Saturday, July 18, 2009

Don't you love those "teachable" moments with your kids?

Dave Ramsey always says that having your children learn to control their own money is a "teachable" moment. Avery turned 11 in May and I trying to get him prepared for the real world in a few years when he is off to college....I know I still have a few years but time flies. Usually I just take him shopping for back to school clothes and shoes. I find things on clearance, sale, I don't spend a lot of money, but does he really understand that?.....probably not. He knows mom uses coupons and buys stuff on sale, but I want him to understand why I do that. I gave him a set amount of money this year and I let him decide how it was going to be spent. He knew that if he bought a high price item that a lot of money would be gone. We went to the mall today. I like to go around the end of June or beginning of July so we get all the great summer clearance items. We live in Fl so you really don't need warm things until Nov or Dec. I am very proud of him. He made some great decisions. He went to Aeropostle and shopped the clearance racks. He got an extra 70% off of the mark down prices. He got several things at Belk including some cool short orig. $40 for $6!!!!!! We went into Gap and we were looking at their jeans. Most were $25 to $30. He decided that was to much for him to pay....he gets it...yeah. Well, we walked to the back of the store and they had a clearance rack of the same kind of jeans for $10.99 then an extra 25% off that...WOW. He ended up getting 2 pair of jeans and 2 shorts at Gap for just $35. That is almost the same price as 1 pair we were looking at the front of the store. I think this lesson has been very productive for him. He knows to look around a little bit to get the best deals and he is way more selective with his money.

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