Thursday, January 31, 2013

Simple Savings: Don't Spend Money On Your Kids

One way to save money is to stop spending.  I saw the link to this article on a different blog and thought it was worth posting.  It is about a woman who is going to try not to spend any money on her toddler for a year.  One thing about 2 year old children is that they don't care about name brands or where the things you give them come from.  This challenge would be much easier with small kids than with teenagers! 

2 comments:

  1. My husband LOVES to spend on his kids like every weekend. Drives me nuts but he is willing to change now b/c NOW he is completely out of money for the things he wants/needs. It's not his kids fault at all either. I really like this and that someone else pointed it out. I mean, what's Christmas for if they get presents year-round?? It's not nearly as special. I heard this was also good in savings accounts or college funds. Take care of your own first, then theirs.. if possible. If not, then they will get by on their own when they are adults.

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  2. There was an article in the past two weeks about how kids do better in college when parents don't pay for all of it. I have heard it is better to make sure that you have what you need to retire and not to put that at risk to pay for kids education. They will have a lot of years to earn money, but your own years are decreasing. Plus, you don't want to be a financial burden for them when they are older. Thanks for the comment. We all learn at different stages of our lives and many times we wish we knew better and acted more responsibly earlier in our lives!

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