I may be a grown-up, but I still haven’t gotten over the fact that there is no magic money tree. I bought a nice pair of dress pants for church… and it is never fun to enter those purchases into Quicken and deduct the money out of the budget, even when I have funds saved for such purchases.
My daughter is now learning about this hard reality as she transitions into allowances and chores. “Teachable moments” are cropping up left and right!
“Can I have money for the Scholastic book fair?”
“No, you haven’t read the last book I bought but you are welcome to use your own money.”
“But I am saving my money for something else!”
She went on to wonder what would happen if she were the ONLY one in the class with no money for the book fair. I said she would have to tell her friends she is saving her money for something else. This conversation, for me, echoed many of the financial decisions my husband and I are making every day. Why do we only have 1 bathroom… because we are saving for something else. Why does my husband drive an ‘entry-level’ car… because we are saving for something else. Freedom from debt is a wonderful situation, but it is still a life filled with many purposeful decisions about money.
Oh, and the book from the book fair that she reeeaaaally wanted? The library has a copy waiting for us on reserve.