Movers Wanted

What jobs have you had family or friends help with?

Moving, particularly when I was younger, involved soliciting the help of family and friends. I never liked asking, but always appreciated the help.

My sons aunt and uncle were in need of help moving from a rental back to their home. They were in a pinch and asked for my sons help a few days before they needed it. Both boys said “of course,” as they love their aunt, uncle, and cousins and wanted to be off assistance. When they found out they would also get some money for doing it they were beyond thrilled.

After they helped them move, my husband and I asked them how it went. “It was nice,” my youngest shared, “it was nice just spending time with them alone. We had fun.” We realized our kids hadn’t spent much alone time with their aunt and uncle, we (my husband or I) always seemed to be around at the same time. I was happy that had this experience and shared memory with other family members. My oldest piped in, “Yea, they said that might want our help again in another week.” He was excited by the prospect.

Helping others can be so fulfilling. Helping others and getting paid, especially if you’re young and want/need to make money — near utopia (at least for my kids). 😊

How do you model family and friends helping in times of need? How does your child view helping others?

Can We Talk About It?

When your child asks you for something (they need, want, etc.) what do you do?

When my boys need something (school supplies, clothes) it’s pretty easy. For non-essentials, I typically weigh the pros and cons, we discuss as a family if pricey (can we afford, is this a good use of our money—often turns into financial discussions/teaching moments with kids, etc.), and then we decide.

My oldest found a sports camp he wants to go to. It’s a single-day camp and pricey (not crazy pricey, but enough to make you at least weigh the pros and the cons). I knew how much he wants to go to the camp. My husband and I discussed the cost and agreed we’d let him go. By the time my husband and I connected on this we were full into our workdays and my son school, so I decided to text him to share the good news , he could go to camp but with some conditions. “Your father and I discussed and you can go to the camp. In return I’ll take a daily hug, you need to make sure all the dishes are done before you go to bed, and lessen the sass towards mom.” I said all of this ending with a smiley face 😊 to let my son know I was serious, but also that it was coming from a place of love.

I expected his response to be “great” or “thanks,” instead he responded with the following in rapid fire: are you sure? I can pay for it? Can we talk about this before you sign me up? Was my son ‘adulting’ on me? I texted him back, “We can cover — is hugging me really that bad? 😊 We’ll discuss tonight before we register you.” He responded “Thanks.” It seemed like he was being very pragmatic and he got me thinking. Does he not want to go? Is there something about the camp that worries him? What’s prompting this desire to part with money? My son rarely spends money, he’s always saving it which made me think am I missing an opportunity for my son to feel good about spending his hard earn money in a way that feels good to him?

That night we talked about it. My husband and I explained that we would cover the cost for this camp, but other specialty camps he might want to do over the summer he could cover. My son was excited, and we felt like we’d found a happy medium. Reflecting on the situation I realize my son is getting closer to adulthood daily and I need to start leaning into that more (vs holding onto the vision of him being young and more dependent). It may be uncomfortable for me, but the more I practice it the easier it will become.

How are you helping your child make money choices? How are you helping them prepare to be independent?

Easy Come Easy Go

When was the last time your child did something that surprised you?

This last happened to me a few days after Christmas. My oldest has been asking for an iPad for a while. We have never invested in a gaming system for our kids, and my son likes to use my iPad (which is very old) to play Madden. My iPad is so old, it no longer can support any of the latest versions of Madden so, as far as my son is concerned, it’s useless. 😊 My husband and my response is always the same when our son tells us he wants this, “Do you understand how expensive iPads are?” Communicating that we understand he wants it, but it’s not going to happen. We said if he wanted an iPad so badly, he should ask for money from his grandparents, and other family for Christmas.

I was in need of a new smartphone earlier in the year after the screen on my previous phone shattered. When buying the phone they had a buy one get one free offer so I decided to pick up an iPhone for my son. My husband and I had been talking about upgrading him from his flip phone to an iPhone but still had concerns over him having such a device (particularly with all the content that’s available). Thank goodness for parental controls. Being able to restrict his usage as night, limiting what sites he can access made us feel more comfortable giving it to him as his Christmas gift. It was one of the few times I’ve seen my son get a gift and be almost overwhelmed with gratitude.

