Teaching my daughter how to work with a budget

Philadelphia, Pennsylvania
August 5, 2015 6:28pm CST
Today I had to teach my daughter how to budget her money so that she doesn't get overwhelmed by her debt. She was upset because she is afraid that she was going to fall behind on her rent payments to me and never get a chance to save money. I had to explain to her how to pay what she can afford each month without spending everything and over a couple months she will be caught up. We discussed how to recognize the priority bills that come up each month that MUST be paid and the rest of the bills can be paid little by little (like credit cards) and it will eventually make them go away. Interesting enough, my parents never taught me to do this, life did. I figured if I jump on teaching her fiscal self-control now, she will be able to avoid some of the monetary pitfalls that has made many of us broke as she get's older and her responsibilities increase.
3 people like this
4 responses
@PhredWreck (6051)
5 Aug 15
Idjit. Yer just lookin' fer trouble. Intimating that you are smarter than a woman and can teach them somethin'. I hope ya got plenty of sammichs and clean underwear stockpiled.
2 people like this
@glasser3 (354)
• Hibbing, Minnesota
5 Aug 15
Funny but true!
• Philadelphia, Pennsylvania
6 Aug 15
@PhredWreck You will be probably be some fine woman's pavement licker one day
@Rosekitty (19438)
• San Marcos, Texas
6 Aug 15
My Parent never taught me either but for some reason i always enjoyed budgeting..knowing what to pay that had to be paid and what was left over went to food or fun....so nice of you to make sure your daughter doesn't fall into your old tricks of living off a bum..hahah
1 person likes this
@glasser3 (354)
• Hibbing, Minnesota
5 Aug 15
I don't know how old your daughter is but this is a good skill to learn as young as possible. I wish I personally had been taught this lesson when I was younger as it could have kept me out of some of the troubles I am currently facing. Good Job!
1 person likes this
@TLChimes (4842)
• United States
6 Aug 15
The things they cut from a school budget were the classes that taught people important grown up skills. How to change your own tire and oil. How to cook something without a microwave. How to sew on a button and a simple shirt repair. It's good when a parent can do it but a lot don't or are too busy working two jobs.