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Do your kids waste money? email this discussion to a friend?

myLot reputation of 91/100. beautyqueen26 (9134)   ranked 53 out of 3,568 in frugal living2 years ago

My little kid is a real sweetheart. She's the first person to apologize if she thinks that she's done something wrong. She's a real pal. And, amazingly she likes all the TV shows that I do. (We watch Simpsons and Dr. Who together).

Anyway, she's also a big money waster. Literally! I don't think that she actually understands the concept of money, yet. The other week my spouse gave her a one dollar bill as allowance. She carried it around for awhile. She bragged about it. She showed all her dolls the dollar bill. And, ultimately she carried it into the tub at bath time.

The next day, I found bits of shredded green dollar bill in the tub as I was cleaning it out. Needless to say, she no longer receives a money allowance. However she does get the equivalent in gifts. I can get a kid's lip gloss online for a buck. And, a cabbage patch doll for less than ten bucks. She really likes that stuff. Lip gloss she understands. Money? Not so much.

How do your kids waste money? Do they leave the lights on or run the hot water even when they're not using it? Please share your tips for helping kids be more money wise. Thanks!

 
 
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carlaabt (3164) response was accepted on 6/14/2008.
denotes best response.
tags:  my life, wasting money, kids and money, lip gloss
 
1. myLot reputation of 97/100. danishcanadian (20735)   ranked 338 out of 3,568 in frugal living   2 years ago

I don't have kids, but I have two parents who taught us never to waste money. I don't waste my money, but I do enjoy every penny of what I have left after I've paid the bills, and put some away in my savings account. I'm sending this post from the cafe up the street, as a matter of fact, where I'm enjoying a cup of coffee.

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2. myLot reputation of 99/100. ladym33 (5686)   ranked 67 out of 3,568 in frugal living   2 years ago

They leave on their bedroom lights a lot. The one thing they do that bothers me is they leave the milk out in the morning after having breakfast. If I happen to sleep in or something or don't come down to the kitchen right away that milk sits out. This takes away from the amount of time that it will stay fresh. They also still ask me for stuff every time we go shopping, like it is nothing. They beg and promise to pay me back when they get the money. Actually my daughter is fine she has a lot of money that she has saved from birthdays and stuff, but my middle child (son) has a problem of money burning through his pocket the moment he gets it and he never has any money. Of course he is the one always saying I'll pay back when I get the money, I tell him you can have the item after you get the money.


myLot reputation of 91/100. beautyqueen26 (9134)   ranked 53 out of 3,568 in frugal living  2 years ago

Sound advice! That's good mom wisdom. In about four years, my little kid will be able to understand that.

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3. myLot reputation of 96/100. cher913 (13937)   ranked 9 out of 3,568 in frugal living   2 years ago

sadly for some kids it doesnt get any better...we have a 15 year old who has no money sense at all! where as her younger sister is so good at saving and spends her money wisely. the older on, we still need to work on!

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4. myLot reputation of 98/100. carlaabt (3164)   ranked 587 out of 3,568 in frugal living   2 years ago

My son is still too little to really understand the concept of money. The one thing that he does that wastes money is flipping his lights on and off a lot. He sleeps with his door closed, so a lot of times I don't even know he's doing it, unless I happen to walk by and see the light strip under his door.

Elliott does, however love to have his own money. He loves finding change and putting it in his bank. He doesn't know what he is supposed to do with it, but he knows it's good to have!


myLot reputation of 91/100. beautyqueen26 (9134)   ranked 53 out of 3,568 in frugal living  2 years ago

cool That's too cute! My little kid is obsessed with change that she finds around the house. She finds little boxes and hides it. It's sort of like a piggy bank. Once we had a toy duck bank and she stuck all her money into that. It got so full of change that I had to put it into the cabinet. She asks about it once in a while.

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