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Do your kids act like money grows on trees? Try this


The Metro Life

Do your kids act as money grows on trees? Do they feel entitled? Here are some SAVAGE ideas to teach them otherwise. These ideas will help you get the point across, and are geared to be hands-on. Rick shares three savage ideas for you, Let's go!




Idea One- The Frugal Shopping Teen


You can make a smart shopper out of your teen that is driving, take your grocery budget out in cash, make a grocery list, then tell them they can keep the change as long as they get all of the items on the shopping list, remind them to shop several stores and give them the coupons out of your Sunday newspaper. Make sure you fund them enough cash to get everything plus a few extra dollars, this will keep your teen entertained for a whole Saturday. I say use cash over using a debit card because it is a tangible item they see in their hand. Set ground rules, like I tell them do not buy the cheap laundry soap that they must buy Tide even if it is cheaper but give some flexibility here, let them get the store brand canned veggies over the name brand. Do this for a month, when they call you from the grocery store asking how to check fresh veggies or meat, be prepared to send them a YouTube video in response and tell them to educate themselves. Not only are you teaching them how to shop frugally but they are also going to learn how to shop for quality. Once again, make your standards known. Stand your ground too, if you are a soda drinker, and you said only Dr. Pepper and you see them bringing in Dr. Thunder after you put the groceries away, ask them for the receipt and tell them to take the unwanted item back and exchange it for the correct one, they will have to pay the difference. This action will teach them that it does not pay to cut corners on expectations when they have to stand in the customer service line for 20 minutes. This will also help them on communication skills too, Always ask for the receipts and show them if you see a way they could have saved some extra cash, after all that is their way of making money.



Idea Two- Budget Blasting


So they like leaving the lights on, or opening the windows with the heat on, or other crazy acts? They want all of these streaming services but, they are not free. Get a box of envelopes and pull some cash out, don't worry, you will redeposit it. Step one- grab your monthly bills, and be sure to make a word document for the ones like Netflix and Pandora that mimics a bill and put them in a stack. Don't forget the costs of fuel, groceries, and entertainment. Sit down with them with the cash and the bills, make them put the amount due in each envelope, here is the clincher, be short a few dollars in cash. Now ask them, which is a necessity and which ones can you live without? If they start bucking about canceling streaming services they feel like they must have but do not use, make them call the providers and start negotiating better deals. Spending 45 minutes on the phone with XM satellite radio call centers will make them think twice and want to start downloading a playlist versus spending that cash. Tell them that is all of the cash you have (we all know better, they do not) Make them choose cooking at home every night for a month to get those Fortnite bucks, and hold your ground so they get it.


The Side Step Hustle


They love social media and money, so make them put that to work. Many social media platforms like Facebook have community groups, make them post an ad for babysitting, cutting grass, yardwork, or more. This can go further with arts and crafts, and even house cleaning for relatives and neighbors. Making them balance their time between school and sports and making money is a great life skill and when they are planting a flower bed they are not on snap chat. If you are stumped for ideas and your TikTok teen wants to just watch the short videos, call your local police department and ask if they can volunteer to wash cars and tell them to live stream doing something positive, if they have a following, their followers will "gift" for watching them doing good deeds (true story its mind-boggling)



 

Written by Rick Moghadam


Rick Moghadam and Family

 

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