Lessons In Frugality
This is a guest post from Sherri at Serene Journey, where she shares tips, tricks and philosophies on enjoying life a whole lot more.
When kids move away from home it can be bitter sweet. There are no more family breakfasts around the dining room table and no more fighting for the shower first thing in the morning (at least I’m sure that’s what my folks would tell you). Yet you are excited for them to get out there and experience life, see the world and grow into their own person. There are several things I want to teach my kids before they leave home and one of the most important lessons is on frugality.
I have made the transition from relatively spend happy to quite frugal over the past several years. I only wish I had adopted my frugal way years ago! Here are some key lessons I’ve learned, or aha moments if you like, when it comes to frugality, timeless lessons that every kid should be aware of.
1. There is a difference between want and need. It seems pretty obvious that things we want aren’t necessarily things we need but the lines can blur and the distinction is sometimes fuzzy. Food, clothing, and shelter are all necessities – you actually do need these things. However, spending money on steak and lobster every night, haute-couture clothing and a 10,000 square foot house are self-indulgent wants.
Experiment with your child. The next time they “NEEEEEED” something start a dialogue – ask them questions about why they need it so bad, talk through different scenarios and worst possible outcomes if they don’t get the item. Try looking for alternatives to purchasing the item i.e. can you rent it, borrow it from the library or use a friends? Sometimes the alternatives aren’t immediately obvious but they often cost a lot less.
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This is a guest post from Jeff Nickles at 