A few days after the holidays my son came to me and said, “Mom, you know that money I was saving for the iPad? Well, I no longer need it since I have my iPhone. I want to give it to #TeamTrees.” My son learned of this organization (teamtrees.org) while watching YouTube. They were getting a lot of press and buy-in from other YouTube and non-YouTube celebrities helping them achieve their goal of planting 20 million trees. My son was caught up in the hype and wanted to contribute his savings that day. While I loved that my son wanted to donate his money I wanted to make sure he was really thinking through where his money was going, and taking the steps to educate himself on the cause, charity, and feeling good about where his money went (e.g., what about the cause speaks to, or resonates with you?). My husband and I asked him to do some research, sleep on it and we could figure it out in the following days. Once we learned #TeamTrees had exceeded their goal, my son was more willing to look into other charities. We had him look up charity ratings, and after doing some research he decided to donate his savings to the ArborDay Foundation. I was proud and surprised at how easily my son was letting go of the money he’d been saving up for almost a year. He could have easily bought something for himself, but felt compelled (maybe influenced by the YouTube community?) to give his money away.

I’ll take this kind of surprise from one of my children any day.

When was the last time your child surprised you in a good way?

Giving til it Hurts

Which do you prefer during the holiday season — giving or receiving?

I have a heightened sense of my spending during the holiday season. Toys for the kids, gifts for friends and family. It can all add up quickly. Add on charities and the desire to help others, and it becomes the time of year money seems to leave my pocket too easily. I love the joy the gifts bring to my loved ones, and how donations can help others, but do not necessarily look forward to the pending credit card statement that follows.

My oldest son decided he wanted to get a gift, with his own money, for his younger brother. He accompanied me to the mall so he could get some ideas. My youngest son is into geography and when we came across a map store we knew we wouldn’t leave the mall empty-handed. The store was filled with amazing gifts — maps of every country, globes, travel books, pictures, and more. It was a bit overwhelming. He decided to get his brother a map of Australia. My youngest has always shown an interest in visiting there. The map cost $25. There was a cheaper version of the same map, but the one he had chosen was lamented and would last for much longer. He took the map up to the counter, looked at me and said, “Am I really paying for this?” To which I responded, “Yes.” You could see his inner turmoil — wanting to get his brother something he would love, but struggling with parting with his money. He took a deep breath, pulled out his money and handed it over to the cashier. As we walked out of the store he leaned over and said, “That hurt.” “What hurt?,” I asked. “Spending that much money,” he replied. I understood what he meant, sometimes, even when we want to be generous, it can make us feel uncomfortable — especially when you’ve worked hard for the money and saved it over a long period of time as he had. We walked out of the store, and my son immediately headed to a sports store. He found a cap he wanted, went to the cashier without even looking at the price of the cap and had them ring him up. This time the total came up closer to $40. $40 for a cap? I thought. I would think twice before dropping that much money on a hat…it seems like a rip-off. Yet, my son was perfectly happy to part with that much money for it. I couldn’t help but contrast the two situations — one was about being selfless and giving, the other was about self satisfaction. One caused him angst and one didn’t phase him. Interesting.

When I was a child, I really liked getting gifts at Christmas. I didn’t learn about the joy of giving until I was a teen and finally had enough money to spend on others. I can remember saving up my money to buy my sister a leather jacket. It was expensive — way more than I could really afford (and wouldn’t have been able to without the concept of lay-away), but there was something that really drove me to get it for her: 1) I really wanted to see the surprise and joy on her face, and 2) prove to myself that I could buy gifts like this for someone else — and a thrill in my fiscal abilities. Wow, I was just able to figure out how to finance a nice present without going into debt. It felt great! I wondered what drove my son to part with his money. As an observer, it felt more like something he wanted to do, but he didn’t like the feeling of spending his hard earned money. Giving shouldn’t hurt, or give you pause or cause you angst. I do hope one day he’ll experience the joy in giving — and that parting with your money can actually feel good through and through.

Happy Holidays! I will be off for the next few weeks to spend time with family and friends and will be back in January.

Modern Day Lemonade Stand

Did you have a lemonade stand growing up? Has your child? What memories do you have of making money when you were growing up?

A friend recently shared that their children had a lemonade stand and served cookies to neighbors who were heading out to watch the fireworks on the Fourth of July. They had had mild success in years past, and were rethinking what they might sell. It has been hotter than normal temps, and they were inspired. In addition to the lemonade and cookies they decided to make and sell water balloons. The water balloons ended up being a big money maker for them (when I heard about this I had two reactions: 1) what a great idea, how fun!, and 2) yikes! I hope no one got an unexpected water balloon thrown at them). It was fun to hear about how entrepreneurial the kids had gotten, and how excited they were by their financial success.

