Observation #8 Shut that Kid Up, Just Buy Them the Toy!

I want this! I want that! No. Cue the waterworks. A possible tantrum in Aisle 4. It has been my mission in life to avoid being that guy that everyone is staring at as they drag their kid kicking and screaming out of a department store. You can’t help but stare. You inevitably think the person is a bad parent. You know their kid made some crazy demand and didn’t get their way.

My strategy has always been to be a few steps ahead. I tell my kids what our mission is and if we are successful then they can get something. I try to decide on what that is before we get there. It has worked so far. I have avoided the eyes burning holes into my bad parenting ass. Constantly bribing my kids to avoid public humiliation may not be the best solution. What am I teaching them?

The value of the dollar. Not to generalize but...The further we are from the boat, the less we value the mighty dollar. When people immigrate to a new country in search of opportunity and a better life, the goal of the first generation is to make good on that promise. With each successive generation, that drive to be successful is weakened. This is not always the case but the value of the dollar doesn’t mean as much when you know that someone will bail you out and/or get you what you want. Imagine being part of the first generation not to be as successful as the previous. Sad. Too far away from the boat.

How do you get your kids to value the dollar? My girls are 5 and 4. I can’t send them out into the hot sun to dig ditches but I don’t want to create spoiled brats either. Not sure if this will work but here is my plan:

1) Create a chore chart. Simple tasks. If they complete all five for the week, they will get an allowance of $5. Jeesh, that’s not very much. They might as well be making iPhones overseas. It’s not the amount, it’s the principle.

2) Set up three piggy banks for each girl. We have done this already but it has fallen by the wayside. Gotta stay consistent. One bank is labelled Spending. One is called Savings. The last is called Charity.

3) The girls receive five loonies or one dollar bills. They have to put at least one in each bank. The remaining two dollars can go in any bank they want. Once the Savings gets to $20, they can spend it.

It’s not a foolproof plan but I guess I am trying to teach them some financial literacy. I am trying to avoid buying them stuff every time we go out. If they want to bring some cash from their banks, no prob. It doesn’t hurt that Grandma and Grandpa slip money in their Spending bank when they come over. If all else fails they had fun decorating their banks with pictures of fairies and mermaids.