My wife have 2 children (our son is 10 and our daughter is 7), and instead of giving them allowance, we have them earn commission for tasks around the house.
If they want to buy something, then they need to look around the house and figure out something that needs to be done, come to us, and negotiate the commission that they'll earn. We've found that it's a great way to motivate them to both earn money and also to develop their problem-solving/opportunity-spotting skills.
As a business owner, I want to teach my kids the skills they need to be successful so that they might someday start their own businesses. One of the best benefits of being self-employed is the paradigm of independence, freedom, flexibility, and possiblity which I didn't have as an employee. Owning a business has truly changed my life; I blog about that and other issues on my blog (http://www.StartMyConsultingBusiness.com), where I show others how they can start and run a successful consulting business.
I truly believe that entrepreneurial skills have to be taught to our children if we want them to be financially independent and successful.
These are all great lessons for kids, but one thing that's missing is that dovetails with the above lessons is to teach your children entrepreneurship. Building a business involves all 7 of the lessons mentioned above, but having your children understand that they can build a business or see you do it yourself is extremely powerful.
I'm self-employed and have 2 children (my son is 10 and my daughter is 7), and it's extremely important to me to show my kids that building businesses is something that they can do. It's important to me because having your own business can give you financial freedom, greater flexibility, and the skills to be financially independent, rather than relying on a job for income.
I started my consulting business over 4 years ago, and it's truly changed my life as well as my family's. I blog about it on my website (http://www.StartMyConsultingBusiness.com), where I show others how they can start and run a successful consulting business.
I've seen my kids shift their thinking about what they want to be when they grow up, and now they're talking more about what kinds of businesses they want to have. That perspective is an amazing gift to be able to give my children.
LOVE our local library. Going there tonight with the family, actually. We save hundreds of dollars - I am an avid reader, my husband is a music & audiobook fiend, and my kids get to check out "new" movies every week: FREE. Though we do support them monetarily in late fees... ha.
Great list! I need to work on prepping vegetables ahead of time. I tend to just stick them in the fridge and forget about at least half because they get buried behind other stuff. I've also made the same error in logic as your roommate -- I really don't like leftovers that much! Okay for lunches, but I don't like eating the same thing over and over for dinner. Fortunately my husband brown bags, so between his lunch and me and the kids eating lunch at home, we usually work our way through the leftovers. I've also started putting leftover cooked meat into the freezer to use for soups & casseroles later.
Exactly, Justine. It's actually so FUN for us as parents when we can buy them that lavish stuff - and sometimes it's fine, but I'd rather do less of that and give them the long-term gift of knowing how to handle money and find enjoyment in simple things.
Hi Nora, I like the idea of this exercise. Sounds creative. I'm writing a book about how to change your life and wondered if I might use this exercise - with a credit to you and your site of course. Let me know. Keep up the great advice. Stu :)
You're making it sound like she's financially doomed for wanting to be a parent, subtly saying don't have kids - they will destroy you. Another attempt at undermining the family - the most crucial part of society. If it fails, the world also fails. There's a lot more goin on here that that, but the writer seems slanted this way.
I saw a web comedy series about that. I also read a really sad feature story in a newspaper about people that have resorted to it. Most facilities would evict you immediately.
It brings up the question - could you actually create such no-frill housing as to be able to charge a nominal fee like $50/month?
Thank you for this great article on the value of public libraries. I'm writing this from my station at the reference desk. So far this shift I've helped students find books on science digital filmmaking, as well as helped other people print documents they need for work and school. There are a lot of people here jobhunting, either on our computers or on their laptops (free wireless is yet another perk we offer). Earlier today I worked on the script for one of our resume-writing classes, decided what new books to purchase for my department this week, and proofread some articles for our daily blog that keeps our patrons informed of all the great things we do. If you haven't been to your local library lately, stop by and say hi - you might be pleasantly surprised at all the things we can do for you, even -- perhaps especially - in a digital age.
Cheers for raising frugal kids! I think its nice if you can afford lavish things for your kids, but you may ultimately be setting them up for a lot of disappointment (or DEBT) when they grow up expecting to always have the newest and nicest things but cannot afford them.
