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Spend wisely

Teaching Kids to Spend: Part 1 – Generic vs. Name-Brand Products

The wheels have been turning since I wrote my last post, If I Could Teach My Child Just One Financial Lesson, It Wouldn’t Be To Save (spoiler: it would be to spend wisely). And I really enjoyed doing a five part series on saving, so I thought, why not do another series on spending?

J and I have been going to various stores and doing some comparison shopping, so the first three posts will be the results of our research, including practical advice and lessons about spending. Specific topics will include buying generic vs. name-brand products, looking at price differences between stores and buying in bulk.

Post four will include other ideas for teaching your kids about spending, and the last post will be more philosophical in nature — do I really need to buy this?

Generic vs. Regular

When I first thought of this idea, I mentioned it to J and he said, “What does generic mean?”

Wait, what?

Categories
Spend wisely

If I Could Teach My Child Just One Financial Lesson, It Wouldn’t Be To Save

Last week I saw a tweet from Adam at Money Savvy Daddy that said, “If you could teach your child just one money/financial lesson… what would it be?”

I love to learn what people are teaching their kids so I was eager to read the responses. Not surprisingly, many people said, “Save!” Saving is definitely important, but saving without context… how can that be successful? What are you saving for?