Well, you know what they say “it pays to save”. Yesterday we opened the kids savings accounts. They all received a gift of money for Christmas and have been saving change. So, I offered them a deal. You know me and deals. Well maybe you don’t know me and deals, but I love a little incentive to do something I wouldn’t push myself to do otherwise. Remember, I ran a half marathon just for the goal to keep working out even when I did not want to. (Little tip, it works…for me at least.)
Did anyone else read the report on children who were trained to save early? It was fascinating. Money management and saving is actually a skill that can be learned and learned early. So I am attempting to impart that to our dear young ones. They were sitting at the dinning room table thinking of all the stuff they would buy with their loot. Well, there is not a thing in the world they really need in the way of toys right now, so I threw down a gauntlet. I said, “You can buy whatever you want, or I will pay you $10 right now to save it and put it in the bank”. They all slowly sat for a moment thinking about it. They did the math and added up how much that really meant, and then like dominoes, they all went for it.
With great ceremony we went to the bank. I took pictures. All the tellers oooed and ahhhhhd and told them how smart they were. Then I handed them their ten smackers as they deposited their loot, and counted their coins out loud to the lady. They even signed their names on official paper work….4 times. They were so proud.
My next real world math plan is to give them 5 bucks in various types of bills and coinage. Give them a list of 3 things they need to find, for something we need to create or build, then take them to our local good will and let them shop and buy for real with real money. I just need to think of something we can make together, that we can buy items to work with. Any ideas?
Well the day is too pretty to be wasted, we are off the beach to collect some shells. See you tomorrow.
Peace to all savers today!
Well, for many reasons, Mike and I are tightening the belt, and being creative with the resources God blesses us with. I am a big advocate of using what you have, buying used and not getting something because it is the newest or just because you want it. God is steadily delivering us, form poor financial choices within our control and hard circumstances outside of our control. Now we want to be faithful to both save and be generous to those who need it. We are coming into a new season on many fronts, but one of the ear marks of this time, will be how we learn to save and control our spending.
So, I am cleaning out and organizing our closets (again) and getting ready for school this week. Some how or another, I always find something I can list on eBay. So this week I am listing 4 or 5 things and also going through clothes. Not to donate but to scavenge from. I grabbed these bottons from an unused shirt and will turn the body of the shirt into interfacing for something else I am making.
I enjoy sewing and hate going to the fabric store with the kids, so I have given myself a new challenge. What can I make that is new from something I already have lying around. So I am creating “out of thin air” and excited. Look at how this women turned her old t-shirts into cute baby clothes. I need a wallet as I don’t have one, so I am going to make this one.
Pray for me!
Buy LESS…..save MORE…give GENEROUSLY!
I know it is earth shattering but yet highly effective!
I think most American families need help in the finances department, and this book could be a good first start. No offense to my International readers. I am sure International families can look at their budget as well. This book attacks the normal American pastime of “excess” and offers tips that relate to living within the US. I am sure that international families can apply many of the concepts regardless of their context. It is an easy read and not necessarily meant to be read straight through but rather viewed topically depending on what you need most. It will help you think through your financial plan and give you solid tips and really great ideas on how to save money around your home. It is an inspiring read that preaches simplicity and motivates you to make your pennies stretch and learn how to live with less. I found it interesting that many of the ideas, we already implement and many others we have never even thought of.
The books authors (the Economides) actually paid their entire house off in 9 years making only about 35K a year. They started by just paying $2 extra on principle every month and pinching pennies all along the way. Annette (the wife) stayed home the entire time raising their kids, learning how to be an efficient homemaker and making “simplicity” be her overarching goal for their family.
This book is proof that it can be done if you are willing to sacrifice a bit, live within your means, and most of all have discipline with your budget. I was inspired!