I tell people to get it all the time, but I still haven't completed the paperwork. I have no excuse! We are moving within the next month - I'll use that as a chance to create a proper inventory and get coverage.
What many don't know about their local library is all the free programs/classes they offer. Depending upon your location, you are likely to find free computer classes, language classes, book clubs, story and activity times for children/teens, and more. Inquire at the information desk. Some libraries offer print and/or e-mailed monthly newsletters.
I recently went to buy a couch off of Craigslist. When I arrived at the seller's apartment, I discovered that, yes, it was a beautiful black microsuede as promised...but the back had candle wax on it. Not only that, but there were a couple of spots on the cushions where the owner -- a painter -- had splattered white paint, and then painted over it with black paint! I still ended up buying the couch (it's super comfortable, and I was able to talk the price down), but man oh man, there was a lot of information about the couch's condition missing from that Craigslist post!
Bill, you're right --- I know I shouldn't compare, and I work at not doing so. Comparison is definitely not the way to build a happy, independent, creative family life. And I'm realizing more and more, as I raise my kids, that I don't WANT them to fit in in most areas of our culture. I'd rather them be a little weird if that's what it takes for them to think for themselves, set their own standards, and be free to live life their way without feeling the need to please society.
That's great stuff, Lisa! And that's awesome that you and your husband have skills for finding and using those often overlooked resources and you can pass those abilities on to your son. Kids learn so much by example! I overheard 2 of mine the other day having a pretend phone conversation, bartering stuff with each other and setting up times to meet!
Great lessons! I'm fine with my kids having new things, and want them to appreciate nice things, but even more than that I want them to learn how to enjoy what's in front of them, be creative, have fun, and find resources instead of depending on "buying something" to have fun/fix problems.
Great list. Another benefit of prepping veggies once a week, making meals in advance and making large quantities is the fact you don't have to clean the kitchen as many times in a week. It will also cut down on dishes washed.
My wife have 2 children (our son is 10 and our daughter is 7), and instead of giving them allowance, we have them earn commission for tasks around the house.
If they want to buy something, then they need to look around the house and figure out something that needs to be done, come to us, and negotiate the commission that they'll earn. We've found that it's a great way to motivate them to both earn money and also to develop their problem-solving/opportunity-spotting skills.
As a business owner, I want to teach my kids the skills they need to be successful so that they might someday start their own businesses. One of the best benefits of being self-employed is the paradigm of independence, freedom, flexibility, and possiblity which I didn't have as an employee. Owning a business has truly changed my life; I blog about that and other issues on my blog (http://www.StartMyConsultingBusiness.com), where I show others how they can start and run a successful consulting business.
I truly believe that entrepreneurial skills have to be taught to our children if we want them to be financially independent and successful.
These are all great lessons for kids, but one thing that's missing is that dovetails with the above lessons is to teach your children entrepreneurship. Building a business involves all 7 of the lessons mentioned above, but having your children understand that they can build a business or see you do it yourself is extremely powerful.
I'm self-employed and have 2 children (my son is 10 and my daughter is 7), and it's extremely important to me to show my kids that building businesses is something that they can do. It's important to me because having your own business can give you financial freedom, greater flexibility, and the skills to be financially independent, rather than relying on a job for income.
I started my consulting business over 4 years ago, and it's truly changed my life as well as my family's. I blog about it on my website (http://www.StartMyConsultingBusiness.com), where I show others how they can start and run a successful consulting business.
I've seen my kids shift their thinking about what they want to be when they grow up, and now they're talking more about what kinds of businesses they want to have. That perspective is an amazing gift to be able to give my children.
so what do we do? How can we do what we want in life without money?
LOVE our local library. Going there tonight with the family, actually. We save hundreds of dollars - I am an avid reader, my husband is a music & audiobook fiend, and my kids get to check out "new" movies every week: FREE. Though we do support them monetarily in late fees... ha.
Great list! I need to work on prepping vegetables ahead of time. I tend to just stick them in the fridge and forget about at least half because they get buried behind other stuff. I've also made the same error in logic as your roommate -- I really don't like leftovers that much! Okay for lunches, but I don't like eating the same thing over and over for dinner. Fortunately my husband brown bags, so between his lunch and me and the kids eating lunch at home, we usually work our way through the leftovers. I've also started putting leftover cooked meat into the freezer to use for soups & casseroles later.
