Budgeting and Babies (of the Family)

When I went back to KC recently, I sat down with my college-aged cousin and talked to him about money. He was torn between using his hard-earned hourly wage to save for an apartment vs. buying whatever his heart desired. His hearts desire was vintage records. Seems frivolous to me, but I'm sure my purchases of choice seem ridiculous to a 20 year old!

I saw on his Facebook page this week that "being on a budget is killing me." He included pictures of albums hand-signed by bands he loved....pure torture for this kid!

I commented and encouraged him to stay the course. I hope to teach my own kids that through the years, though I worry about my youngest. (My cousin is the youngest in his family, too)

Jason has no concept of money and no value for his belongings. He loses his wallet weekly. He wants to spend every penny on candy and gum and bouncy balls. He didn't feel like cleaning his room, so he boxed up every toy he owns and asked me to have a garage sale...there were things in there that HE picked out recently with Target gift cards and they were discarded like yesterday's news.

I passed along Ryan's ergonomic "ball chair" to him so he could bounce and wiggle around during school...then last week, he stabbed it with a pencil and the ball popped. He said he "dropped" his pencil on the chair. With his fist wrapped around it. And the pointy part facing the ball. Stabbing it at full speed, I'll assume.

Now, I realize he is six and I definitely remember that his nickname for the first 5 years of his life was DESTRUCTO-BOY, but really kid? He now owes me his allowance every week until he's in high school.

Seriously, though, I'm seeing a theme with the babies of the family. Are we so diligent with our first-borns that by the time our youngest needs to learn the concepts of saving and delayed gratification, we're tuckered out?

And let me be clear: I truly don't believe this is a full reflection on the parents because...have you MET my husband and me? Even if you haven't, you should know what tight-wads we are. It's less obnoxious now that I'm contributing to the household income, but before I started my Tastefully Simple business, our budget was air-tight with no room for an occasional night out at Chipotle.

We have decided to indefinitely remove Jason's allowance...he truly doesn't understand the value of a dollar. Money burns a hole in his pocket, he has no value for property (his own or others') and he has no concept of delayed gratification.

I guess I'll save the financial lessons for another day with my youngest child. Because for now, Jason views cash as green paper.