5 Reasons You SHOULD Talk to Your Kids About YOUR Finances

Today, I had to tell Drama Queen that he wasn't able to go to camp today. Not because of a bad attitude, or I didn't want to take him. I had to tell him not today because I don't have any money to put gas in the truck and get him to camp just to have to drive out there again and pick him up. It ended up being a whole conversation of his begging me and being in a tailwind state over the fact that he wasn't going to get to do something that he wanted to. I didn't tell him no completely, just not today because everyone is sick. This upset led me to thinking about finances, and how it is important for everyone to be on the same page when it comes to money that comes into the house. Including your children. Here are 5 reasons that you should talk to your kids about your finances.

1. Allowances-

While some people give their children allowances, for others, it's just not feasible. In our house, we don't give allowances because everyone that lives in my house is part of the family. Everyone has to do their share in keeping our space clean and helping around the house. I don't feel that my children should be making money for doing something that they should be doing anyway. 

2. Savings-

It's not an uncommon thing for a child to think that we are made of money, so they think they should be able to do whatever they want. They see us go to the grocery store and use our debit cards, feed a meter with change, use cash to purchase from the Girl Scouts out in the front of the store. Of course this makes us seem like we have plenty of money, but we're broke. Some of us have more bills than money, other of us rely on our overdraft protection to make sure that our children will eat. Most of us can't afford a decent savings, but we try. Knowing your finances and learning to save are important pieces of adulthood. What little extra we manage to scrounge up,  we try to save for a fun rainy day activity, or for our emergency fund, which, sadly is having it's own emergency.

3. Avoid Disappointment and Entitlement-

Let me tell you, taking my kids to the store is a friggin NIGHTMARE. They ask for everything, I tell them no. They ask again, but this time for more. To avoid disappointment or a feeling of entitlement that many children have, tell them no. No will become your favorite, most used word. While your child may still be a bit upset over not getting a new toy or a special treat, knowing the expectations going into the store will help alleviate some of the "can I have," and the whining. 

4. Preferred Activities-

This is the one that always gets me. We've been planning a trip to Disneyland soon. My kids have never been to Disneyland, therefore they will lose their minds when we finally make it there. However, the more money doled out for shoes, clothes, snacks, toys, and other expensive activities they want to do, the longer it's going to take to make it happen. 

5. Money Management-

How are kids supposed to learn about money, making smart decisions, and bills, if their parents never talk to them about money? When I graduated from high school, I had no idea how to be an adult, but there I was, expected to know it. Here's the thing, There were no classes that taught money management, or basic adulting 101. Kids are often just shoved into the world to figure it out themselves, and now, most are entering the professional world with mountains of debt, the kind of debt that a good job is only going to put a dent in. 

If parents don't talk to their children about money, managing a budget, how to save, write a check, or even the simplest thing-- comparison shop, you're setting them up for failure. And potentially ensuring that they live in their childhood bedroom for the rest of your life. 

I know that discussing money with your children is hard. What's harder is to constantly have to tell the kids that it's not in the budget, there is no money for that, or many other money related things that aren't pleasant. Like politics and religion, the less we talk about it, the worse the problem becomes. Overspending is a serious issue for many, including our president, Annoying Orange, whose currently set to borrow over $1 TRILLION dollars this fiscal year, the most money ever spent in a single year during a presidency. Don't let the kids turn into the next generation of Trumps. Teach them financial responsibility by starting at home. Perhaps help them make their own budget, or allow them to help with some of the planning. 

Frugal or Cheap-- Which are You?

I will be the very first person to admit being frugal, boarding cheap. I have three boys. Three boys that can go through a $100 in fruit, milk, cereal, hot dogs, cheese, and juice. They are growing boys, but, I myself am on a fixed income, therefore, I have little money to spend on frivolous things I want. I am one cheap mother in the sense that I try to spend as little money as possible, because there just isn't much to go around as it is. There really is a huge difference in being cheap and being frugal though, most don't understand that and are actually cheap, like a large portion of the wealthy. One of the biggest differences in being cheap over being frugal, is that cheap people will often go to any lengths necessary to pay as little as possible, or nothing at all. Being cheap, in the long run, can actually hurt you more than it will help. Here are a few examples of whether you're watching out for your money, or just being a tightwad.

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1. You're cheap if you go to an all-you-can-eat restaurant and share plates with the family instead of letting everyone have their own. Your frugal if you go to a restaurant only on nights that kids eat free.

2. Your cheap, and probably a d-bag if you go to the food bank to pick up a box of food for your family instead of spending $20 to get you through until payday. You're frugal if you go to the dollar store to pick up some staples for your family until payday. Most dollar stores have an impressive food selection, and guess what guys?! It comes from the same stores you regularly shop at, it was simply their excess.

3. You're cheap if you buy all the expired food from the grocery store, risking yours and your family's health. You're frugal if you clip coupons and only buy what's on sale to save some money. Seriously guys, it's pretty douchey to risk everyone's health for some cheap grub.

4. You're cheap (and committing a felony, I might add) if you enroll in a welfare program to get free daycare and have no intentions of getting a job or going to school. You're frugal if you participate in daycare exchanges and/ or work from home to help cut daycare costs. Daycare is a crippler y'all! If you can work around your partner's schedule, or only during school hours, you're gonna save yourself a lot of money, stress, and grief. 

5. You're cheap if you sneak into the movie theater. You're frugal if you go to the theater on Tightwad Tuesdays where they give a discount to see whatever's in the theater. There are also a lot of smaller theaters that will play movies right before they hit DVD. It's a great way to have your choice of seat and a quiet theater!

6. You're cheap if you steal your neighbors cable. I mean, seriously guys, come on now. Are you really willing to do jail time over Game of Thrones?  We already know there's a lot of incest in the damn show! You're frugal if you set yourself up with Netflix and Hulu. Don't worry, I'll have a whole thing soon on the wonderfulness of Hulu. 

7. You're cheap if you try, and epicly fail, to make something yourself after undercutting the handmade artist that quoted you a price that was likely way lower than what you would pay any other designer for an item. You're frugal if you work with a designer within a set budget To get something you're pleased with. Seriously, in the long run this is always your best bet because you're not wasting money twice. 

8. You're Cheap if you don't change diapers often because you want to make them last as long as possible. I get it mamas. I do. Diapers are EXPENSIVE. But is risking your baby's health over more diaper changes worth that? You're frugal if you write to manufactures and receive coupons, buy the cheaper diapers, or hit offer up for those that other's can't wear anymore. You're really frugal if you can handle the whole cloth diapering thing. I can't stand the smell, and I'm not that kind of crunchy mama 

If you find yourself saying 'yes, that's me' to most of the first over the later, you, my friend, are cheap. This is not necessarily a good or bad thing. However, you may want to consider taking a look at why spending less or nothing more important to you. It is often off-putting to others when you are being an ass in an attempt to get what you want for as little as possible.  I really hope these examples are helpful in spotting the difference. 

After asking Mr. Handsome Face (my super wonderful boyfriend whom you will no-doubt hear about often) and a group chat with his gamer friends, it was determined that the only one that knew the difference was their female friend. Is this something lost on guys? Or are we just all being assholes to get what we want for nothing? What's your favorite cheap vs. frugal example?