Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Parent Support Forums
General Parenting
Suggestions for Eeyore???
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="keista" data-source="post: 453106" data-attributes="member: 11965"><p>Ah, yeah, I dealt with a similar situation with son last Christmas. Instead of waiting until ALL his money came in, he insisted on buying pieces for his computer piece by piece. AFTER it was all done, he realized - ON HIS OWN - that if he had waited, he could have gotten intel stuff instead of AMD. IOW a better system. He's learned and is being less impulsive with his purchases now. Doesn't sound like that epiphany will happen for your Eeyore, but you can still try to steer him. He just may need MORE repetition on the lessons.</p><p></p><p>Really the ONLY way to tech this is by natural consequences. If he runs out of money for the other stuff, he just can't go or can't have it. PAINFUL to watch and teach from a parent's perspective, but as far as I know it is really the only way to teach ANYONE financial responsibility.</p><p></p><p>Short of that, if he's open to it, you can create "mandatory" savings. My son is so in tune now that I no longer have to remind him to put away his 10% - that's for something like a car or college. For your situation you can force a 10% for long term savings, and then split the rest 50-50 for immediate and medium term stuff. You also have to do it in a very visual manner. Jars are good because once he's deposited the 10% and the medium term money, you can put it out of his sight. The immediate is his to spend as he pleases. If he's more digital, you can set up bank accounts he can view online (that's what son has) and he can make his own transfers. One of the REALLY important things is that he has to be the one splitting up the money and placing it where it belongs. If you do it for him, it won't make the same impact and he'll feel like you are just hiding/stealing his money.</p><p></p><p>And, OH, to give the kids an incentive to put away 10% of their allowance I agreed to match whatever they put away up to the 10% (they were allowed to put away more or less). Kinda like an employer's match for 401Ks. That way they see the savings growing even faster and may be a bit more motivated.</p><p></p><p>Good Luck!</p></blockquote><p></p>
[QUOTE="keista, post: 453106, member: 11965"] Ah, yeah, I dealt with a similar situation with son last Christmas. Instead of waiting until ALL his money came in, he insisted on buying pieces for his computer piece by piece. AFTER it was all done, he realized - ON HIS OWN - that if he had waited, he could have gotten intel stuff instead of AMD. IOW a better system. He's learned and is being less impulsive with his purchases now. Doesn't sound like that epiphany will happen for your Eeyore, but you can still try to steer him. He just may need MORE repetition on the lessons. Really the ONLY way to tech this is by natural consequences. If he runs out of money for the other stuff, he just can't go or can't have it. PAINFUL to watch and teach from a parent's perspective, but as far as I know it is really the only way to teach ANYONE financial responsibility. Short of that, if he's open to it, you can create "mandatory" savings. My son is so in tune now that I no longer have to remind him to put away his 10% - that's for something like a car or college. For your situation you can force a 10% for long term savings, and then split the rest 50-50 for immediate and medium term stuff. You also have to do it in a very visual manner. Jars are good because once he's deposited the 10% and the medium term money, you can put it out of his sight. The immediate is his to spend as he pleases. If he's more digital, you can set up bank accounts he can view online (that's what son has) and he can make his own transfers. One of the REALLY important things is that he has to be the one splitting up the money and placing it where it belongs. If you do it for him, it won't make the same impact and he'll feel like you are just hiding/stealing his money. And, OH, to give the kids an incentive to put away 10% of their allowance I agreed to match whatever they put away up to the 10% (they were allowed to put away more or less). Kinda like an employer's match for 401Ks. That way they see the savings growing even faster and may be a bit more motivated. Good Luck! [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Parent Support Forums
General Parenting
Suggestions for Eeyore???
Top