If you’ve ever been stuck in a house for 10 hours on a rainy day with a two-year old, you know sometimes you have to go to extreme measures. I’m talking a totally under-budgeted trip to Toy’s R’ us type of measure. Which brings me to MSN.com’s question, “How are you wasting money on your kids?” It can be in the form of impulse purchases like mine or maybe it’s costlier expenditures like unnecessary private schools or over the top weddings. I’ll admit it, my kid didn’t need another sporting item, but it did buy us an afternoon – so how do you know when you spend and when you stop?
The experts at MSN pay homage to the balancing act of “making your kids happy” but not spoiling them rotten or draining your bank account. These smart folks tell us to skip the brand name items for cheaper off-brand buys, to NOT feel the need to keep up with the Joneses, and most importantly: say no. What good is a gift if it’s a daily thing? It’s not a gift; it’s an expectation.
Do as our users do and suggest the child save the money requested for something they really want. Or each time you feel like splurging, put those funds instead into one of your family goals. It’s a win-win!
Wishing you successful saving.
Sarah Foss, SmartyPig’s Media Mad Woman