth in our household tonight from The Boy about finances. He is wanting a new pocket knife but doesn't have enough to pay for it from his own funds. It was interesting to see his thought process and how what we've taught him has sunken through the layers. First he asked if there was some way for him to earn the money he was short. I told him he should check with his aunt and Oma and see if they needed some jobs done that they would be willing to pay him for. Then he asked if I could just give him the money. I told him we don't get paid again for another week and that wasn't going to work as we'd like to eat and put gas in the car, not to mention have enough money in the bank to cover the outstanding cheque for his summer Scout camp. Then he asked about money owed to him. I found it interesting how the whole conversation made me squirm a bit from having to say we couldn't afford to just give him money to how yes, we did owe him money for the use of his camera but couldn't pay him right now. Our own relationships with money get laid bare when having these types of conversations with our children. I am heartened by some of the things I can see he's learned such as how money is earned through hard work and that saving up for something is important (delayed gratification).
We live within our means, making sure our bills are paid each month and that we are both home each night for dinner. We don't have much extra right now so what little that is left over after bills and groceries has to be carefully spent. Some months that means a new furnace filter and shoes for growing feet and some months that means we go out for breakfast as a family because we need a treat.
I think my children will learn more from growing up in a thrifty home than if we gave them every opportunity we could and worried about how we would pay the mountain of credit card debt needed to make them "well rounded adults". What do you think?
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