Kids notice financial changes amid talks of bailout plan, bleak economy
My husband keeps saying we’re in a recession, we need to save money, we’re heading toward a depression.
I hear him. I hear the news. I see the effects of the financial crisis around me. People are worried.
Our children are aware, too. They listen to us talk, and I don’t want to scare them, but it’s good they know what’s going on … why Mommy might be a little hesitant to buy a spur-of-the-moment trinket.
Our youngest daughter, after hearing this topic discussed, selected a cheaper party favor for her birthday party. “Is this one OK, Mommy? It’s cheaper.” It kind of broke my heart, but it also made me proud that she is trying to help.
It’s not that our family has made major cutbacks yet. But we are considering our purchases more and thinking, “Do we really need this.”
I had told the girls I would shop for a new dining room table - we’ve used a card table with folding chairs for more than three years. (Some people are shocked by this, but I didn’t want to buy something frivolously) I also told the kids we would even look at some new bedroom furniture.
But this weekend I had second thoughts. … I listened to the news, the bleak picture, the bailout plan. Maybe we should wait just a little while longer to buy new furniture, I told them.
So, before I went to the grocery store, I clipped my coupons, made my list and tried to keep to the list as much as possible. I canceled a hair appointment. I cooked stew this weekend and made plans to cook more at home.
These are little things, but I’m trying to do my part. And, if my kids can learn something from it, I hope it’s a positive lesson, one about trying to make a difference in our own budget and learning that you don’t always go get something just because you want it. — Linda Lynn
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Comments
Yes. I would love for readers to share their budget-saving ideas. Maybe it’s an easy, economical recipe that will help stretch grocery dollars or maybe there are household items they reuse in different ways.
What a wonderful woman. I was blessed with a wife like that. How about making a 10% payment into savings before making payments on new furniture. I personally recommend a 10% tithe before anything else. Educting your children about life, not scaring them, is a very good thing.
Excellent point Linda. I am going to quote you in my term paper for college. Thank you for bringing back the “budget” to your family table. Most americans nowadays have never heard of the word.
Linda – this won’t necessarily help if you are delaying purchase, but here is a cost savings idea when purchasing a dining room table. I’ve heard that the cost of dining room tables is outrageous. However, the cost of conference room tables (yes, as in for a business) is much less (sometimes as little as 20% of the total cost – that’s an 80% savings!!!! Your savings soar even more when you catch sales or clearance – plus most office supply stores have rewards programs, where you’ll get “cash back” to spend at their stores, providing you MORE savings!!!), and you get more “real estate” for your dollar. They are treated to be water/strain resistant for food and drink, they come in styles as decorative or as plain as you may prefer, and they usually have matching styled chairs available (most of which are on wheels, which could be good or bad, depending on your kitchen and your family…). This was a fabulous idea from the Everyday Cheapskate. If you don’t read this FREE column, you might google it. Online newspapers in many cities carry it! Good luck to all. Also, I’m all ears for any new budget/savings ideas. Look forward to people sharing.
Linda, this is an important topic and your post was right on. Even if a family isn’t in imminent danger of economic loss, if everyone took a few steps like this, then we’d all benefit. Maybe readers could let us know some of their cost-saving tips?