When was the last time that you suck it up and just say no to your children? As we move toward the next year, again we enter the season of spending. One of the major driving force behind the excessive spending during this time of the year is the effort to please our children. However, spending money that you do not have not only hurts you, it also hurts your children. By saying no and living within your needs, you will be teaching your children delayed gratification, self control and impact their future for the better.
Saying One Thing And Doing Another
It is always amazing how the same folks who announce that they do not have the funds typically have the latest and greatest. It is amazing how the co-worker who is struggling financially has the required funds to take a vacation. It is also interesting how not only do they have the latest toys and gadgets, but so do their children. Where are they getting it from?
Let us not speculate. However, it does offer an interesting view into other people’s habits. This is not new, the act of saying one thing, yet doing another. With this in mind, why are we surprise when our children act in a similar manner?
Just Say No To Your Children
It is always difficult to tell our children no. It is difficult for us to punish them. However, at a certain point we must perform our roles as parents for their growth and development. Just as you work with your children with their school work, teaching them how to play a sport or how to be a contributing part of society, so must we say no when it is required. Financial literacy should be apart of their development.
In the holiday season, just say no. Whenever you are asked to spend what you do not have, just say no. We understand that this is easy to say but difficult to do. This is especially the case when your children have friends who are receiving the new and latest toys. In some cases we satisfy our children’s wants to prevent a tantrum or a melt down. For many parents, it is also a matter of ensuring that their children fit in socially. However, if we are teaching our children to have what others have no matter the cost, financially and otherwise, are we really doing them a service?
If our children’s friends have the newest and most expensive phones or other electronic devices, should your children also have those items? If you cannot afford it, you must have a conversation with your children. It may be the most opportune time to discuss money and how money works.
Think Long Term
If we are purchasing material items that we cannot afford, we are not only putting our financial future in jeopardy. Our acts are also putting our children’s financial future in jeopardy as well. We are essentially teaching our children that they can purchase things that they cannot afford. Do not be surprise by our children’s decision to put things on credit and overspend in the future. Note that our children are watching. Our children model their behaviors after what they see and hear. Believe it our not, we can have a huge influence on their future spending habits. Consider the current state of finance today, it is no wonder we have so many finically illiterate folks.
Let us make our children’s financial literacy apart of what we are teaching. Let us act as parents. Like with school and so many other tasks, we are the parent and not your children’s friend. Let us aim to try and find a way to teach them such that they can in the future be better than we are. Let us give them the tools to make better decisions.
Conclusion
When was the last time that you suck it up and just say no to your children? As we move toward another year, again we enter the season of spending. One of the major driving force behind the excessive spending during this time of the year is the effort to please our children. However, spending money that you do not have not only hurts you, it also hurts your children. By saying no and living within your needs, you will be teaching your children delayed gratification, self control and impact their future for the better.
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