Tag Archives: fiscal responsibility

Getting Started: Dreams for Our Kids Step Two

So how did it go? Did you try making a list or mind map of your wildest dreams for your kids? Was there anything that surprised you?

It’s difficult to create a purposeful plan for parenting if we don’t first know what it is we want to teach our kids. So in this second part of our dreaming, take some time to examine each of the items on your list. Ask yourself, “If I want my child to be fiscally responsible, what do I need to teach her?”

If you looked at the mindmap I posted for my son, you’ll see that I put fiscally responsible as one of my dreams for him. There were several things over the years that I did to help teach him how to deal with money.

  1. When he was little and would ask for something in the store, I would tell him how much time his daddy had to spend away from him at work in order to earn that much money. I’d then ask him if it was important enough to him to had his dad at work that long.
  2. I made chore charts and assigned a monetary value to each thing. Any time he wanted a new matchbox car or dinosaur, he could pick out a chore or two that he could do to earn that much money.
  3. When he was in 8th grade, I opened a checking account for him and got him a debit card. Before he could have the debit card, he had to submit a budget to me listing how he would spend the portion of money I put into his account. He had to include haircuts, body wash, toothpaste, video games
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Filed under Dream a Little Dream of Me, Getting to Know Our Kids