Money Rules Wrap Up: Plus Kids Tips #SavingMadeSimple #PGmom
I can be rich.
Today is March 1st which means two things; Spring will (fingers crossed) be coming soon and my P&G Family Financial Challenge with Gail Vaz-Oxlade has come to an end. Although this challenge has come to an end, I have seen money through a whole different set of eyes. In a combination of Gail’s eyes and my own eyes, I feel our financial freedom is with-in reach.
I know what your thinking Tammy really your financial freedom is with-in reach?
It is funny this month not only did I read Gail’s book Money Rules but I have been reading a book called Secrets of the Millionaire Mind. Between the two books I feel like 2014 is the beginning of our new confidences when it comes to money. New files have been written so to speak in our minds. I don’t want to just get by, I want to be rich. There I said it!
Start young.
It is our job as parents to model money to our children, in a positive way. A few Christmas’s ago my sister brought these for our children and to-date they are the best gift they have ever received. They are slowly filling them up with nickles, dimes and loonies they get along the way. Happily saving their money.
I believe in being open to your children. We have always been open when it comes to money. I don’t want to file in their minds a false truth. If the children ask for something that is material ( or above and be on what they need) I straight up say with detailed explanation…
“Daddy and mommy work hard for the money we have as a family and we prioritize it to make our family grow. I understand you love that and really want it, but sometimes you cannot get everything you want. But you have a warm house with your own bedroom filled with fun toys and acres of land to run on. Mommy cooks healthy meals and you are healthy and happy children. You are blessed.”
How do you talk to your kids about money?
I know WE can.
In honor of the P&G Family Financial Challenge with Gail Vaz-Oxlade we have squeezed by this February with pig-headed discipline. Not only did we dig deep into our fridge and freezers (which I like full to the brim) we got organized in our closets and even on the money books (thanks hubby). Only spending cash this month which I actually enjoyed. We came out of top, with a savings of….drum roll please…
10% of our income back into savings.
Did you follow along during the P&G Family Financial Challenge with Gail Vaz-Oxlade and my follow P&G Canadian Bloggers? #SavingMadeSimple
I’d love to hear you money-saving tips below.
Thanks for reading In R Dream!
Disclosure: I am a P&Gmom/mamanP&G. As part of my affiliation with this group I receive products and special access to P&G events and opportunities. The opinions on this blog are my own.
I really want to teach my son as early as possible about money. I’m going to start with allowances and make him pay for his “treats” at the store.
When I go shopping I usually shop sales and take coupons then I figure out what I saved by using the coupons and transfer that amount into my savings account. It’s money I would have spent otherwise and it only makes sense to set it aside.
Great tip about talking money to your children, we aren’t at that age yet but it will come in handy soon enough!
I don’t want to be rich…. I want to enjoy my life and live within my means. For us that means that we have savings that we add to automatically for RRSPs and RESPs, accounts where we save for “fun expenses”, and always pay off our credit card every month. We don’t spend more then we actually have, and work towards saving money for the things we want.
Great tips, Tammy! I especially like how you explain things to your children. That is what we try to do. I am a firm believer in having kids understand the value of money, that it doesn’t just grow on trees, etc. This tip doesn’t work for all but, I put all my purchases on my visa that gives me travel rewards. When I come home from shopping/groceries, I automatically make a payment to my visa to offset what I just spent. It’s amazing how the rewards add up by doing that. BUT, you have the discipline to do this correctly – paying off each shopping trip as you go, otherwise you could end up with big money problems 🙂