My son recently found yet another Lego set he ‘has to’ have. It’s clearly a discontinued model, because so far we’ve only found it on eBay and Amazon and the price has been upwards of $450 (I know, for a Lego set???).  Anyhow, my husband and I are working to teach our kids the value of a dollar and the reward of hard work. Our son knows he can only get the set if he has the money, and based on his allowance, he’d have enough money for the set in a couple of years (and only if he never spent a dime of his allowance and saved birthday and Christmas money), and clearly wants to do whatever he can to accelerate the timeline. He’s too young to mow lawns or get a job, and a lemonade stand (even with water balloons) isn’t practical in the part of town we live in, so it’s been a bit of a struggle to come up with ways he can earn some extra cash. My husband though had a great idea. We have a fruit tree that, based on the weather, can produce a significant number of small plums. So many, in fact, that some years if we don’t stay on top of picking them up the plums daily our yard can easily turn into an ooey-gooey (not to mention rotten fruit-smelling, bug-attracting) mess (yuck!). My husband made my son an offer, “We’ll pay you one cent for each plum you pick up.” My son jumped at the idea. He grabbed his shoes and headed out the door.

The tree is providing quite a yield this year and I wouldn’t be surprised if my son makes upwards of $10-20 (yes, there are that many plums) when all is said and done. I told my son one night after he picked up the plums, “I guess it’s true what they say–money does (or can) grow on trees.” We couldn’t help but laugh. My son won’t make enough money from picking up the plums to buy the Lego set, but he is learning what it takes to earn money–you have to work hard, and often for a long time, to get to what you want. He’s learning this lesson one plum at a time.

How are you teaching your child about money (earning, saving, donating or spending it)? What creative alternatives to a lemonade stand have your and your child come up with to make money?

I’ll be taking some vacation time and will return in August.

Family Fun?

It is important to my husband and I that we teach our children how to manage their money. They are recently taken on more chores and are given a modest weekly allowance, which we encourage them to save, share or spend. So far, their desire to save has been modest, share has been virtually non-existent and spend has been high. My husband and I are big on saving and sharing, so it’s a bit frustrating that our kids don’t share our same financial mindset presently. I had to reflect on my own childhood. I too had chores and earned a modest weekly allowance. I was encouraged to save or share, nor was I encouraged to spend. I remember really not wanting to part with my money (e.g. give it away), and honestly can’t remember ever spending my money until I was in high school and things like clothes became more important to me (and required money I earned to get).

My boys have recently found a new place they love to go. It is geared towards families and offers putt-putt golf, cars you can race, rides you can go on, and games you can play. We enjoy talking the kids here to play putt-putt and spend some quality time together. What my kids currently like best is playing the games.

I can understand the draw, you play a game you win tickets which you can trade in for prizes. The downside, it costs money to get tokens to play the games, the games don’t normally produce a high volume of tickets, and the prizes, well, aren’t so great (or the great ones require a tremendous amount of tickets). You quickly realize that it is easy to pay $20 for tokens and only earn enough tickets to get $5-10 worth of merchandise in return. “Isn’t this gambling?” my husband asked. Boy, he makes a good point, I thought. Playing these games is equivalent to taking a chance with your money — you will almost never win out (e.g. hit enough jackpot payouts to earn enough tickets to get those big prizes).  We decided that instead of offering to just buy the tokens, our kids needed to chip in as well (hoping this would deter them). It hasn’t worked yet. They are willing to give up their hard earned money to play these games. Ugh!

My husband has been recently doing some construction projects in our backyard. He asked our boys to help him with his projects. They asked if they could earn extra money from helping out. We said, “No.” We expect our boys to help out around the house because we’re a family and we all have a part in keeping our house up and in order. Instead, my husband offered to participate in a water gun fight with them, after they finished helping him. They quickly agreed.

I know our sons will want to go to places that have games they can play (with prizes to win), and we’ll go occasionally, and continue to work on teaching financial responsibility to our boys. We’ll also be looking to load the calendar with opportunities for more water gun fights.

How are you teaching your child fiscal responsibility? How do you have fun as a family?