Last week Anna was filled with anticipation. She was going to make her first purchase with her own money. It was easy for her to choose what she wanted....something Mom said she wouldn't buy her....a scooter. We had gone on Craigslist and Walmart.com to look at different options. Her and I discussed the pros and cons of buying something used versus something new. She weighed her options and choose a pink and silver scooter with streamers. Now we just had to make the big trip. Thankfully for her, grandparents were in town and took her before out next trip to Walmart. They didn't have the one she had decided on, were out of stock on her second choice, but there was a was a Princess one that would do. Luckily, it ended up being the cheapest. She loves her scooter! She has worn out the sidewalks in front of our house with her riding! The funniest thing is that Matthew chases her up and down the sidewalk or follows her with his little bike :)
It is very important to Brad and I that we raise our children to have a good foundation for handling money. Personally, I believe that my parents did a great job teaching me about finances. Brad makes great financial decisions. When one of us wants to splurge the other one can reason. We are both frugal and choose not to purchase things we can't afford. The only debt we have is our house. We weigh our options carefully and try to think about our future needs instead of what would make us happy right now.
In attempting to help Anna understand the basics for financial success (according to B and J) we (and my parents) bought Anna three banks. Each of them is a Princess. She picked which Princess went with which bank. Cinderella is her savings bank, Tangled is for spending, and Belle is for tithe. (Later we will get her another one for long term savings, but in a few years). We gathered up all her money and divided it out equally. She will have a notepad for her to keep track of her saving and spending habits. Not only does this help her keep track of what she does, but it is great for math :) Our biggest issue to tackle next is that just because she has money in her spending bank it doesn't mean she has to spend it all.
