Saturday, July 7, 2012

Teaching financial responsibility?

Parenting always comes with so many questions.  So many "how do I" concerns, and often the answers are determined by the parents' past experiences and own upbringing.  Money issues-have been on my mind.  In the past we encouraged our kids to put some of their $ into a savings account, but there was no set rule as to how often or how much.  Then, they were usually getting birthday and Christmas money from Grandparents.   When Andrew worked delivering newspapers in Buffalo- he saved up a lot of his money to buy some of those things we wouldn't or couldn't buy for him.  Now, it is just a year before he will be heading off for college- and he is working a summer job.  So we have asked him to put 20% of his pay as a minimum into the bank- to be used for college, or a future car or something bigger than the newest video game.  He has done this willingly, and sometimes puts more into the bank.  The hard part for me is letting that be good enough.  Sometimes he will spend a large portion of his left over money right away, or buy things that I don't think merit the expense.  I am struggling with letting it be, and being happy for him to have the ability to buy what he wants.  So much of this has to do with my upbringing, but also my current responsbility and abililty to see the need to spend wisely- so I want him to make wise choices--- HOWEVER, on the other hand I want him to relax, have fun, and enjoy the fruits of his labor in a positive way.  When I was in college, I was so concerned about money that I never did anything fun.  The little bit of money I made mostly went into the bank or paid for needed neccesities.  Then ( unlike now), if we didn't eat in the main dining hall, you had to pay $.  So, I never hung out at the pizza joint, and did anything extra- I remember one time going out with people.  And I really regret that I didn't do more of that now.  So when is financial responsibility just too much.  I still struggle with this today.  Just recently I bought  a few new clothes ( yes, just a few 2 pairs of capris and a shirt), I had no capris any more, and only one pair of shorts that is many years old.  Financially it probably wasn't the best choice for our budget at the time- but I have to say how much better I have felt to have a few new items to wear.  We ran into Richard's boss the other day while we were out- and it really made me feel so much better to have a decent outfit on- ( even then a shirt I was wearing was from the thrift store!)

Well, there's my rant.  I want to be financially responsible, but at the same time have a few things for myself. Is that so bad- and what happens when the two can't happen simutaneously?

And so it goes...