Frugal lessons to teach your kids the frugal lifestyle. In a world dominated by the internet, electronic devices and general media coverage of just how spoiled you can be with access to the right deals and technology, it’s hard to instil a frugal lifestyle in your children. They’ll always have a friend that has better stuff than they do, sure – and naturally, you want the best for them too. Nonetheless, frugal standards and a fun environment for your kids are far from mutually exclusive.
If you want your kids to reflect your own frugal outlook – saving you money in both the short and long run, and also preparing them for a life of being good with money – consider the following tips!
Frugal lessons – Pocket money saving rules
This may sound a little bit weird, but one great way to kick off a great habit for your son or daughter is to tell them that they must save a minimum of their pocket money, if that’s the arrangement you have. For example, you give them £5 a week – make them put away 50p, or £1, of that. They’ll eventually forget about it; by that point, they’ll have a real amount of money they can do what they like with!
Frugal lessons – Let them make their choices
With time comes experience of what’s worth money and what isn’t – but kids don’t necessarily learn that until it’s too late. If they choose to spend their money on poor-quality things, let them do it – they’ll learn the error of their ways. For example, they want a toy that’s worth £10, but they only get £5 a week – but there’s a knock-off one for £5. Tell them of both options – they may learn the value of saving more in the future, should it not be up to scratch!
Like-mindedness with other families is a real help
Chances are that you’ve got a network of fellow mums and dads that share your frugal values – why not leverage them to drive the point home to your kids (and theirs)? Get together for a playdate for both age groups and structure a night around cheap fun.
Have fun at all costs
Saving money is all-too-often associated with not having fun, but that simply isn’t the case. Think of all the things you may do already that can be turned into something fun (and often free): outdoor games like hide and seek, baking bread or cakes, a camping holiday or even just setting a tent up in the garden. Make the best memories without really spending anything!