2.16.2007

Frugal vs Friendship Necklaces

Sorry I have not been able to post lately. I have been on the verge of death ( just kidding) and could not lift the laptop without needing to lie down, but I am feeling better now. So without further ado, I will type the rest!

Dear Mr. Munnybagz,

My wife and I have always talked about money with our two kids. Our son, 13, is quite good at managing his money. He chooses to bank everything he gets. Our 10-year-old daughter, however, tends to spend whatever she has on things like extra milk, pencil grips, and friendship necklaces. Do you have any tips for us? How can we teach our daughter to be more frugal?
Sincere regards,
A Concerned Father

Dear A.C.F,
How many pencil grips does one need? Anyways, this is a very easy problem to solve. If she's going to continue to waste money like that, you can put her allowance somewhere safe so she can't spend it. And explain to her that if she continues to spend money like that, she'll have tough times later in life. Also, give her more milk at dinner so she's not as thirsty... And one final piece of advice: if she really wants to buy those things, let her. After all, she's only 10. Not many kids have any money sense at all at that age. So she will learn when the time is right.
So until next time, wait until next time!
Munnybagz

1 comment:

FINANCIALLY BRAINWASHED said...

You should hold seminars with people your age to give them an advantage and a head start in life. You can do what the schools are failing to do...teach your peers about money!

Congratulations and all the best!