Teachable Moments

iVillage Member
Registered: 08-04-2008
Teachable Moments
4
Sat, 09-19-2009 - 2:47pm

I took $440 out of the bank money maching




iVillage Member
Registered: 01-25-2009
Sat, 09-19-2009 - 3:05pm

My parents were very generous that they paid for my bachelor's degree. I had to put together a budget for the first year and gave it to my father. I remember getting ONE check from him for an entire year's tuition, books, supplies, dorm room, and food. The first term went fine, the second term I went skiing once too often, and ended up eating peanut butter sandwiches and ramen noodles for two months.

So at the age of 17 (I did not finish high school before starting college) I learned how to put together a budget and stick to it. The second year, at age 18, I realized it is always a good idea to add a 5 to 10% contingency to the base budget! ;-)




Edited 9/19/2009 5:04 pm ET by marie_1229
Community Leader
Registered: 07-26-1999
Mon, 09-21-2009 - 12:12pm

I know I do little things with ODD, but I need to do better.

Photobucket
iVillage Member
Registered: 11-14-2008
Mon, 09-21-2009 - 2:17pm

Oh I like it! That sounds very functional. The only thing I would add here is for her to know you still have money in your bank account for auto with drawls like the all important mortgage or whatever the case it.

It still never ceases to amaze me that people come into the store with what it looks like their entire pay cheq in their wallets. And I know for a fact they are not 18 and they still think it is all theirs to spend without taking care of bills first.

Yes it our job to teach them. I think your way is great. I also think it is great your kids get allowances for chores, and need to make it last. I bet they know about gas and clothing prices.

I took the four of ( 2 sons and 1 bf and myself) for chinese food a couple of months ago on a Friday night. My oldest son said ok that was great, what are we doing for the rest of the weekend. I said I don't know, maybe watch some tv, go for a walk, do some gardening. He said can't we go to a movie? or go out for dinner again? I said no way. I budgeted $50 for the weekend and we just spent it. He was shocked at how much it cost. And said "Do you see why we only do this a couple of times of year? Sure it was good and we enjoyed it but think of all the things we could do or buy that last for $50??" and he said yeah, I see what ya mean mom! Its the little teachings that fit in and hit home the most.


iVillage Member
Registered: 03-26-2003
Mon, 09-21-2009 - 5:06pm

Fantastic!