Just Write A Check

When I was a child I remember there was a time when I was shopping with my mom, we got up to the checkout and my mom looked in her handbag and said “oh I don’t have enough money, I will just write a check.”

Soon after that during another time when we were shopping I remember asking my mom if I could get something, I don’t remember what it was but as a child I am sure it was a toy of some sort. My mom replied “no I don’t have the money for that.” Even now as an adult I clearly remember what my reply to her was, I said “well then just write a check.”

Children are sponges, they pick up on the actions, words and habits of everything around them especially parents. This is why in my coaching I mention that your spending habits will trickle down to your children and when they become adults they will use what they have heard and seen from their parents over the last 18 or so years. I think we can all agree as a parent you want your children to have a better life than you had. Wouldn’t this be true in how they handle money has well?

Kids now days are surrounded in an instant gratification environment, attention spans are much shorter now than even when I was a child. In the 70’s maybe even into the 80’s I remember TV commercials were anywhere from 45 seconds to a minute long. Now they are 10-15 seconds long. Why? Well there are a couple of reasons. Broadcasters realized they can sell more advertising with shorter commercials. but most importantly advertisers realize that the consumers attention span has decreased.

We are in an information age. There are things flying at our kids in all directions, bill boards, bumper stickers, radio, TV, Twitter, Facebook the internet. Do you know that the average 2 year old can recognize the McDonalds golden arches, why do you think that is? Smart advertising.

Advertisers is after one thing, your money with the plan of getting the money of your kids when they become adults. As a parent do you want your children to be struggling with debt in the same way you are struggling? Since you are still reading this I would say the answer is “no.” You don’t want your kids to struggle with debt or deal with creditors.

Start teaching them now, today how to handle money, teach them by example, that is the best way. Please don’t use the “do as I say not as I do method.” The best time to start teaching your kids about money is around age three. Seems young but again I reflect on my own personal story. Now I have to admit I don’t remember my exact age, but I was under five when my Mom gave me a little bank that was in the shape of a church. She explained to me the concept of paying tithe. That I should return 10% of my money back to God. She showed me the example of giving me 10 pennies and that 10% of those 10 pennies was one penny, and that one penny went into the church bank it was a wonderful illustration of tithing by using the little church bank.

Yes, that small lesson was a huge imprint on my growing mind and to this day, I still have that little church bank and still pay a faithful tithe although it doesn’t fit into that little bank anymore.

What I am trying to say is that as you learn how to manage your money, one of the best gifts you can give to your kids is educating them on how to manage money. I realize it may be hard as Mom & Dad to teach your kids when you are struggling yourselves with money, not to fear. There are wonderful resources to help teach your kids about money such as Financial Wisdom Coloring book for younger kids and Money Management 101 for older kids.

Whatever resource you use to teach your kids how to manage money, it will be the best lesson you ever teach them and the one gift that is priceless.