“Do what I say and not what I do” is something too many kids can hear when growing up. And if not in those words, then in their parents’ actions.
Speeding, swearing, not exercising and poor money habits are bad examples that parents can set without realizing it.
Some parenting “fails” teach children about money — but in bad way. Here are some parenting “fails” that parents can turn around to teach their children about money:
Bad parenting impulse buys
Some impulse purchases can be fun. An ice cream treat after a tough week at school or a movie out as a way to break up the monotony of staying home too many nights can be worthwhile motivators for kids to do better in school or at least be a fun break.
But if you can’t afford them, or spend too much on an expensive impulse buy — such as the latest technological gadget that you’ve coveted for months — then it can show a lack of restraint in how you shop.
Even small impulse buys, if made often, can show your child that it’s OK to buy something without giving it much thought and that you get what you want. But small purchases add up, and a better lesson would be to give up such purchases and put that money aside in a vacation fund for the whole family to enjoy the benefits of giving up short-term joys for long-term planning of a family vacation.
Every parent has probably had their child ask for a candy bar or something while waiting at the grocery checkout line. Telling them no can be difficult, but it beats raising a child who thinks they’re entitled to everything they see. ...continue reading