Small Purse, Big Eyes
Babies are needy, yet pre-teens are even more so. A 3-month-old most likely needs feeding, bathing and changing. The 12-year-old needs school supplies, money for the class trip, new designer jeans, guitar lessons, soccer cleats, a computer, a cell phone and gifts for numerous birthday parties.
“Girls, you’ll probably always have the first dollar you ever make,” my mother would say to my sisters and me. When asked why, she would say, “Because all you do is spend my money.” She had a point. All three of us would carry our cute little purses laden with pre-teen musts like chewing gum and clear lip balm but our allowance was generally left safe and secure in our piggy banks at home. Of course that didn’t mean we wouldn’t find something we desperately “needed” on any shopping trip with mom. There was always something – a new type of cereal in the food store or a new shampoo in the drug store. Yes, it was a classic case of small purse, big eyes. This was all lost on me until my daughter was born and then, as they say, it was payback time.
Just like many children my daughter was loathe to part with her cash. I recall the year she got a $20 bill from an aunt in a birthday card. This child didn’t even want to deposit it in her small bank account. “But mommy how will they know to give me this same one back if I give it to them?” I explained that it wouldn’t necessarily be the exact same bill and that was enough to put off bank deposits for a year or so. She preferred her piggy bank – at least she knew exactly what she had.
Which brings us to our feature this month on family finance. Plenty of families are feeling the financial pinch these days. The entire subject can be so unnerving many prefer to ignore the alarm, but facing the facts is the first line of defense. Get a handle on your finances by tracking exactly where your money goes says Deirdre Wilson, who writes our feature “Surviving a Stalled Economy: Money-Saving Strategies for Families.” Read this piece and act as if you were an investigator trying to solve a puzzle rather than just a cash-strapped individual. Keeping an open mind and following through on even some of the many tips Wilson offers can be a great way to get your financial life in order this year. And involve the entire family if hard decisions need to be made. This could be a chance to educate your children about making choices and learning what it takes to live within your means. Many of us are walking around with small purses these days, but with a slight change of perception and some good old-fashioned prioritizing we’ll survive.
And remember, it doesn’t always cost money to have fun. Check our calendar for free monthly events and sign up for our weekly newsletter that brings you hot tips and free information to make your parenting journey informed and happy.
Happy New Year,
Jean Sheff
Editor
