As responsible adults with families, we know where our spending priorities lie. Nothing is more important to us than our kids, so cash is spent wisely on providing them with the very best opportunities for the future. You might invest money in their education, their health care, and quality food. Of course, your kids would rather have the cash for the latest toys or fashion! So how can you encourage them to dream big and make their money count?
Is it all about values or just about value? Most of us spend money to provide the type of lifestyle we want. This is about values. We enjoy clean living (sometimes we use the services of this cleaning service in London), so perhaps we spend our income on solar panels, organic food, and an electric car. For someone else, these things might seem like status symbols of the affluent. To them, these purchases are about cash value, not lifestyle values. How you see your purchases can easily seem very different to someone else.
When you’re teaching your children about the value and values of money, it’s important that you discuss intention too. In the eighties, many young people were encouraged to aspire to a life filled with designer brands, fast cars, and the latest tech. These were status symbols – nice things to buy with the good money you’ll earn if you work hard at school. These days, perhaps our priorities have changed.
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Buying a nice home is still quite high on the list of priorities. However, many of us would like a property that is also a good investment for the future. This might have a monetary value, or perhaps it is about the amenities and community on offer in that neighborhood? Have a look at property listings like the Joe Manausa Real Estate web pages to see why we might value a neighborhood or the local amenities. Can a home offer the lifestyle your kids aspire to?
Education is very important, but where should it come from? You might save for years to provide the funds for America’s top colleges. Indeed, in many companies, the school choice is essential for a top-level position. You might consider this investment to buy choice and opportunity for your child. Does it buy their long-term or even short-term happiness? Can they take the course they really want? Would experience prove more beneficial? And what have you sacrificed to squirrel every penny away for this?
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It’s difficult to get a balance that you can all agree on. Your choices are your choices, but it might be enormously beneficial to speak to your children about them. Talk about why they are your priorities, and why you’re willing to make the sacrifices you’ve made. Most importantly, discuss why you chose not to borrow money. To a child, it might be difficult to comprehend why you wouldn’t just buy something on a credit card so you can have it right away.
Impulse buys or big dreams? How can you balance the two? This is, of course, down to personal choice and financial situation. Do you discuss these things with your children?
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