Exactly, Justine. It's actually so FUN for us as parents when we can buy them that lavish stuff - and sometimes it's fine, but I'd rather do less of that and give them the long-term gift of knowing how to handle money and find enjoyment in simple things.
Thanks, Jonathan! Parks, playgrounds, walks... all free stuff that my kids love; they don't mind ice cream, either...
Hi Nora, I like the idea of this exercise. Sounds creative. I'm writing a book about how to change your life and wondered if I might use this exercise - with a credit to you and your site of course. Let me know. Keep up the great advice. Stu :)
You're making it sound like she's financially doomed for wanting to be a parent, subtly saying don't have kids - they will destroy you. Another attempt at undermining the family - the most crucial part of society. If it fails, the world also fails. There's a lot more goin on here that that, but the writer seems slanted this way.
I saw a web comedy series about that. I also read a really sad feature story in a newspaper about people that have resorted to it. Most facilities would evict you immediately.
It brings up the question - could you actually create such no-frill housing as to be able to charge a nominal fee like $50/month?
Thank you for this great article on the value of public libraries. I'm writing this from my station at the reference desk. So far this shift I've helped students find books on science digital filmmaking, as well as helped other people print documents they need for work and school. There are a lot of people here jobhunting, either on our computers or on their laptops (free wireless is yet another perk we offer). Earlier today I worked on the script for one of our resume-writing classes, decided what new books to purchase for my department this week, and proofread some articles for our daily blog that keeps our patrons informed of all the great things we do. If you haven't been to your local library lately, stop by and say hi - you might be pleasantly surprised at all the things we can do for you, even -- perhaps especially - in a digital age.
Cheers for raising frugal kids! I think its nice if you can afford lavish things for your kids, but you may ultimately be setting them up for a lot of disappointment (or DEBT) when they grow up expecting to always have the newest and nicest things but cannot afford them.
Thank you!!! Toothpaste worked. Saved footage I needed to use for my reel!
I tell people to get it all the time, but I still haven't completed the paperwork. I have no excuse! We are moving within the next month - I'll use that as a chance to create a proper inventory and get coverage.
What many don't know about their local library is all the free programs/classes they offer. Depending upon your location, you are likely to find free computer classes, language classes, book clubs, story and activity times for children/teens, and more. Inquire at the information desk. Some libraries offer print and/or e-mailed monthly newsletters.
I started when I got my first job out of college.
I recently went to buy a couch off of Craigslist. When I arrived at the seller's apartment, I discovered that, yes, it was a beautiful black microsuede as promised...but the back had candle wax on it. Not only that, but there were a couple of spots on the cushions where the owner -- a painter -- had splattered white paint, and then painted over it with black paint! I still ended up buying the couch (it's super comfortable, and I was able to talk the price down), but man oh man, there was a lot of information about the couch's condition missing from that Craigslist post!
This is the system my parents used, and I'm far better with money and household everything than my spouse.
Typo fixed. Thanks Bill!
I started saving when I got my first job out of college. As a teacher, they withdrew money automatically. more than I would have saved!
Bill, you're right --- I know I shouldn't compare, and I work at not doing so. Comparison is definitely not the way to build a happy, independent, creative family life. And I'm realizing more and more, as I raise my kids, that I don't WANT them to fit in in most areas of our culture. I'd rather them be a little weird if that's what it takes for them to think for themselves, set their own standards, and be free to live life their way without feeling the need to please society.
That's great stuff, Lisa! And that's awesome that you and your husband have skills for finding and using those often overlooked resources and you can pass those abilities on to your son. Kids learn so much by example! I overheard 2 of mine the other day having a pretend phone conversation, bartering stuff with each other and setting up times to meet!
You're welcome!
Great lessons! I'm fine with my kids having new things, and want them to appreciate nice things, but even more than that I want them to learn how to enjoy what's in front of them, be creative, have fun, and find resources instead of depending on "buying something" to have fun/fix problems.
Great list. Another benefit of prepping veggies once a week, making meals in advance and making large quantities is the fact you don't have to clean the kitchen as many times in a week. It will also cut down on dishes washed.