I've been meaning to update you all week on how the 5 Day Tween Budget Challenge went in our home, and goodness I learned so much! My daughter Caroline did a great job handling her budgeted money (she was highly motivated because she knew anything she saved would be hers to keep.) Here's how she did:
- Tuesday – $2.25 at Family Dollar
- Wednesday – $49.03 at Kroger and Sam's Club (she cooked Chicken Pot Pie for dinner)
- Thursday – $0 (she made pizza for dinner)
- Friday – $15 at Panera (the kids had a babysitter while I worked during the day, and decided to go out to lunch with the sitter), Caroline cooked breakfast for dinner
- Saturday – $28 for lunch at Culver's (at her dad and brother's request)
- Total = $94.28 (which included a few splurges ~ she could have done it for less and I think would have if she hadn't had a little peer pressure from her family!) 🙂
Do you know what I learned from this experiment?
Your kids are watching you.
My kid is watching me.
I wish you could have seen my surprise when Caroline walked into my office on Thursday morning and asked for my Kroger password so that she could login and check out their e-coupons.
And every time she went anywhere she checked our Entertainment and Enjoy the City Coupon Books to see if there was a deal or two there.
And while she was making dinner, she set the table, tidied up the kitchen, and had everyone wash their hands before heading in to eat.
Just like I do.
That girl is watching me.
As our kids are getting older (and probably because of the business that I run here on PPP), we talk (a lot) about our finances. But, giving them real access to how money works is new to them, so this has been a huge eye opener for our children. Even yesterday when shopping with my 15 year old, I realized he's soaking it all in. (The thought of spending $25 on a t-shirt to him was crazy ~ he even made the comment that Goodwill is the best place to shop – ha!)
No matter where you are in your finances, your kids are not going to start out with what you have, so teaching them now how to handle their money can shape their financial future forever. I'll keep you posted on how my son does on the challenge (I'm curious to see myself), but definitely recommend handing your kids the reigns on your family's budget for a few days if they're old enough so they can learn under your guidance at home.