When someone asks me, “What’s your biggest investment?” and most of the time, without really thinking I’ll say, “My car” or “My home.”
But get this, my biggest investment isn’t my precious car, or my nice home, it’s my kids! Now you’re probably thinking about it, and you agree too.
My kids are definitely my biggest investment. Especially compared to my car or my home. I have three kids: a 7 year old, 15 year old, and a 19 year old. And as time passes and I think about clothes, toys, accessories, family vacations, and just personal things I know that I’ve spent a lot. I can’t quite put a number in place, but I know it’s a lot.
We are always on a tight budget so, as my kids have gotten older I’ve taught them a lot about money. And how to save, and invest on certain things they desire. As well as how to work for what they want. They’re still growing and they know a few things.
For a while I would pay my kids small amounts of cash for certain chores they did. But it wouldn’t be all the time, for every chore. I don’t want them to expect money for things that they are supposed to do. Or to expect money for every little chore they do. I started using a chore chart to help me. Here you can design a chart with chores for your kid. After each chore they can earn points for it. And as their points add up they can cash in those points for prizes. You as the parent can customize the prizes to whatever you like. This site has been very successful for us. I sometimes would find my kids doing as many chores they could in one day to compete and try to see who has the most points! Haha.
By doing this I’ve taught my kids that they have to work for money. Every body has to work for money. And you have to work harder for more money. I’ve been doing this off and on as my kids have grown but since about a year ago I have been using the online chore chart to help.
I think it’s better to start teaching your kids about money at a young age. So they can develop the money earning concept as they age. But, every parent is different.
Our bills are pretty high, depending at what they are for. In my opinion showing my kids how much the bills cost can really change their perspective on what they do on a daily basis. Depending on how you brought up your kids, they could help save you money by using less, or they could just think that you’ll take care of it with no problem. I don’t think that kids should have that perspective of thinking that they’re parents will take care of everything (even if I will always be there for them no matter what). That kid may grow up and move out not having anyone to provide for them, but themselves, and have no idea how to do it.
Thankfully, my kids are not like this. One of them who is 7 is still learning about the whole money thing. But I won’t push it too hard on him just yet. One of them is doing rather well, she can handle certain amounts of money. And understands the concept of working for money and working harder for money quite well. And the last one, is spending money like a normal teen. When he gets money he’ll blow it on things he wants.
Raising kids are everyone’s biggest investment, whether you have a very expensive house or car. That money is something you pay up front. The money for raising a child is spread out over many years. You can’t really make a financial plan for a kid. Because you never truly know what exactly that money is going to be spent on.
Disclosure I received compinsation for writing this post. Regardless, I only recommend products or services I personally believe will be good for my readers.
Your Families Biggest Investment Is Not Your Home Or Car
April 21, 2013 by · Leave a Comment